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- Click on Eligibility in the overview menu
- Click General in the submenu that appears.
The General menu in the eligibility section consists of a series of tabs where you can capture information regarding the purpose of the loan, occupancy information, policies that may be related to the loan, track jobs during the application stage of the loan and to include credit elsewhere reasons. The tabs in the General section of the Eligibility menu will differ based on the loan type.
504:
7A:
If the loan is a 7A Community Advantage loan, there will be an additional tab labeled Assistance/Counseling. Information added here will push to ETRAN when you submit your loan.
Commercial:
The Purpose Tab:
The purpose tab allows you to enter a narrative regarding the loans purpose. Type in the information you would like to include. You can insert a snippet using the Insert Snippet dropdown menu. Your site administrator can see steps on how to set up snippets here. When you finish click save.
The Occupancy Tab:
The occupancy tab is used to record details of the Project Property Location. You can include The total square footage, how much footage is occupied by the OC, the location type (used in 504 loans for form 1244) and lot size.
- It has an occupancy verification section where you can note if the property was occupied at the time of funding and date fields to capture an anticipated occupancy date and a date of verification of occupancy if they were not occupied at the time of funding.
- The occupancy tab contains an extra section for 504 loans. You can indicate if there is marginal impact to the community the OC is relocating from using the relocating check box. You can indicate if this is a new construction.
The Policy or Public Policy Tab:
The tab is labeled Public Policy for 504 and Commercial loans, and Policy for 7A loans.
- For 504 Loans and Commercial Loans the first section is labeled Specialized. You can indicate if the company qualifies for a New Market Tax Credit, Low to Moderate Income Debenture, if they are part of an Opportunity Zone, a Special Geographic Area or if they are located in a HUBZone. You can also include a narrative explaining how their specialized goals are being met. The checkbox to indicate if they are a small manufacturer is also in this section. It is automatically checked based on the NAICS code of the primary operating company.
- The public policy section contains a variety of policies the loan may be eligible for. Check each that apply.
- For more information on what each item means, click the question mark next to it. The help page will contain an explanation, and may link to extra resources.
- You can also include a narrative explaining how their public policy goals are being met.
- The Community Development section contains a variety of options the loan may contribute to the development of the community. It also contains a narrative field where you can explain how their development goals are being met.
- For 7A loans, the Policy tab allows you to indicate which policy the loan qualifies for, an option needs to be selected here for Community Advantage Loans.
The Jobs Tab:
The Credit Elsewhere Tab:
The Assistance/Counseling Tab:
This tab is specific to 7A community advantage loans. You can indicate if the operating company received assistance or counseling in the last 12 months.
- If you indicate they have, you can use the assistance section to choose the type of assistance the company received.
- The counseling source section allows you to include the source of counseling the operating company received.
- The counseling hours estimate allows you enter the estimate total hours received in training or counseling for each type: 1 on 1 counseling, Telephone counseling, Web-based tutorials and Group Trainings.
