Looking for a specific section? Use the table of contents below to jump straight to it!

• Financing sources for 504 loans
• Financing sources for a 7A loan
• Financing sources for a Commercial loan
• The Target Percentage pop up

To access the Financing Sources Tab:

• Click on Financing in the overview menu of the loan
• Click on the Financing Sources tab.

 

The Financing Sources Tab looks different based on the loan type, and the status of the loan.

• 504 loans in Prospect, Open and Approved Status:

 

• 7A and Commercial loans in Prospect, Open and Approved Status have the same view:

 

 

• Once a loan is in funded status, the columns on the tab change for all loan types. It now includes columns that reflect loan balances, the rate, payment, the balance as of the last payment and the payment statuses. The Add button disappears. This applies 504, 7A and Commercial loans (7A pictured below as an example).

 

• Underneath the project financing table, you will see a Financing Sources Narrative field, you can enter information regarding the financing sources here. When you finish click save. 

 

The financings sources table will already be set up with the default structure for your loan. You can add additional sources if you wish, we cover this in an article here. In this article we will cover adding information to the already existing sources.

Financing Sources in a 504 loan

The financing sources tab for a 504 loan will be setup with a space for you to enter information regarding the Third-Party Lender, the SBA 504 Debenture and the Equity Injection from the borrower. There is a separate interim financing section for you to enter information regarding the interim loan.

We recommend you fill out the records in the order they are presented, starting at the top of the table and working your way down. To enter information for a financing source, click on the hyperlinked name of the source.

 

• First click on the name of the third-party lender. It should already have the name of the lender you selected when creating the loan in Ventures listed here. The edit financing source pop up will appear.
  • Fill in the details of the loan in the loan tab of the pop up.
  • You can add the costs of any ineligible costs to the Ineligible costs tab.
  • Click Save when you finish.
• Tip: Click the question mark icon for more information regarding the field they are next to.
• The custom fields tab will only appear if your site administrator has assigned a custom field to this area of Ventures. If you do not see the tab, it means there are no fields assigned. If you do see the tab, make sure you click on it and fill in any information required. Remember to click save when you finish.

 

 

• Next click the SBA 504 Debenture record.
• Fill in the information regarding the financing source.
• The values and options in the closing Fees & costs Tab and the Servicing Fees tab are set by your site administrator. You have limited ability to make changes on either tab.
• The tabs and contents of tabs you see will vary slightly depending on the status of the loan. The ACH tab will only appear for loans in an Approved or Funded status. The servicing tab only appears when a loan is in Funded status.
• Go through each tab and fill in the information you need to. 
• Click save when you finish.

 

 

• Next click on the Equity Injection record.
• Fill in the information in the pop up. The contact field will unlock once you select a company.
• The amount will calculate automatically. By default it is set to be 10% of the project costs. You can edit the percentage in the Target Project % field. 
• Click Save when you finish filling out the information required.

 

 

• Finally click on the Interim Loan record. The Interim loan pop-up varies slightly between status. 
• Fill in the information.
• Click save.

 

 

Adding a financing source for a 7A loan

• Click on the only record in the table, it should have an organization name listed already from when you set up the loan, if not it will say SBA 7a loan.
• In the pop up that appears, enter the loan information on the SBA 7A loan tab.
• The SBA Guarantee and Servicing fees tabs are set by your site administrator. You have limited ability to make changes on either tab.
• There will be additional tabs based on the status of the loan. The ACH tab will appear when the loan is in Approved or Funded status.
• The Servicing tab appears when the loan is in Funded status. 
• When you finish entering the required information click save.

 

Adding financing sources to a Commercial loan.

• Click the loan record in the table. A pop up will appear.
• Fill in the loan information on the loan tab.
• Then go through the Government Guarantee tab, the Ineligible Cost tab and the Servicing Fees tab and enter relevant information.
• There will be additional tabs based on the status of the loan. The ACH tab will appear when the loan is in Approved or Funded status. The Servicing tab appears when the loan is in Funded status.
• When you finish click save.

 

 

Target Percentage Pop Up

In a 504 loan, if you have entered project costs before your financing sources, the target project percentage pop up will keep appearing as you go through and fill out your financing sources. The target project percentage is not mandatory. It is a tool to assist you with hitting the 50/40/10 split for 504 loans. If the pop up appears when you are working on a 504 loan it is worth reviewing the information contained within and using the Update Amount feature to correct any mistakes. If you are satisfied with how you have entered the data, you can click remove target in the pop up.