When it comes to the workflow of adding the details of a loan to Ventures, we recommend filling out your financing sources tab, before filling out your project costs tab. There is nothing wrong with filling out your project costs tab first, but you will see a lot of red warnings till you fill in your financing sources as the system sees you adding costs for a project that has no sources listed to pay said costs. 

To add a Project Cost:

• Click Financing in the loan overview menu.
• Click the Add button on the project costs tab.

 

 

• The add project costs pop-up will appear. This pop-up will look slightly different based on the loan type.
• First choose your project type. If you do not see the type you need in the dropdown menu, your site administrator can add project types to the system for you. 

The rest of the popup is where there are differences.

For a 504 loan: 

• The next step is to fill in a description for the cost, this will appear in the table.
• Enter an amount the project will cost.
• Depending on the project type you select, a use type dropdown menu may appear. Use it to select further information covering what the project will be used for.
• Add any further comments you have in the comments field.
• If there is pre-project financing information you need to record, check the Pre-project financing box. A pre-project financing section will appear. You can enter the Amount, the Origination date, and the maturity date of the pre-project financing.
• When you finish filling out the relevant information. Click Save.
• If you have not entered Financing Sources in your financing section, you will see a red warning letting you know that the funding sources do not match the costs. This will disappear once the sources are added to the Financing Sources Tab. The fields for Injections and Other financing will unlock if the said sources are listed as funding sources.

 

7A and Commercial loans:

• After selecting the project cost type from the list enter a description of the cost and the amount. Add any additional comments you have.
• If there is pre-project financing information you need to record, check the Pre-project financing box. A pre-project financing section will appear. You can enter the Amount, the Origination date, and the maturity date of the pre-project financing.
• The Sources and Uses section is where the popups differ. For 7A and Commercial loans, you must note the sources and the amount from said sources that will contribute to meeting the cost of the project. If you do not have financing sources listed in the financial sources tab, you will not be able to enter values into any of the fields in this section. The system knows that there is $0 input for each of the options. If you had already entered information for a funding source be it a loan, injection or another source of financing, the field would be editable. If you are adding project costs first, you will need to return to the project cost and edit it to include the correct sources and amounts after you add said sources to the financial sources tab.
• When you finish entering the information you need to enter, click save.

 

To edit a project cost you have added: 

• Click on the hyperlinked name of the project costs you wish to edit.
• The edit project cost pop up will appear. It is identical to the pop-up you filled when creating the project cost. Make the changes you need to make.
• Click save.

To delete a project cost: 

• Click the X next to the name of the cost you would like to delete. A
• Confirmation message will appear. Confirm you want to delete the message by clicking the delete button. The pop up will disappear and the project costs will be removed from your table.