206
MARCH 13TH, 2024
ANNOUNCEMENTS
VENTURES
Copy financial statement periods for a company from another loan
When creating a new financial statement and when adding a period to an existing statement, you can now select one or more periods to copy from an existing company financial statement for the company. Please click here for the KB article covering this process.
504 Lenders - SBA Annual Jobs Report Energy Projects update
Energy Public Policy Goals projects have been separated out into it's own line item in the SBA Jobs report located in Reports & Letters > Bulk Letters menu. This change was made in order to exclude Energy Public Policy Goals projects from being used in the Job Creation Average Calculation. Please be aware that while this update to the report has been acknowledged by the SBA, the SBA has not yet updated their material related to the report (for example, Current SBA Form 1253 with instructions for tab 4 HERE). Some important things to note, related to the change:
- To be considered an Energy project in Ventures, in Eligibility > General > Public Policy Tab > one of these has to be checked off:
- Renewable Energy Production
- Reduce energy
- Sustainable building designs
- If a project can be categorized as both Manufacturing and Energy, it will be categorized solely as Manufacturing (and therefore counted only once)
7(a) Lenders - Form 1919 Fees Paid Question logic update
The logic for Question #6 in the Entity's SBA 1919 tab, which merges to Question #6 in the new SBA Form 1919, has been updated to account for fees paid that did not require Form 159. Question #6 in the Entity's SBA 1919 tab will be marked YES when one of the following is true:
- Your project has 159 Agreement Required checked in a Partner Contacts > Referral Sources record; OR
- There is a Partner Contacts > Referral Sources record with fees listed having a dollar amount greater than $0
Previously, Question #6 in the Entity's SBA 1919 tab would only be YES if your project had 159 Agreement Required checked in a Partner Contacts > Referral Sources record.
Document Storage - Read Only setting update
There was an update to the user Read Only permission for Document Storage (Administration > User Access > Permissions > Entity > Document Storage dropdown). For both Ventures and BMI document storage, users that have Read Only set on the Entity > Document Storage permission will no longer see an upload or add button to upload documents. Please contact your Ventures Site Administrator if you need to upload documents so they can change your permission setting.
PAYMENTS
New Account as of Date system report based off Effective Date of transaction
A new "As of Account Effective Date" parameter is available for Payments reports to capture certain values at a point in time based off the Effective transaction date. Previously, we only had an "Account As Of Date" parameter that capture certain values at a point in time based off the Posted transaction date (also known as Received Date). We renamed the "Account As Of Date" parameter to"As of Account Posted Date" in order to make the label more clear on what data it will return.
We renamed the "Payments Point in Time Reporting" system report to "Payments Point in Time Reporting (Posted Date)," and added a new system report that will behave in the same way but will use the new Effective date parameter. It is called Payments Point in Time Reporting (Effective Date).
