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VENTURES

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504 Lenders - Addendum A is Available!

When the new 1244 is generated, if the answer to question 3 for an entity on the Borrower Info tab was 'Yes', Ventures will now produce an Addendum A. We have an article with a mapping guide attached covering Addendum A you can review it here. The Addendum A shows two things:

 

1. ALL businesses the Applicant owns.
2. ALL businesses owned by humans/businesses who have 20% or more ownership of the Applicant

 

 

 

We now have a field to enter the description of the relationship the owner has to the company it owns. It is located in the ownership section for the Entity Contact. 
 

Example 1:

 

Example 2:

 

 

504 Lenders - Jobs and Purpose of the Loan Data is now on the POC's Borrower Information Form

Ventures now produces jobs data and the Purpose of the Loan breakdown on the Primary Operating Company's Borrower Information Form instead of the EPC. 

 

 

504 Lenders - Refinance Type Field is now linked to Project Costs 

For loans using the new 1244, Ventures now links the Refinance Field regarding whether the project is with expansion or not based on the 1244 Purpose of the Loan mapping for any Project Cost on the loan. Question 1 on the CDC Info tab (Loan > Eligibility > 1244 > CDC Info) is now linked to the presence of a Debt Refinance mapped Project Cost. 

 

 

 

 

504 Lenders - Added "Other Secured Debt to be Refinanced" Web Template Merge Field

Ventures now has a Web Templates merge field for the new 1244 Sources and Uses category called "Other Secured Debt to be Refinanced". 

 

 

 

SendNow - Bulk Download and Delete Now Available!

We added the ability to download and delete multiple SendNow documents. We also moved the button to generate a link to its own page. 

 

 

 

 

NACHA Export

Creating a NACHA export file is now based on selection of an ODFI Originator and assigned batches.  Check out the new KB article hub that walks through the updates.