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VENTURES
504 Lenders - Interim Loan Amount Is Now Editable
There is now a checkbox to manually change the Interim Loan Amount and Gross Amount for the Interim Loan. If the checkbox is unchecked, the Interim Loan Amount and the Gross Amount will automatically be set to the SBA Debenture Amount as it always has. If the checkbox is checked, the amounts can be changed manually.
Companies Now Have An "Associated Companies" Tab
Companies now have an "Associated Companies" tab to list other companies they own. This is just like the "Associated Companies" tab for humans who own other companies.
Section 1071 Reporting - Expanded Adjustable Index Type List
To further prepare for Section 1071 requirements, we added the following options to the Rate Indexes list in the Admin area (Gear Icon > Reference > Loan > Rate Indexes > (add/edit Rate Index):
- 6 Month CD Rate - [Non-SBA Loans]
- 1 Year Treasury (T-Bill) - [Non-SBA Loans]
- 3 Year Treasury (T-Bill) - [Non-SBA Loans]
- 12 Month Average of 10-Year T-Bill - [Non-SBA Loans]
- Cost of Funds Index (COFI) - 11th District - [Non-SBA Loans]
- Lender’s Internal Index - [Non-SBA Loans]
We also renamed the following for greater clarity:
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“5-Year Treasury” to “5-Year Treasury (T-Note)”
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“Cost of Funds” to “Cost of Funds Index (COFI) - National”
The new items have "Non-SBA Loans" added at the end so there no confusion that those rates don't map to CAFS.
