Beneficial Ownership
We added a new table that shows the beneficial owners of each applicant. It is part of an additional page to the Borrower Information Form of the 1244. The ownership section of the Borrower Information Form asks that at least 51% of the beneficial owners be reported. Beneficial ownership is the cumulative percentage …
ETRAN 504 Submission of Terms and Conditions and Ship Request
On April 1, 2019, SOP 50 10 5(K) added a requirement for CDC's to electronically submit to SBA a copy of the executed Authorization. To comply with this requirement This video will show you how to upload not only the Ship Request but also the executed Loan Authorization using the submission method of Closing Reque…
ETRAN - Character Determination Background package for 504
ETRAN - Submitting your Criminal Background package (FKA 912 Package) for 504 loans * From Ventures > Make sure your Loan Status is set to Open > access the SBA Submissions > Etran menu * Click on the Existing " Application # " or if an application does not exist click on the Green Add Button to Add a n…
Generating the Etran SBA 504 Terms and Conditions from Ventures
You can generate the Etran 504 Loan Terms and Conditions directly from your loan in Ventures! You can use the new Generate Terms and Conditions button for 504 loans that have an Etran status of " Application in process " or " Awaiting Documents ." View the video below or if you prefer follow the steps listed below t…
