Release Notes - 2024-12-04
VENTURES 1502 Report version update The SBA pilot for a modernized 1502 report is ready for general release. Ventures supports both versions as you transition to the new report layout and file submission portal. The modernized 1502 report is a payments report labeled SBA 1502 Report version 8/2024 . The cur…
1502 Error Codes and Helpful Facts
When reporting your 1502 reports to SBA you should be aware of the error codes and other common Submission and Reporting FAQs : Here is the list of 1502 Enhancements: Lender Remittance Exception Codes : 1016 - Last Interest Paid can't be less than the approval date of loan. 1050 - Total Amount Undisbursed …
Payments How to Generate a 1502 Report
You will need to be able to access the Payments main menu tab in order to generate a 1502 report. You will be able to generate a report filtered by different loan programs and report types. ***This KB article is for Payments clients that use the 1502 Reporting module*** How to Generate a 1502 report * Click…
7A Secondary Market Loan Sale
This article will show how to record a 7A Community Advantage Loan Sale on the Secondary Market within Ventures. For more information visit FTA Wiki page. If you have Payments and the 1502/Investor module, please follow the procedure below: STEP ONE: Add Ownership Transaction 1) Go to loan that has been sol…
Report Statuses for the Form 1502
In this article, we will describe setting the report status for the Form 1502 within Payments. This article will focus on how some statuses will be automatically set. For a full definition of 1502 statuses, please refer to the SBA 1502 Instructions . The 1502 Status within Payments > Loan Details is set to -No…
