How to reflect a Subordination in Ventures (504)
This KB article will show you how to represent a subordination in the Financing Menu of a 504 loan. * In the Financing Menu, go the the Financing Tab * Click on TPL record * Update the Lender and Lender Contact Field record to reflect the new TPL and contact * You will leave the following in place: …
Where do I input the Lender Contacts?
Lender Contacts are selected and/or created from within your Lender record in the Financing > Financing tab. For Contacts that have already been created start typing a portion of the person's name and the drop-down will display his/her name for you to select. If your Contact does not already exist for a Lend…
Project Costs Sources and Uses for 7a and Commercial Platform Loan Types
We suggest starting your data input with the Financing > Financing tab 1st. Financing > Financing tab : Add the Financing Source(s) - adding your Financing Source(s) amounts will unlock the Sources and Uses fields within the Project Costs tab Project Costs tab: Add the Project Cost Type(s) Complete the…
Financing Menu: Estimated Monthly Payments, Term, Amortization, and Interest Only Months Explained
You will find the Loan Terms section in the Financing Menu > Financing Tab , housing the Estimated Monthly Payment, Term Months, Amortization Months, and Interest-Only Months fields, depending on loan category type: * 504 category loan > TPL record * 7A/Commerical category loans > Primary Loan record a…
Customizing Project Costs
Site Administrators can customize the drop-down options available within the Financing > Project Costs tab for the various loan types they may have within their organization. To customize: * Click on Administration. * Click on Reference . * Click on Loan. * Click on Cost Types. * Click on the green …
Project Financing Sources do not total 100.00% (SBA 504)
Important: SBA suggests rounding the Project Costs to the nearest thousand to avoid getting into the Rounding situation. Q: My Financing screen shows the breakdown of my 504 loan but the total does not equal 100.00%. It is currently showing 99.99% or 100.01%. When putting together the structure of your 504 project,…
