SBA Form 1244 Changes (2024 Version)
The mapping for every field of the new 1244 and where it is in Ventures is attached and found in this KB article . Below are about 10 highlights. **There are two Lender actions that need to be taken care of to map project cost types properly to the new 1244.** * *LENDER ACTION* We added a dropdown to the Co…
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 …
Release Notes - 2024-12-10
VENTURES 504 Lenders - Added All Associate Signatures Back to the Borrower Information Form In the 504 industry call today, the SBA spoke about needing Associate signatures on the 1244. So, we added back all Associate signatures to the signature block page of the Borrower Information Form. We'll work with the S…
SBA Form 1244 Mapping (2024 Version)
Ventures has updated SBA Form 1244 to comply with the latest revisions. A complete mapping guide is attached to this article. It explains how the form is filled out and where the form pull its data from in Ventures. This applies to all 504 loans with approval dates on or after 11/22/2024 and loans without an appro…
Recommended 504 Cost Type Mapping
As the new 1244 has been released, it is a good time to review your cost types. See a Cost Type you don't use anymore? Click here to learn how to remove it from selection in your loans. Cost Types can be reviewed in the Administration section of Ventures. * Click the cog/gear wheel icon to access the Admini…
Not merging interface responses onto 912, 1919 and 1244
Assuming you answered the Personal History background questions within Entities > Company Contact, your organization has the option to 'hide' the interface answers. Following are steps for your site administrator to take: * Click on Administration. * Click on your Organization name within the Organization…
Release Notes - 2023-02-15
February 15th, 2023 Announcements Ventures+ EXPANDED JOB TRACKING CAPABILITY We are excited to announce we have added new functionality for Job Tracking. This enhancement includes the ability to allow Lenders to track job numbers during the servicing stage at any point in time and to track job numbers on a c…
Release Notes - 2023-03-02
March 1st, 2023 Announcements Ventures+ Expanded Job Tracking Capability We have added new functionality for Job Tracking. This enhancement includes the ability to allow Lenders to track job numbers during the servicing stage at any point in time and to track job numbers on a continuous basis. Watch our…
Form 1244 Section XVIII Questions
Within Ventures, where do I answer the following 2 questions? The questions would be answered within the Administration > Organization table. Select your hyperlinked organization name and then click on the Document Settings tab. The first section of that tab will have the 2 questions that will populate…
Form 1244 Narratives - Option to show See Credit Memo
504 Lenders You have the option to show SEE CREDIT MEMO in your narratives in lieu of having your credit memo narratives merge onto the 1244. To activate this feature for your organization contact your Site Administrator. The steps are as follows: * Click on Administration * Click on your Organization name …
