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 …
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…
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…
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…
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…
Release Notes - 2024-12-18
VENTURES 504 Lenders - Addendum A is Available! When the new 1244 is generated, if the answer to question 3 for an entity on the Borrower Info tab was 'Yes', Ventures will now produce an Addendum A. We have an article with a mapping guide attached covering Addendum A you can review it here. The Addendum A sh…
Release Notes - 2024-11-20
VENTURES SBA 504 Lenders - NEW 1244 is Now Available! The mapping for every field of the new 1244 and where it is in Ventures is attached to these release notes 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…
