sbaOpen is a web-based service that facilitates the SBA lending process and has redefined the packaging and servicing of SBA Loans.
Our service was designed to help you package loans “The SBA Way” through an intuitive process, by increasing efficiency and providing unparalleled customer support.
sbaOpen’s comprehensive design allows your staff one-stop functionality across the entire SBA loan life cycle. And, sbaOpen allows you secure access to all of your work anytime and anywhere you have an internet connection.
The GATHER Module
sbaOpen’s GATHER module captures the Business Development process. The system guides the user through the data input process through a “question and answer” design. The user also has the ability to upload information into the system for storage and future analysis.
GATHER also provides a comprehensive suite of eligibility tests to ensure your loan is compliant with all necessary SBA regulations and requirements.
The ANALYZE Module
sbaOpen’s ANALYZE module provides a robust underwriting process. All information entered in GATHER is available for review and analysis. In the ANALYZE module, users can “tell the story” of the loan and the applicants. ANALYZE also provides robust financial analysis tools. ANALYZE’s final step culminates in the creation of a complete Internal Credit Memo.
The APPROVE Module
The APPROVE module in sbaOpen is designed for the review and submission of the SBA application. The document review section provides the user with a list of all application materials. These can be reviewed for accuracy, and any edits easily performed. After all materials have been accepted, APPROVE allows users a “one click” submission process to simplify sending materials to the SBA.
The CLOSE Module ** Online Soon!
sbaOpen’s CLOSE module allows users to track and record the proper closing documentation for an SBA loan.
The FUND Module ** Online Soon!
In a similar fashion, sbaOpen’s FUND module provides users with a tool to track and record the disbursement of funds and injection of equity.
Other useful features
sbaOpen offers other useful features to simplify the SBA packaging process. These include our Document Locker – which provides access to all documentation related to the current loan in the sbaOpen system – and our Conversation Log – which provides users with a tool to track the progress of a loan through your lending process and required touch points.
Finally, sbaOpen is committed to a superior client experience and offers our users unprecedented help and support features. These include:
- A Forum, Blog and other online community support tools;
- The SOPs Online – an online interface containing all SBA related SOPs with real-time search capabilities; and
- Video tutorials that cover the proper use of each and every module, step, function and feature in sbaOpen.
