The sbaOpen Service

sbaOpen’s GATHER module allows your sales and business development staff to enter and upload a broad range of standard information about prospective borrowers and their businesses. In fact, users are prompted for information in a way that is not specific to any one SBA loan program.

• Efficiency is greatly enhanced when the right information is “gathered” up front
• Builds consistency in the process so that EVERY business development officer (or the person responsible for presenting the prospect…loan officer, sales person, BDO, sales assistant) is following the same approach
• Includes SBA loan program eligibility “tests” that assure the loan officer is not wasting their time trying to make a prospect a SBA deal, when it won’t work due to program restraints anyway
• This module builds the “document locker” where all other modules draw information from to make critical decisions throughout the process

sbaOpen’s ANALYZE module is a sophisticated underwriting analysis, borrower qualification and eligibilitydetermination tool. With sbaOpen, your underwriting staff can produce detailed Internal Credit Memos that includetheir individual analysis, without re-entering any information from the business development process. All changesand versions of the Internal Credit Memo are recorded so your staff always know the history and current statusof analysis. ANALYZE also provides a seamless and robust business valuation functionality in partnership with BankerValuation.com and GCF Valuation.

• Analyze positions the “internal” bank/lender approval. Underwriters crunch the numbers, finalize eligibility requirements, and follow up on all missing required documents
• Traditional credit underwriting approaches are either too light (consumer underwriting approach) or too heavy (a middle market or large commercial package). sbaOpen is “just right” to assist in your underwriting and prompts you to document your analysis at each turn, the way SBA wants it done.
• The credit memorandum includes guidelines to follow the “SBA way” to credit underwriting (addressing the 5 lender analysis issues featured in the SBA Form 4-I), plus a built in mechanism for capturing all of the eligibility requirements into one document.

sbaOpen’s APPROVE module connects your institution to the SBA guarantee approval submission process. Users can review and edit submission documents and print all required SBA forms and related information to create your hard copy file. APPROVE also allows one-click submissions through E-Tran, email and fax and includes all options for all types of programs (PLP and non-PLP for standard 7a, 504, Express, Rural Advantage)

• After the GATHER and ANALYZE modules are complete, the APPROVE module is basically populated automatically. The lender reviews and chooses which SBA process to submit the loan application package (PLP, non-PLP) and clicks for automated submission (email for non-PLP and ETran for PLP).
• Approve is designed to take the guess work out of the process for you. No more hunting and pecking for checklists, submission criteria, SBA rules about which process is best. With lender approval in hand (subject to SBA approval), sbaOpen makes this step quick, easy, and complete.