Coming Soon

Online Soon!

sbaOpen’s CLOSE module simplifies the loan closing process. CLOSE automatically creates the Loan Authorization, all legal documentation and required security documents. CLOSE also allows users to easily verify other necessary information from borrowers and appropriately document the closing the “SBA way”.

• Uses the Loan Authorization as the LEAD document to dictate closing documentation requirements. The Loan Authorization will almost be 100% complete at this point because it is populated by the previous four modules.
• All SBA required forms are populated (SBA Note, Guaranties) and the lender has the opportunity to upload all other legal documents

Online Soon!

sbaOpen’s FUND module provides an intuitive and easy to use platform for tracking and managing the disbursement of loan proceeds. sbaOpen ensures that disbursements match accepted uses and assists in necessary documentation for approving equity enjections.

• The proper approach to disbursing loan proceeds is used by generating the Form 1050, Settlement Sheet and an automated approach to disbursing within authorized SBA Loan Authorization use of loan proceeds categories. For each disbursement, the system prompts for the appropriate supporting documentation to substantiate each draw. The loan is kept “in balance” and prompts for lender internal approval (with appropriate documentation) when deviating from original lender/SBA approval.
• Required equity injections are tracked in the same approach as the loan proceeds disbursement process and the system prompts for proper supporting documentation.