Video

Forgiveness continues to be our focus area for training during these live webcasts as applications open for loans having closed out the minimum required 8-week covered period. Today we reviewed:

• Where and how to start a forgiveness application
• Application options dependent on if the loan was funded through Biz2Credit or not
• Using the new functionality which allows firms to assign the forgiveness application to a borrower
• Overview of the documentation needed (Note, required documentation is dynamic and will change depending on the size of the funded loan. A checklist for this documentation is coming soon.)

Additionally, an important reminder was reviewed regarding the final actions some firms / borrowers need to take to close and fund their loans. If you have a client application with either of these statuses an immediate action is needed:

• Applications with a “Contract Sent” status – this is the final application step and requires a client e-signature as soon as possible.
• Applications in “More Information Needed” status – check for Underwriter (UW) Notes to understand what is missing or email cpasupport@biz2credit.com to inquire.