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Initial Start-up
Loan Management System Business Lenders uses the SBA Loan Manager software solution from PCFS 2000 as its loan servicing infrastructure platform. PCFS 2000 is the leading provider of loan management software for Small Business Administration (SBA) lenders. The system was designed to address the unique needs of the industry offering a "Prospect to Payoff" solution that includes SBA Loan Manager and a complete SBA loan accounting and reporting system including 1502 reporting. Data Warehousing/ImagingBusiness Lenders will use electronic copies and/or working copies of your loan files to upload into our loan management data base. Loan documents will be imaged and retained within the loan management data base. Business Lenders prefers not to retain any original or certified true original loan documentation, though the Client may elect to do so for an additional fee. Loan Documentation VerificationBusiness Lenders will examine the file as it is being entered into our loan management data base. Any deficient documents required by the SBA Authorization will be reported to the Client. Business Lenders will not bear the responsibility for ensuring that required documents have been received in accordance with the SBA Authorization. We will assist in the process of attempting to rectify any documentation deficiencies, if requested, but obtaining the documents required pursuant to the loan closing is the responsibility of the Client. Working Capital For Collection ExpensesBusiness Lenders will require the funding of a collection expense account at the commencement of the servicing agreement. These funds will be used to pay collection expenses incurred on the portfolio. |
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