CREDIT ACRONYMS
Answer: This SBA holding company structure allows a business to operate through a separate entity.
What is an EPC?
Including this symbol before an employee's name will notify them of a Chatter post that needs their attention
What is the @ sign?
This federal agency regulates SBA loans.
What is the Small Business Administration (SBA)?
This daily habit involves contacting five new referral sources.
What is prospecting?
He formed the SBA in 1953
Who was President Eisenhower
The standard for acceptable U.S. accounting practices.
What is GAAP?
This social media platform is ideal for sharing Harvest’s loan success stories.
What is LinkedIn?
This document details a loan’s terms and conditions.
What is a promissory note or loan agreement?
This document on a tax return shows other businesses owned.
What is a schedule E ?
This Harvest product finances a building at 90% for owner-occupied real estate.
What is a 504 Loan?
This metric, calculated as earnings before interest, taxes, depreciation, and amortization, assesses cash flow.
What is EBITDA?
These local gatherings help BDOs connect with realtors and brokers.
What are networking events? Happy hours, conferences, golf events, and more are all great options.
This act penalizes false claims in SBA loan applications.
What is the False Claims Act?
This ensures BDOs follow up within 24 hours of an inquiry.
What is responsiveness?
This Harvest product works best when financing special use properties.
What is a 7(a) Loan?
This ratio compares a loan amount to the collateral’s appraised value.
What is LTV (Loan-to-Value)?
BDOs build this network of CPAs, bankers & brokers for loan referrals.
What is a referral source or center of influence
This ensures foreign national owners meet SBA eligibility, like having a U.S. work visa.
What is immigration status verification?
This document breaks down a partner's or shareholder's share of income, deductions and credits?
What is Schedule K1?
This Harvest product funds a medical building at 70% LTV with non-resident owners.
What is an HCC Conventional Loan?
This ratio measures a borrower’s ability to cover debt payments with operating income.
What is DSCR (Debt Service Coverage Ratio)
This field/picklist option on the Entity Loan Application triggers the “Loan Request” page to be visible from the Borrower View.
What is operating company
This SBA form discloses a borrower’s criminal history.
What is Form 912?
To be truly effective in business development, you must master this skill
What is active listening?
This 2020 legislation expanded SBA loan access during the pandemic.
What is the CARES Act?