Commercial Lending Products
This revolving credit facility allows businesses to borrow, repay, and re-borrow up to a set limit. and is attached to the chequing account.
What is a Line of Credit
Our current payroll provider
What is wagepoint
This is the likelihood that a borrower will default on their loan obligations.
What is credit risk
Revenue - Expenses =
What is Net Income
a term deposit is set up as security for a Loan or Line of Credit
What is a cash-secured Loan/LOC
Which lending product has the highest level of risk
What is a Commercial Line of Credit
Process credit union does to ensure businesses are maintaining as was at time of application
What is an annual review for commercial credit
What is a current liability or current assett
An item on the balance sheet that can be collected within 1 year.
a product that assist the Borrower with the purchase of land/house/building
What is a Commercial Mortgage
How many years of financial statements do we typically ask from a business
What is 3 years of year end financial statements
Limit we have in place to reduce risk of one member borrowing up to a certain threshold.
What is SMCC
Line items on the income statement that we add back to net income
What are Interest on Long Term Debt & Amortization/Depreciation
This loan structure allows multiple lenders to share in providing a large loan to a single borrower.
What is a Syndicated loan
A product we use to have to allow members to receive and send larger EFT's to a specified monthly limit
What is AFT.
An agreement where an individual personally promises to repay a business loan if the business fails to do so
What is a personal guaranty
What are dividends
a product issued by a financial institution that serves as a guarantee to a seller that they will receive payment for goods or services, even if the buyer defaults
What is a Letter of Credit
The AI product we are rolling out for commercial lines of credit and loans to help with automation of smaller credit
What is JUDI AI
When a company is late to provide financials for annual review, or do not show ability to debt service, they end up where?
What is the watchlist.
This financial document projects future cash flows and is crucial in evaluating repayment capacity.
What is a pro forma