LOAN POLICY
A third party business valuation is required on PF loans greater than this amount.
What is $2 Million
Responding to an underwriter when they need more information?
What is Chatter?
Healthcare Credit Risk Management Signers
Who are Brian Erdahl and Brendon Howard
Whats needed for a complete loan package.
PFS, 2-3 years Personal Tax Returns, 2-3 years Business Tax Returns, Business Debt Schedule, Interims, LEAP or Preapp
Security question that we need to open an account
What is mother's maiden name
The maximum length of an interest-only period
6 months (or 9 for start-ups only)
Rent rolls, appraisals, and environmentals are saved to this Docman
What is "Collateral?"
Acronym GAR
What are Gross Annual Revenues
Excel file intended to help banker understand when requires require previews and or concurrence from Credit or Sales Management before submission
What is a Tollgate
A legal structure for a business where its owners, called members, cannot be held personally liable for the company's debts or liabilities. It is generally operated by a person or people with the title manager.
What is a LLC
PF exposures above this amount require a Global Cash Flow ratio of >= 1.50x
What is $1.5 Million
nCino route that shows who the credit approvers are on a product package
What is Decision Routing
This is where you can find PF loan policy
501-1 U.S. Bancorp Business Banking Credit Group - General Lending Policy and Guidelines
The LEAP form should be completed for this type of request
What is Acquisition
The following options are available in Fusion as evidence of legal status: Corporate Formation Documents, Partnership Agreement, Letter of Good Standing (i.e., state registration, good standing/certificate from the SOS)
What are the required docs to open an account
The dollar thresholds for knowing if you need to collect 1, 2, or 3 years of financial statements
<= $250M, 1 year, >250M - <=2.5MM 2 years, > $2.5MM 3 years
This is the standardized naming convention for an entity that has not been formed yet.
What is "John Smith ETBF"
Acronym PSA
What is Purchase Sale Agreement
Borrowers and Guarantors must sign this form prior to submission to underwriting
What is Authorization and Disclosure Form
Operating Agreement, Parntership Agreement, Company Agreement, Annual Report, Addendum, Amendment, By-laws, Record of Action, Restatement, Resolution by a Board of Directors, Meeting Minutes
What are proof of authority documentation
GAR limitations for dental vs. veterinary vs. optometry vs. medical
Dental/Vet - 95%, Opto 65%, Medical 75%
The three things you need to do when responding on a task assigned by an underwriter.
What is 1) tag the underwriter with "@", 2) upload the requested information to the correct docman, and 3) mark the task as "ready for review"
Acronym REHC
What is "real estate holding company"
Special Purpose Credit Program permitted under the Equal Credit Opportunity Act
What is Business Diversity Lending Program
An incorporated for-profit business registered with the state, owned by the shareholders with limited liability. Corporations are run by a board of directors which appoints officers to manage the operations
What is a Corporation