Commitments
This type of Commitment can have both revolving and non-revolving commitments or note attached to it.
What is REVOLVING
If an existing loan on FIS is being renewed and it's no longer an SBA, we can keep the same number, but we have to notify Patrick/Corrina and THIS PERSON who works the SBA 1502 report.
Who is Jen Daniels
On a LIBOR rate, if the frequency is a NUMBER, this field does not need to be completed.
Next rate change date
Variable rate/tickler
Capex is short for
Capital Expenditure
BBL, LC1, and LM1 are all examples of what?
What are Sublimits
SBA product that will not have note type 10 or 11. (two options)
SBA 504 or Check Access
Visual Clue
Libor replacement language
A 10 year loan fixed at 5 yr FTP + 2.00, repricing to the then current 5 yr FTP + 2.00
Variable plan
568
The word for funds used underneath a CAPEX commitment
(several options- name one)
What is Tranche, Carve out, advance, take down, draw
Type of Commitment that needs to have approval from Finance
What is BND?
When terming out an SBA line of credit, the blank/blank must stay the same.
What is the loan account/note number
Index used when 103, 207, and 712 are changing daily
What is 400?
5/25 FHLB changing to 5/20 FHLB
Plan
The first rate will be the current FHLB 5/25 and the index/plan will be for the 5/20 FHLB
This commitment type is used specifically for loan approved as CAPEX