Lenderific
The minimum revenue needed for a term loan.
What is 200k/year
The two steps in Open Intro.
What is Break Preoccupation and Setting the Stage?
How I send bulk emails.
What is go to business tab, click on the box next to the businesses you want to send an email to (on the left) go to actions and select email- choose template- hit send.
Where I update the BO's loan info.
What is black?
The credit score minimum for an ACH/MCA loan.
What is 500?
4 topics to dig deep in Discovery.
What is use of funds, impact to business, understanding the business and lending experience?
Section in PL where I can mark down my cadence.
What is notes?
This needs to be signed/dated within the last 30 days.
What is the application?
2 industries Lendio does not facilitate loans for.
What is other financial institutions and the adult entertainment industry. Also acceptable: any business Kyle decides to run and gambling.
The payment frequency for an ACH/MCA loan.
What is daily/weekly?
An example of a trap question.
What is all pages are there (incl blank), name and addresses match, biz or personal, ending bal matches beginning bal of next month, look for transfers etc.?
This must be said on every outgoing phone call.
What is "on a recorded line?"
4 traits of an owl.
What is pressed for time, analytical, trap question guru, logical, cold etc.
Time in business for an LOC loan.
What is 6 mos?
3 examples of inviting statements.
What is walk me through, tell me, paint me a picture, define for me, clarify, outline for me, spell out, specify, give me an idea of, share with me, describe..?
The section in pipeline that allows me to fill in missing info for the borrower over the phone and get a completed app.
What is "application requirements?"
The status a profile must be manually moved to in order to submit an app.
What is "in contact?"
How a BO in the home remodel business gets paid.
What is progress billing? (net 30, 60, 90 etc.)
6 docs I need for a term loan.
What is 6 mos of biz B.S, P&L/Balance sheet, 1 year of personal TR, 2 years of BTR's, debt schedule and the application itself?
When a borrower says "I can't get those docs in right now," you ask this.
What is "why?"
Where kickbacks or lender specific asks appear in PL.
What is "funding desk requests?"
The action I need to perform in PL when a BO has updated their app, so I can see the changes.
What is import a new app?
When a borrower says "my equipment needs repair" these questions will help me get clarity, impact/roi and timeline
What is what type of equipment? Have you obtained any quotes? How long has the equipment been down? How is it impacting business? Are you subsidizing the equipment somehow?