Acronyms
SF
Salesforce
What is the maximum term length for an STL?
2 years or 24 months
Does a LOC get more or less expensive the longer you hold it out?
More expensive
What do you do if you are ready to hand off an Opp, but then find out the AE is OOO?
Slack Maya for re-assignment
The AE hasn't submitted the app yet. How many hours should you wait to ping them again?
1 hour
TH
Tree House
Which takes longer to be approved & funded, STL or SBA?
SBA
What is the lowest credit score considered to apply?
520
What type of handoff requires using the Call Queue?
Tier 4 Opps
A BO tells you they want to refinance their loan balance. At a high level, what qualifying do you need to do?
Refinance - lender, balance, payment/rate, why, timeline
Additional UOP - need, amount, timeline, ROI
FU & Notes
UW
Underwriting
What is the lowest interest rate our lenders offer?
Bonus: What product?
9.5%
SBA
What is the lowest dollar amount the SBA will approve?
When doing a warm handoff, what do you slack the AE?
Do you recap qualifying info with the AE before or after the merge?
Slack the Account link
After the merge
When you are working an Opp in your pipeline, what is the daily cadence?
BONUS - How many days do you follow that cadence?
CTE in the morning, CT in the afternoon
5 business days
Merchant Cash Advance
Which product is the best fit for cash flow gaps?
Line of Credit
Typically, around what percent paid down is a BO eligible to renew?
45% - 50%
You get the qualifying notes below- is it ready for handoff?
Need - operating expenses
Amount - 20k
Timeline - EOW
Notes - BO is ready for funds sooner than later; shopping elsewhere
FU - Mon 2/10 3p EST @Liana
No
Get business info, specify the need, clarify the timeline and why, and get the ROI)
What are the 5 fields/areas that you use in TH?
What 2 buttons do you click to send BOs links?
Fields/Areas - Soft Credit Authorization, Ownership, EIN, TIB, Document Upload
Docs Magic Link, Send Authorization Link
BTR
Business Tax Return
What are each of the products we offer?
MUST LIST ALL
STL, MCA, LOC, MTL, SBA, GTL, Equipment Financing
What are the differences between renewing & refinancing?
BONUS - What do they have in common?
Renew - same lender, interest waived
Refi - different lender, interest carries over
Both - net new capital (get additional funding)
If a BO wants funding to buy real estate, what pivot do you use?
What other costs are associated with the RE purchase that you need to cover?
What projects or other working capital needs do you have that could use some financing?
When collecting application materials, what do you need to get?
BONUS: What extra thing do you need for an SBA-interested BO?
4 months of business bank statements
Soft credit authorization
Ownership
EIN
TIB
Bonus: Most recent BTR