A proven process
We didn’t just build SPARK, we also use it every day. Spark is the embodiment of a process engineered and improved over the course of our 20+ years of small business lending experience. Spark is extremely robust containing core origination system elements such as:
- Customizable lending products and features
- Secure and intuitive borrower-facing loan application (including document transfer)
- Scalable and configurable document classification system
- Powerful portfolio reporting capabilities
SPARK’s secure, web-based application, with guides and tool tips for borrowers, increases your productivity while ensuring you gather all of the information you need, when you need it.
- Application dynamically creates documentation requirements based on loan characteristics.
- Meta-data driven document organization means you can quickly search, filter and sort documents.
- Manage the complete project including use of proceeds, collateral pledged, community impact, financial and personal histories and more.
SPARK’s comprehensive underwriting features allow for consistent and efficient underwriting of each loan, regardless of size or complexity.
- Risk analysis features categorize loans by complexity, provided detailed collateral, borrower, guarantor and affiliate financial analysis and allow for management and operations review.
- Underwriting features can be customized including the lender policy, credit summary, commitment letter and risk ranking scorecard.
- With loan approval tracking, you can customize approval thresholds including signature or committee based approval.
- With data validation, ensure all required analysis has been completed and the data is accurate.
SPARK’s Disbursement Manager helps facilitate all aspects of the funding process quickly and efficiently.
- A borrower-facing draw request allows borrower to request funds online, with multiple deliver methods including check, ACH or wire.
- A central location to track disbursements, integrated with project accounting, helps you capture all required documentation necessary to track funds.
- Project accounting provides a central location to track loan and closing fees, manage the project budget and invoices.
SPARK’s streamlined Packaging capabilities help you seamlessly gather and track everything needed to package a loan.
- Automatically generate completed forms and documents, track the signature status of each document and customize document checklists.
- Integrated with the SBA so you can submit loans directly to the E-tran system and automatically assigns SBA loan numbers and authorization dates for PLP lenders.
- Borrower-facing features allow for submission of equity expenses and tracking of borrower equity.
Web Prequalification Plug-in
SPARK provides an optional website plug-in the help generate leads and streamline your customer experience.
- Provide a convenient and easy online option for your customer. Improve your response time by collecting the information you need to prequalify a business.
- Never enter information twice. The form integrates with the Spark loan origination platform to save your staff time and frustration.
- Tailor form fields to fit the unique needs of your organization.