Loan Progress

A progress bar is displayed across the top of the BusinessCenter page. The percentage represents the number of documents uploaded relative to the number required to complete the loan package. If you add a guarantor, the percentage decreases until the guarantor uploads the additional required documents.

Keep in mind that adding a guarantor can make your progress go down, as it adds to the total remaining documents in the loan package.

Uploading Documents

Loan package documents are displayed in categories. Below the Total Loan Package Progress bar, a red circle shows the number of remaining documents to be uploaded. As documents are added, the number in the red circle decreases.

Document categories are displayed in color-outlined boxes (red = required, gray/dashed = optional, green = already provided). To upload a document, drag a file from your system onto its category box, or click the "+" to select a file to upload.

After a file is provided for a document category, its color-outlined box turns green, as shown below.

Deleting Documents

To delete an uploaded document, left click and choose "Delete."

Linking Financials

The simplest way to provide your financials is to allow BusinessCenter to retrieve information from your accounting system. When you link, BusinessCenter automatically generates your financial statements. The "Link" tab appears on document categories for which you can link your accounting system. Click the "Link" tab in a document category to begin linking.

Next, select your accounting package.

Follow the steps provided to connect your accounting package to the Finagraph engine.

Once the link is complete, BusinessCenter automatically provides the documents generated from your accounting package, and the color-outlined category box turns green.

Guarantors

A guarantor is a person or entity that agrees to be responsible for another's debt under a contract if the original borrower fails to pay.

Adding a Guarantor

Click the "+ Add" button in the Guarantors section on the right side of the page.

There are two types of guarantors: individual and business.

  • When adding an individual, the name and email address are required.
  • When adding a business, four fields are required: business name, primary contact name, primary contact email address, and legal entity.

Inviting a Guarantor to BusinessCenter

After adding a guarantor, the borrower can invite the guarantor (via email) to access BusinessCenter and upload documents. Select the guarantor's name in the Guarantors pane and click the envelope button.
Note: To ensure the privacy of all parties, the borrower cannot view guarantors’ individual documents and vice versa, nor the guarantors' business documents. All parties can view the borrowing business documents in BusinessCenter.

Deleting a Guarantor

The borrower can delete a guarantor any time. Select the guarantor's name in the Guarantors pane and click the trash button.

Editing a Guarantor

The borrower can edit a guarantor any time. Select the guarantor's name in the Guarantors pane and click into any of the fields to edit. To save your edits, click the disk button.

Status of Requested Documents

There are three statuses of requested documents: remaining, provided and optional. 

Remaining

Required.png

Empty red-outlined box = document is required to complete the loan package.

Provided

Provided.png

Green-outlined box with document icon = document has been provided to complete the loan package.

Optional

Optional.png

Empty gray/dashed-outlined box = optional document to be provided if you have it.