Personal Resources Test
Due to the SBA reinstating the Personal Resources Test, the Credit Available Elsewhere section of SPARK’s SBA Eligibility Analysis has been updated to reflect the new requirements. All new packages and any that are prior to closing and don’t yet have an SBA loan number will use the new test.
Closing Date Changed Notification
We have added a notification that will be sent to package owners when a closing date changes. If you do not wish to receive this notification, it can be unsubscribed to from your profile settings like all notifications in SPARK.
Document Analysis Available on Funded Packages
We have enabled the “Analyze Documents” action on packages that are in the Funded stage.
Editing Package Summaries from the Documents Page
We have resolved an issue that would prevent a package summary (e.g. credit summary) document from being edited outside of the feature dedicated to that document type.
We have resolved an issue that would cause problems when consolidating analyses that used different templates for the same statement type. This was especially prevalent with packages that used Document Analysis to spread financials.
Document placeholders will no longer be automatically created if they were created manually. For example, if a 413 isn’t configured to be generated until Underwriting and one is manually created prior to that stage, a duplicate will no longer be generated. This will also fix the issue with duplicate tax return placeholders being created for packages created via document analysis.
Find Out More
For more information, download the SPARK 7.1.4 release notes. Stay ahead in SPARK and subscribe to your favorite categories.