The SPARK team
Release Notes

SPARK 7.3 Release Notes


What's New

These features were released January 2, 2021. Here are some new features we included in this release.

Scoring Dashboard

A new Scoring Dashboard has replaced the Credit Scoring and SLA Scoring features. This dashboard is the new one-stop shop for all business and individual credit reporting.

Integrated Personal Credit Reports

SPARK now supports direct integration with Equifax, Experian, and TransUnion. This new integration includes the following capabilities:

  • Automatic capture of the credit score along with a tradeline summary, derogatory summary, and key alerts

  • Detailed credit report PDF

  • Support for hard and soft pulls

  • Support for tri-merge credit reports

Integrated PayNet Business Credit Reports

A PayNet business credit report can now be pulled directly in SPARK.

New Credit Scoring Permissions

Prior to this release, SPARK included permissions for controlling who can request SBSS reports, SLA reports, and manage business / personal credit reports. SPARK now supports more granular permissions that are configured at the product-level. SPARK administrators can now control who has access to order a report, who can view the score, and who can view the details of the report.

Credit Report Usage Tracking and Auditing

In addition to the new credit scoring permissions, we’ve added auditing so that SPARK administrators can see who is requesting credit reports as well as who has viewed credit reports.

E-Tran Two-Factor Authentication

The SBA has made it a requirement to use two-factor authentication in order to access E-Tran. Once SPARK 7.3 is released, all SBA lenders will be required to enter a PIN prior to performing an action that requires access to E-Tran. This includes refreshing the lender agreements, SLA scoring a loan package, submission to E-Tran, and E-Tran document uploads.

What's Changed

We've made a few changes to the platform that will be live with this new release.

PPP Forgiveness Applications and Default Values

The SBA has extended their forgiveness API to include the Loan Disbursement Date, EIDL Application Number, EIDL Amount, and EIDL Advance Amount. All new forgiveness applications will default to the loan disbursement date provided by the SBA. In addition, new forgiveness applications with an EIDL Loan will have the EIDL Application Number and EIDL Advance Amount populated.

SLA Scoring

The SLA Scoring feature has been moved to the new Scoring Dashboard.

SBSS Scoring

The SBSS integration (FICO LiquidCredit) has moved to the new Scoring Dashboard.

Manual Personal and Business Credit Reports

Lenders who currently manually add personal and / or business credit reports will now use the new Scoring Dashboard.

Guarantor Analysis

The credit history tab of the guarantor analysis has been updated to align with the credit report summary included in the new scoring dashboard. In addition to the updated display, credit analysts can now select the credit report to analyze.

If SPARK’s new personal credit integration is enabled, the personal debt summary table included in guarantor analysis is automatically generated and will include new columns for the number of tradelines per category as well as the past due amount.

Lead Conversion and Package Owners

The package owner is now assigned as the user who sent out the information request so that all information request-related notifications are sent to the owner instead of the user who converted the lead.

Debt Schedule Section in Credit Memos

The debt schedule section available in credit memo templates now supports filtering by business debt, personal debt, or both.

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A new message is displayed on SPARK’s homepage when people are using a web browser that has cookies disabled. SPARK will not function properly when cookies are disabled.

What's Been Fixed

Here are some things we fixed that will be live in the next update.

Reverting a PPP Forgiveness Application to Signed

We made a change so that PPP applications submitted to the SBA cannot be reverted if the SBA has started a review.

PPP Forgiveness Applications and the Estimated Forgiveness Amount for 3508S Submissions

SPARK was reporting an incorrect estimated forgiveness amount on a 3508S submission so logic was added to enforce that the forgiveness amount could not be greater than the overall loan amount. This was a SPARK display issue and not an issue with what was reported to the SBA.

Addresses not created for Leads Created through the API

There was an issue with addresses not being created when leads using the full state name were submitted through the API.

Convert Selected Leads Action

The lead listing’s “Convert Leads” action was visible even when converted leads where selected.

Ownership Demographics

An issue with how SPARK was calculating ownership demographics (race, male / female, etc.) was resolved.

Primary Contact / Primary Business Information not populated in SPARK reporting

An issue related to primary contact and primary business columns not populating in SPARK’s reporting was resolved.

Copy Package and SBA Eligibility Changes

There was an issue with copying packages after the SPARK 7.2.1 release that was quickly resolved.

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