Companion Packages - What to Expect

We are excited to connect with you in our Release Webinar tomorrow where we will introduce you to Companion Packages! Companion Packages (also known as Companion Loans) are two or more loans or packages that are structured to jointly finance a single project. Companion Loans have been the most requested item from customers in my time with SPARK and our Product team has been hard at work making it a reality.

Because this new capability will touch virtually every part of SPARK, the process to take advantage of it will be a little different than most releases. If Companion Loans are something that your organization would like to use, the Customer Success Team will be working with you to ensure that Companion Loans behave as you and your team want them to. A number of items - including Document Placeholders, Commitment Letters, Credit Memos, Fees, Tasks, and more - will need to be configured to your specifications so that Companion Loans can be created in the most efficient manner possible. The steps to complete that process will be as follows:

• Initial Consultation - A brief meeting to outline all features that need to be configured and how they will behave in Companion Loans

• Configuration Decisions - SPARK Customers will outline the different areas of SPARK that need to be configured, and the decisions Lenders need to make to enable Companion Loans (with help from SPARK's Customer Success Team)

• Configuration Build - SPARK's Customer Success Team will implement the decisions made by Customers

• Validation - SPARK Customers will review and confirm the Configuration Build completed by the Customer Success Team

• Training - SPARK's Customer Success Team will train Customers on how to best use Companion Loans

Beginning next week SPARK's Customer Success Team will be available to start scheduling this process.

If you have any questions, please reach out to your Customer Success Manager or email me directly at tanner.bruhschwein@lendwithspark.com.