Alia Abboud, Product Manager

SPARK Product Update to Prime Rate Banner

AUTHOR: Alia Abboud, Product Manager

On Wednesday, April 26th in the evening, we will release an update supporting the option to dismiss the WSJ Prime Rate banner on a package until the 1st day of the following month.

With the increased frequency of Prime Rate changes, this update gives lenders the option to apply the new rate to a package in the following month depending on when they plan to submit the loan to E-Tran. This additional flexibility simplifies the process of complying with the SBA's delay in implementing rate changes.

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