Log-in to LoanWell with your username and password.
You will then be taken to your Dashboard where you can see all the applications submitted by your organization.
In the top right-hand corner of the Dashboard screen, click on "New Agreement" and a drop-down will appear. Select "Full Loan Origination for Commercial."
Fill out the first page of the Referral Application by answering all the questions shown below. When completed, hit "Next" on the bottom right hand corner of the screen.
Fill out the second page of the Referral Application by answering the questions shown below and uploading the Referral Form associated with your lending program.
You can find the Referral Form by navigating to the Lending Program Information on Commercial Loans. There you can select your program and then click on "Partner Referral Form" where you should be able to download a copy of the Referral Form.
When completed, hit "Next" on the bottom right hand corner of the screen.
Fill out the third page of the Referral Application by inputting the recommended Loan Terms for the Business being referred.
- Enter the recommended loan amount
- Enter the recommended # of payment periods depending on payment frequency. For example, if payments are quarterly, and the total loan term is 5 years, the # of periods is 20 (4 periods per year, for 5 years)
- Enter the number of periods from the question above, that are meant to be part of the deferral period. For example, if the deferral period is 1 year, the number of periods in deferral is 4.
- Enter the recommended interest rate
- Enter the recommended payment frequency (monthly, quarterly, semi-annually or yearly)
When completed, hit "Next" on the bottom right hand corner of the screen.
If you have any questions regarding how to calculate and enter loan terms, please reach out to [email protected] for support.
