Application Workflow

Financing applications will go through the following stages:

1 – Submission

  • A – completed application form with 3 months prior business bank statements; all clear and legible
  • B – incomplete; this needs to be an ALERT that goes back to the person who referred us the client

2 – Processing

  • A – Lender confirms all paperwork is complete, accurate and legible – submits to Underwriting
  • B – Incomplete; this needs to be an ALERT that goes back to the person who referred us the client

3 -Underwriting

  • A – Lender pulls credit on client, confirms bank statements’ accuracy creates OFFER for client
  • B – Incomplete; this needs to be an ALERT that goes back to the person who referred us the client

4- Offer

  • A – Lender offers client rates and terms for loan – client accepts and final contract is send to client
  • B – Lender refuses to grant OFFER to client; find out reason(s) and consider submission to alternative Lender

5 – Funded

  • OnDeck confirms final contract is approved and funds are deposited into clients account within 24hrs, commissions paid out to BLVCK DIVMOND LLC within 7 business days thereafter

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