Discuss potential loan with BND Business Banker.

Submit Application and supporting documentation to BND Business Banker. All required documents must be submitted before underwriting can begin.

1. BND Business Banker will review application and supporting information and begin underwriting process.
2. Loan approval timeline is dependent upon exposure and risk rating, approximately 5-7 business days.
3. BND will contact lead bank with questions during this time.

If approved, Lead Lender receives email containing commitment letter, program specific documents, and documentation checklist.  If denied, Lead Lender receives email with denial notification.

• Commitment Letter: Contains terms of participation and conditions of the approval as well as process and contact information.
• Program Specific Documents: Lead Bank is responsible for obtaining all required signatures and returning to BND prior to funding. Originally signed documents are not required.
• Documentation Checklist: Outlines all documentation needed on the loan. The status will indicate if the document is required prior to funding, on-going, or needed after the loan funds.
• Additional Requirements: BND doesn’t track these, but requires lead lender to monitor them.

1. Lead Lender reviews and signs commitment letter and communicates the estimated funding date.
2. Email executed commitment letter to bndloanfunding@nd.gov.
3. Lead Lender can begin sending loan documents and supporting documentation needed prior to funding as it is available to bndloanfunding@nd.gov.

1. Verify all preliminary unsigned documents have been sent to bndloanfunding@nd.gov 24 hours before closing for review by BND.
2. BND funding team will communicate any questions or concerns via email.
3. Executed documents will need to be sent to bndloanfunding@nd.gov prior to BND finalizing the funding. BND's cut off time is 3 p.m. CT, however, BND can back date.
4. BND will provide verification of funding once the process is complete.