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.