The selected firm will: Prepare a detailed program design, screening criteria, and lending criteria that will guide all lending decisions. Design the application intake portal to include screening questions, collateral, business financial data, business plan, impact data collection, and other items required for proper loan underwriting and reporting needs. Develop and maintain the application process within the internal platform to validate the eligibility of applicants, including tools and protocols to ensure high-quality review and loan decisions. Serve as administrator – processing applications that move from applicant submission on the portal through loan decision. Communicate with applicants, to facilitate gathering all required application documents once the application has been started. Leverage available employees and/or hire temporary contractor worker(s) to process the applications as needed. Offer guidance on how to make the SBLP more equitable, effective, and efficient. To close on collateral. Manage the loan process and distribute loan payments. Service the loan portfolio and council delinquent and problem borrowers. Report quarterly the success and progress of SBLP to Portsmouth Economic Development Authority. Create and execute a marketing plan to advertise the program and recruit applicants. Provide quarterly reporting on the progress of SBLP and the expenditure of funding.
