Business Tab

 

The Business tab is found in all business applications.  This tab supports multiple businesses, with a subsection for each business.  The business name you entered on the New Application page is automatically designated as the Primary business.

Completing the Business Tab

A Business tab is generated for the Primary business (the business name you entered on the New Application page).  To generate a form for an additional business, click the icon.  Clicking the icon again generates a second form, and so on, for as many forms as you need.

Options for working with the business subsections can be found on the Action menu.  Click the icon at the right end of the subsection heading bar to see the available options.

Note:  The Open Consolidated Statements and Spread Statements options may also be available for products configured to use the Consolidated Financial Statement.

• Make Primary:  Select this option to designate the current business as the primary business on the application.  This option is not available for the business currently marked as primary.

• Lookup Business Information:  Choose this option to search your Baker Hill Origination database for additional information on this business.  It opens the Lookup Business Information Dialog Box, allowing you to search Baker Hill Origination or the CIF (Customer Information File) by Business Name and/or Tax ID number.

  Note:  The Date of Update is not imported from the CIF.  Therefore, this column will be empty for items imported from the CIF.

  If search results are returned, you can right-click the application in the Search Results area and choose Copy Data to copy the business data into the current application.

  Note:  Not every field in the Baker Hill Origination Application is populated when importing data from the CIF.  This document contains a list of the data imported from the CIF for each section of the application.

  After the Search Business Information has executed, Baker Hill Bank2Business displays the matches from the CIF along with matches from within Baker Hill Origination.  A column in the list of results displays the source of the match.

  Note:  Baker Hill Origination passes the Full Name or Tax ID Number of the business to the CIF for use in looking up business information.

  The following business information is imported from Baker Hill Advisor:

  Client ID	Tax ID	Street Address
  City	County	State
  Zip Code	Telephone	Fax Number
  Mailing Address	Mailing Address City	Mailing Address Zip Code
  Mailing Address State	Web Site Address	Email Address
  Doing Business As name	DDA Balance	Number of Employees
  NAICS	Legal Name	Annual Sales
  Legal Structure	Present Management Since	Date Business was Established

   

  Note:  Baker Hill Origination imports the address marked as Primary in Advisor. If the primary address for a Business is the mailing address, the mailing address is imported into both the business Address and the Mailing Address subsections of the Application page.

• List of Similars: When the business bureau search on a judgmental application returns a list of similars, choose this option to open the List of Similars dialog box and select the appropriate business listing.

• Delete Business: Select this option to delete the current business from the application. This option is not available for the business currently marked as primary.

  Note:  If you delete an applicant from the application, any relationships between that applicant and products are also deleted. If you delete an applicant that has a Primary Direct relationship with one or more products, those products will be moved to the Other Contingent Debts section of the Debt Relationship Management dialog box. If all the applicants related to a debt are removed, the debt will be removed from the application.

Notes about some of the fields in this section:

• The Doing Business As field will automatically be filled with whatever you enter for Legal Name.  (You can then edit the Doing Business As field if necessary.)

• The Federal Tax ID and Zip fields are automatically filled with what you entered on the New Application screen.

• If an exact match for the business can’t be found in the Dun & Bradstreet or Experian database (depending on which reporting agency is specified in your setup), the application will be returned for edits.  To facilitate processing, enter the business’s D-U-N-S or Experian number (if known) in the Experian/D&B D-U-N-S Number field.

  Note:  To prevent Bank2Business from pulling a business report, enter the text NO-REPORT into the Experian/D&B D-U-N-S Number field.  The text must be entered exactly as written (in all capital letters, no spaces, with a hyphen), to be accepted on the Application page.

• Enter the Equifax Commercial Information Solutions ID in the EFX ID field in the Business section of the Application page.

• In order to help your financial institution comply with the USA PATRIOT Act (requiring positive identification of new customers), the business identification fields (Existing Customer, Business Identification, Description) appear for all applications.  Note that if you mark the Existing Customer field as Yes, meaning that you have a reasonable belief as to the identity of the person, the other identification fields are not required.

• During the transition period from SIC to NAICS codes, applications contain a field for each code.  At present, the SBSS models evaluate only the SIC codes.  If you enter a NAICS code and no SIC code, Bank2Business will find the applicable SIC code when processing the application and will use that code for scoring purposes.  If both a SIC code and a NAICS code are entered, the SIC code description will be used for the SIC Description field on the decisioning form.  Use the NAICS/SIC Search link to look up the code you need.

• You have the option to enter a Mailing Address for the business applicant.  Answer Yes to the Use Mailing Address in Correspondence? question to use the mailing address in any letters addressed to this business.  Leave the field blank, or select No from the list, to use the Business Address in correspondence instead.

  Note:  If you answer Yes for the mailing address question but do not complete the mailing address fields, any correspondence generated for this business will include blank address lines.

• The Visit button takes you (or any viewer of this application) to the Web Site Address entered.

• The Annual Sales Revenue field is especially useful for products that don’t include the Business Financial Information section in the application.

• The Primary Checking Location list allows you to track which competitors your applicants are banking with.

• The Yes/No fields at the bottom of the section are required.  If you choose Yes, a text field appears, allowing you to enter explanatory comments.

 

      

 

This topic was last updated February 8, 2019.

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