Wolters Kluwer Financial Services launched the TSoftPlus solution in February of this year to help banks and credit unions originate SBA loans more rapidly and efficiently while meeting SBA program guidelines and regulatory requirements. The new solution builds upon the companyâs TSoft SBA FormMaster+ software that financial institutions have come to rely upon for efficient and compliant SBA loan processing for more than 15 years.
Sunwest Bank had previously used TSoft FormMaster+ in the processing and origination of SBA loans but made the switch to TSoftPlus for several reasons, according to Steve Gaston, senior vice president, and Kim Dague, assistant vice president and SBA loan co-ordinator for the bank.
âTSoftPlus integrates better with our SBA lending workflow, helping us to automatically generate the required compliance documents, which is a real time-saver as our customersâ demand for SBA lending is rapidly increasing,â said Gaston. âTSoftPlus also gives us the ability to manage our SBA lending transactions from beginning to end. While we do currently outsource some of our SBA loan origination, weâre confident TSoftPlus will help us realize our goal of eventually moving the entire process in-house.â
TSoftPlus builds upon the prior TSoft FormMaster+ solution by offering financial institutions an updated browser-based user interface that is easy to navigate. It can be accessed via a bank or credit unionâs intranet and is fully-scalable for single or multiple organizations. Because it is browser-based, the solution does not require additional installations or updates on each workstation when new versions are released. And because the bank or credit union hosts the software and all borrower data on its own intranet, it controls the security of this information.
The TSoftPlus solution also utilizes Wolters Kluwer Financial Servicesâ automatic document selection technology to produce easy-to-use, PDF loan files for e-mail, printing and submission to the SBA. The solution can fully integrate with the SBAâs Authorization Wizards using Microsoft WordÂ®, which allows banks and credit unions to submit loan applications and receive approvals through the SBAâs E-Tran system. In addition, banks and credit unions can also perform financial analysis in Microsoft Excel, which is integrated within the solution.