Overview

Andi® asks a series of questions to check if a loan and borrower qualify for the CARES Act Programs. If eligible, Andi® will list all qualifying programs and will coach you through structuring the loan for the program you select. This article will cover configuring and testing the skill, and viewing and enabling it in PrecisionLender.

 

In This Article

 

Configuring and Testing the Skill

skill_config_cares_act.png

Prior to enabling the skill for Production, you first need to ensure that the skill is working properly by testing it. To do this, navigate to the skill details page to configure and enable the skill for your Testing workgroup:

  • Select Testing under the Status section.
  • In the Version drop down, select the version of the skill that you want to test. This will display the skill configurations.
  • In the Skill Configs section on the skill details page, enter the following information to configure the skill:
    • Additional Information Link - (Optional) Andi will offer additional guidance that refers users to PrecisionLender's PPP support article. If you'd like to refer users to a different source, add the URL to this field. Otherwise leave it blank.
  • Select Save to enable the skill for the Testing workgroup. Once you've enabled this skill for testing, make sure you've added the users who will be testing the skill to the Testing workgroup.
                                                                          

Viewing the Skill in PrecisionLender

shows the cares act message in andi

 

When you begin pricing a loan in PrecisionLender, select Andi® to view the CARES Act Program Eligibility message. In the Andi® window, click on the hyperlinked message to check if the loan and borrower qualifies for any of the CARES Act Programs.

shows andi asking cares act eligibility questions

 

After selecting the message, Andi® will check to see if the loan and borrower qualifies for any of the CARES Act Programs by asking the following questions:

  • Is this borrower a Small Business, Non-Profit, Tribal Business, or Veteran's Organization?
  • Were they in business as of Feb. 15, 2020?
  • Were they under $2.5B in revenues in 2019?
  • Are they organized in the US or under US laws and with significant operations and majority of employees in the US?
  • Are they already participating in any Main Street loan facility or Primary Market Corporate Credit Facility?

Select Yes or No. Depending on your selections, Andi® will let you know whether or not the borrower qualifies.

Qualifying_programs.png

If the borrower qualifies for one or more of the CARES Act Programs, Andi® will list them. From here, you can select the appropriate program and Andi® will coach you on how to structure your loan according to that specific program.

Andi® looks the current loan structure and will identify and list out any problems with the loan. If you decide to go back to make changes to the loan, Andi® will guide you through the process. Once you update one of the suggested fields, orange summary tags will appear next to all fields that need to be updated. Note: Always remember to save the opportunity to apply your changes.

 

Enabling the Skill in Production

After you've viewed and tested the skill, you are ready to enable the skill for the Production workgroup.

  • Navigate back to the skill details page for the skill you were testing and mark it as Ready For Production.
  • In the Status section, select Production and choose the version of the skill you're enabling. When the latest skill version is published by the skill owner, this will automatically be available for selection in the list.
  • Re-enter the skill configurations.
  • Select Save to enable the skill for the Production workgroup.

Note: After enabling the skill in Production, we recommend disabling it for the Testing workgroup. 

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