List of Services

Implementation or Review of Member Business Loan (MBL) or Commercial Loan Department

Interested in starting a Member Business Lending (MBL) program at your institution? We can assist with the entire implementation and support after the program is launched. We will provide the custom policies, procedures and processes specific to your institution. From there we can be as much or as little of your MBL department as you would like. We can even represent your loan department as contracted loan officers and meet with your members, propose loan structure, underwrite, order due diligence, prepare closing documents and service the loan for you.

Review an Existing Member Business Loan (Commercial Loan) Department

Does your financial institution already have a Member Business Loan or Commercial Loan Department? Have they worked to establish commercial loan policies, processes, procedures, but feel your success and portfolio could increase with an independent review of those items to ensure compliance with regulations and maximize efficiency? We can assist! Element 22 wants to see you succeed in the commercial industry. We will provide customized recommendations to improve efficiency and mitigate risk that coincides with your organization’s risk tolerance.

A La Carte Services

Our a la carte offerings provide maximum flexibility based on your needs.

Loan Referral Opportunities

Given our extensive background and the connections we have fostered during our combined 30-plus years in the commercial banking industry, we often see loan opportunities throughout the State of Michigan and the country. We provide your institution the opportunity to participate in or take the lead on these financing requests. We can also present Small Business Administration (SBA) or US Department of Agriculture (USDA) loans which could result in additional non-interest income and risk mitigation.

Loan Underwriting

Element 22 Commercial can prepare a full underwriting document for approval.

Loan Documentation & Due Diligence

• Once the loan is approved by the credit union and borrower accepts the terms we will order and review all of the necessary due diligence items and prepare the required loan closing documents such as: Appraisal/title work/environmental/flood certs.
• Preparation of loan closing documents such as:

• • Promissory Note
  • Business Loan Agreement
  • Personal and Corporate Guarantees
  • Corporate Resolutions
  • Mortgages
  • Security Agreements
  • Coordination with title company, buyer, seller, attorneys where applicable

Servicing

For Element 22 Commercial servicing your loan is just as important as closing and loading onto your core system. Loan servicing from Element 22 Commercial Group will consist of the following sample of items:

• Analysis, tracking, and reporting of the portfolio
• Collection and tracking of documents, such as personal financial statements, annual tax returns, borrowing base certificates, etc.
• Ensure property tax and insurance requirements related to collateral are up to date and documented
• Prepare annual reviews as required by loan policy
• Conduct site visits when applicable

Strategic Consulting Services

• Assistance with collection of loan delinquencies, loan restructuring, loan workouts, liquidation of collateral
• Additional assistance relating to updating, editing, discussing policies, processes, procedures
• Strategic planning sessions with board, executive team or other staff
• Meeting with auditors, examiners, reviewers as deemed necessary
• Evaluate current business deposit account products
  • Provide market analysis
  • Establish baseline metrics
  • Establish strategic goals for deposit products
  • Design or update existing business deposit account products
  • Discuss implementation of a Private (high dollar deposit/ high net worth) Banking Program if desired
• Evaluate treasury management products
  • Provide market analysis
  • Establish baseline metrics
  • Establish strategic goals for treasury management products
  • Design or update existing treasury management products
• Assist with the implementation of a secondary market program for SBA loans
• Review any existing SBA loans and evaluate selling into the secondary market. If there is a desire to sell, Element 22 Commercial Group will assist with the setup and sale of the loan into the secondary market
  • Assistance with the monthly 1502 report submission for SBA compliance and other reporting required for government lending programs
• Assistance with the setup, implementation, and servicing of Small Business Administration (SBA), United States Department of Agriculture (USDA) or the Michigan Economic Development Capital Access Program (CAP).

Loan Origination & Renewals

We will provide on-call assistance as consultants, to meet with borrowers, in person or via phone, as desired by your credit union, for loan opportunities to understand their business and properly structure loans to meet borrower needs and benefit the credit union.