In the application, you will price all new business within an Opportunity. To create a new Opportunity, click the New Opportunity button in the upper left hand corner. This drop down will provide a list of possible Commercial Loan Products around which you can create a new pricing Opportunity. This list is completely customizable and should represent the types of Commercial Loans that you typically price at your institution. To begin pricing a loan, type the name of the Loan Product in the Search field or select the applicable Commercial Loan Product name from the list.
If you need to price more than one loan facility within this one pricing Opportunity, you can easily add loans to the Opportunity later. For now, just select the main loan facility for this Opportunity. For example, if you are pricing a $1MM Commercial Real Estate loan along with a $150K Operating Line of Credit, you should just choose the Commercial Real Estate product and then add the smaller Operating Line of Credit once the Opportunity is open. If you are pricing an Opportunity without any loan facilities, you can choose Deposit/Other and this will create an Opportunity without any Commercial Loan Product.
When you open the New Opportunity Screen, PrecisionLender will automatically populate the fields with that Product's default settings for your institution. You can edit these fields if desired.
You can name your opportunity in the "Name" field in the upper left. You can change the loan amount in the "Amount" field, and set the interest rate for this Opportunity by clicking in the "Rate" field, and typing in the desired rate. Andi® will calculate what interest rate you need to reach your target and the number of suggestions she has will be indicated by the red dot notifications. She also shows you what your borrower's payment will be at the current interest rate, if you click within the "Rate" field.
As you change the opportunity, the footer tabs at the bottom indicate how your Opportunity as it stands now compare to your target (on the left) and how your current opportunity affects the whole relationship, if one is attached (on the right). On the left tab, if you only have one account in the opportunity both bars will be identical.
From here, you can continue to customize the Opportunity until you and the borrower are happy with the terms. You can also add additional Commercial Loan Products, Deposit Products, or Other Products. Make sure to click "Save" at the top left when you are done.
For more information on pricing Opportunities, please visit our support article The Opportunity Screen.