Staff Training: Applicant Identification & Pre-qualification - OneFin
🎓 STAFF TRAINING MODULE

Applicant Identification & Pre-qualification

Comprehensive training guide for identifying potential borrowers through marketing channels and conducting initial pre-qualification screening for SBA loan programs

🎯
Objective & Goals

The primary objective of this phase is to identify qualified prospects and conduct initial screening to determine basic SBA loan eligibility before investing time in detailed applications.

Success Metrics:
• 65%+ pre-qualification rate from qualified leads
• 15-minute average screening time
• 90% accuracy in initial assessments

Key Performance Indicators:

  • Lead qualification rate
  • Conversion from inquiry to pre-qualified
  • Time to initial contact
  • Accuracy of pre-qualification decisions
  • Customer satisfaction scores
⏱️
Process Timeline

Standard timeline for identification and pre-qualification process:

0-2 Hours
Initial lead capture and basic information collection
2-4 Hours
Credit check and basic business verification
4-24 Hours
Detailed phone screening and qualification
24-48 Hours
Pre-qualification decision and notification
Important: All qualified leads must be contacted within 2 hours during business hours, 4 hours outside business hours.
🔄
Identification & Pre-qualification Workflow
📊
Lead Generation
Marketing channels generate qualified leads
📝
Initial Capture
Basic information collected and verified
🔍
Quick Screen
Credit check and basic eligibility review
📞
Phone Interview
Detailed qualification conversation
✅
Decision
Pre-qualification determination
📈
Marketing Channel Identification

Understanding where leads originate helps tailor the pre-qualification approach and set appropriate expectations.

🌐 Digital Marketing
Online advertising, SEO, social media campaigns, and content marketing efforts
Avg Quality Score: 7/10 | Conversion Rate: 12%
🤝 Referral Partners
Brokers, accountants, attorneys, and other professional referral sources
Avg Quality Score: 9/10 | Conversion Rate: 35%
📱 Direct Marketing
Email campaigns, cold calling, direct mail, and targeted outreach
Avg Quality Score: 6/10 | Conversion Rate: 8%
🏢 Trade Shows & Events
Industry events, networking meetings, and business exhibitions
Avg Quality Score: 8/10 | Conversion Rate: 22%
📞 Inbound Calls
Direct inquiries from website, advertisements, or word-of-mouth
Avg Quality Score: 8/10 | Conversion Rate: 28%
🔄 Repeat/Existing
Previous clients, referrals from existing customers, repeat business
Avg Quality Score: 9/10 | Conversion Rate: 42%
Channel-Specific Approach:
• Referral partners: Warm introduction, expedited processing
• Digital leads: Educational approach, build trust first
• Cold outreach: Value proposition focus, overcome skepticism
• Existing clients: Leverage relationship, streamlined process
📋
Initial Information Collection

Required Basic Information:

  • Business name and legal structure
  • Owner name and contact information
  • Industry type and NAICS code
  • Years in business
  • Number of employees
  • Approximate annual revenue
  • Requested loan amount
  • Intended use of funds
Personal Information
Full name, SSN, address, phone, email, ownership percentage
Business Details
Legal name, DBA, EIN, address, structure type, formation date
Financial Overview
Annual revenue, cash flow, existing debt, bank relationships
✅
Pre-qualification Criteria

Use these criteria to determine initial eligibility:

✅ Automatic Qualify
• Credit score 700+
• 2+ years in business
• $250K+ annual revenue
• No bankruptcies/liens
• Clear use of proceeds
⚠️ Conditional Review
• Credit score 620-699
• 1-2 years in business
• $100K-$250K revenue
• Minor credit issues
• Industry considerations
❌ Likely Decline
• Credit score under 620
• Less than 1 year in business
• Under $100K revenue
• Recent bankruptcies
• Restricted industries
Red Flags - Immediate Concerns:
• Vague or evasive responses
• Unrealistic revenue claims
• Poor credit with no explanation
• Prohibited use of funds
• Unwillingness to provide basic information
🔍
Credit & Business Verification Process

Credit Check Procedures:

  • Obtain written authorization for credit pull
  • Pull personal credit report (Experian/Equifax)
  • Review business credit if available
  • Check for bankruptcies, liens, judgments
  • Analyze payment history and utilization
  • Document credit score and key factors
Credit Authorization Script
"To move forward with your pre-qualification, I'll need your authorization to pull your credit report. This will be a soft pull that won't affect your credit score. Can I get your verbal authorization to proceed, and I'll send you the written form to sign?"

Business Verification:

  • Verify business registration with state
  • Confirm EIN with IRS database
  • Check business licenses and permits
  • Verify physical business location
  • Confirm years in operation
  • Check SBA debarment list
Verification Tools:
• Secretary of State databases
• IRS EIN verification system
• Google Maps/Street View
• Business license databases
• SBA debarment search