We split “yes”, project interest due and have it set 15 days prior.  The only type that functions different is floor plan which is at -1 so bill drops on date due.  We do bills, not statements.

 

From: xxxxxx@marug.simplelists.com <xxxxxx@marug.simplelists.com> On Behalf Of Kate Walters
Sent: Friday, February 9, 2024 12:49 PM
To: 'xxxxxx@simplelists.com' <xxxxxx@simplelists.com>; xxxxxx@marug.simplelists.com
Subject: SilverLake MA-RUG RE: Commercial Loan Payments

 

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Hi,

 

We split as billed -  yes.  If the loan is a line of credit, we use Accrual Billing Method of Bill Date so we are only billing interest as of the bill date.  We bill 15 days prior. 

 

 

Kate Walters
Vice President, Loan Operations System Administrator
Our mission is your success.
Shore United Bank | 28969 Information Lane, Easton, MD 21601
Office: 410-763-8291 | Internal: x21048 | Fax: 410-763-8415
xxxxxx@shoreunitedbank.com | ShoreUnitedBank.com
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From: xxxxxx@marug.simplelists.com <xxxxxx@marug.simplelists.com>
Sent: Friday, February 9, 2024 12:44 PM
To: xxxxxx@marug.simplelists.com
Subject: SilverLake MA-RUG Commercial Loan Payments

 

Happy Friday!

 

Curious on how other institutions split their loan payments for commercial loans. Do you use split as billed yes or no? How many days ahead do you have the system cut the bill?

 

Thank you in advance for your responses.

 

Dawn Andrews

Artisans Bank – VP Loan Operations

2961 Centerville Road

Wilmington DE 19808

xxxxxx@artisansbank.com

Department email: xxxxxx@artisansbank.com

Department phone: 302-658-6857

 

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