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CommonGoals Software
intuitive...insightful...innovative
software solutions
  • Home
  • TEA (The Exceptional Assistant)
    • Core Modules
      • Client Module
      • Loan Module
      • Project Module
      • Reporting Module
    • Add-On Modules
    • FAQ
    • Product Demos
  • SERVICES
  • TRAINING
    • Training Options
    • Training Schedules
  • SUPPORT
    • Support Options
    • Open a Support Ticket
    • TEA Knowledge Base
  • ABOUT US
    • Our Company
    • Our Customers
    • Events
    • Investors
    • Careers at CGS
    • Our Policies
  • CONTACT US

COVID-19 Loan Relief Utility for TEA 10

As part of an initiative to assist our clients in providing loan relief strategies for their respective customers, CommonGoals Software has developed the COVID-19 Loan Relief Utility for TEA 10. The utility will enable our customers to provide loan relief strategies in the following key areas:


  • Suspending Interest (Globally or on selected records) – Feature provides a temporary suspension of interest accruals during the COVID-19 crisis with the option to Discard | Apply | Capitalize the interest

  • Hold Payments (Globally or on selected records) – Suspends all payments due in the Amortization Schedule from affecting Transaction Processing, EFT/ACH, Invoicing and Delinquency Reporting

  • Suspending Late Fees (Globally or on selected records) – Suspends Late fees from being assessed on loan accounts during the COVID-19 crisis

All of these features currently exist within TEA 10 but are normally set on a single loan at a time, based on necessity and internal processes.  Our utility allows you to select any subset of active loans, including all loans, in your portfolio and apply the necessary changes at the same time, significantly expediting the process to implement loan relief strategies for your clients during the COVID-19 crisis.  As well, the utility keeps tracks of the affected loans and provides the ability to reverse the processes once the crisis has dissipated and your lending procedures return to normal.

PLEASE PLAN TO ATTEND ONE OF THE FOLLOWING WEBINARS.

COVID-19 Loan Relief Utility for TEA 10 WEBINARS
Name/Area of Focus Date(s) Time Action
COVID-19 Loan Relief Utility for TEA 10
Read Q & A from live webinar (PDF)
TUES, March 31, 2020 2:00PM EST
~60 mins
Watch Recording
COVID-19 Loan Relief Utility for TEA 10 THURS, April 2, 2020 1:00PM EST
~60 mins
Register
COVID-19 Loan Relief Utility for TEA 10 TUES, April 7, 2020 2:00PM EST
~60 mins
Register

What our customers are saying

  • We have dealt with CommonGoals Software for 15 years. They have provided TEA software for the CBDC Network. Both the software and their support services have been excellent and allowed our network to streamline processes, reporting to stakeholders and centralize all client services in one efficient database. Additionally, CGS has provided custom development services creating an integrated website for all stakeholder reporting required for the program.

    Brian LeBlanc
    Atlantic Association of CBDCs
  • TEA has been the backbone of our organization for client services and lending activity for a decade. It creates efficiency for the majority of the processes we require and has provided all the required management and funder reports for our operations.

    Mike Wilcocks
    Tecumseh Development Corporation
  • TEA greatly streamlines many processes for our team, especially for those who are working remotely. In addition, the TEA Support Team has provided us with extraordinary support and is always a pleasure to deal with.

    Clint Gwin
    President, Pathway Lending (CDFI)
  • TEA has been extremely helpful in producing our reporting requirements to our funders.  It greatly saves us time and the reports are customizable to provide exactly what we need.

    John Mercola
    Business Development Corporation
  • I have been a strong supporter of TEA within the CF family of organizations. I find it is a very useful tool and the CGS team is always very helpful and quick to resolve issues as they may arise. TEA has streamlined our organization’s data management immensely in the past 5 years and I see CGS as our partner in data management solutions; developing resources that create efficiencies.

    Vickie Newmeyer
    GM, Community Futures Meridian Region

Contact Info

  • CommonGoals Software
  • 193 Water St. West, Suite 301 Prescott, ON Canada K0E 1T0
  • 800-354-5152
  • sales@commongoals.com

Company Info

CommonGoals Software is a software development company that develops and sells custom software solutions and related services to community-focused, government and non-traditional lending agencies across North America.

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