When does the first payment get taken out of my account?

The first payment will be withdrawn from the account submitted at closing on the first business day of the following month. You can find the account details within the funding documents sent at the time of funding.

Can I change the date my payment comes out on?

Unfortunately, this cannot be changed, payments will always come out via ACH on the 1st business day of the month.

How do I change my ACH information?

f you need to change the bank account used for your monthly automatic payments, please complete the “Authorization Agreement for Preauthorized Payment (Debit)” and include either a voided check or a bank verification letter. Return the documents by fax, (603) 605-1050, or by email to cpicardo@granitestatedev.com before the 15th of the month for the change to take effect on the 1st business day of the following month.

How do I change my mailing address?

Please send the address you would like to change it to, to cbeane@granitestatedev.com and she will be able to update it for you.

Do you have an online portal I can access my monthly statements on?

Unfortunately, we do not currently have an online portal, and we are unable to send monthly statements automatically. We recommend following the Amortization Schedule, located toward the back of your funding documents (also enclosed here for convenience). This schedule provides a complete breakdown of your monthly balances, interest, and fees over the life of the loan. If at any point you would like a current statement to verify the numbers are correct, please contact cbeane@granitestatedev.com.

How do I see what my current balance is?

Please refer to your Amortization Schedule, which can be found in the funding documents sent at the time of funding. The schedule will provide the current balance, interest and ongoing fees for each month for the life of the loan (monthly statements or online access are unavailable at this time). If you would like a current statement, please contact cbeane@granitestatedev.com.

I did not receive an annual statement; how do I access it?

We do not currently have a system in place to send out annual statements automatically and operate by request only.
Please note that current-year annual statements are not available until the beginning of February of the following year. If you would like to be placed on the waitlist to receive your annual statement once it becomes available, please contact cbeane@granitestatedev.com.

I missed a payment, what do I do now?

If you miss a payment, please don’t worry. Simply contact jstonge@granitestatedev.com, and she will provide you with the next steps to bring your account current.
Please note that if payment is not received by the 15th of the month, a late fee will be assessed. Additionally, if payment is not wired by the end of the month, interest will begin to accrue.

What are the fees being shown in the amortization schedule?

The SBA, CDC and CSA Fees are monthly fees that are charged to service the loan.

• SBA – SBA fee
• CDC – Granite State’s fee
• CSA – Wells Fargo’s fee

These are all outlined on Page 5, Section 8 of your Servicing Agent Agreement, located in the funding documents sent at the time of funding.

What if I want to pay off my loan?

Please contact Cierra Beane at cbeane@granitestatedev.com or 603.436.0009 x118 to request a payoff and the required authorization form. This form must be completed before a payoff can be scheduled and a payoff estimate provided. Once the signed form is received, the next steps in the payoff process will be shared with the designated point of contact.

Please note that the Small Business Administration only accepts wired payoffs on a monthly basis. Payoffs can ONLY be submitted as early as the 6th business day of the month (once the official payoff is available—please contact our office for details) and must be received no later than 5:00 p.m. on the 3rd Thursday of the scheduled payoff month.

Keep in mind that payoff calculations include all monthly payments up to and including the payment due on the next available semi-annual date for the loan. These semi-annual dates are listed on the enclosed Debenture Prepayment Premium Schedule (see “Funding documents” sent at the time of funding).

Why am I being asked to submit my tax return?

This is a requirement of the Small Business Administration (SBA) to make sure the operating company can sustain the loan. You will receive a monthly notification starting on April 30th and will continue to do so until either the tax return or the tax extension form is received.

How do I submit my federal tax return?

Please go to our SECURE FILE UPLOAD and where a recipient is asked for choose Servicing & Financial Submission. You can then upload your document and submit securely.

Why do I need to provide my insurance every year?

Insurance is a part of the SBA loan authorization at the time of funding, which means we are required to maintain proof of coverage throughout the life of the loan. As these policies expire each year you will receive a notification of which insurance we will need an updated copy of. If you have any questions regarding insurance, please contact Mariah Dorr at mdorr@granitestatedev.com.

How do I submit my proof of insurance?

Please go to our SECURE FILE UPLOAD and where a recipient is asked for choose Insurance Submission. You can then upload your document and submit securely.