Transition of Program Processes and Procedures. The selected Offeror shall collaborate with NDSEO to assess and potentially adjust various aspects of each loan process to ensure that funding is not only distributed to customers and contractors in a timely manner, but also made available to the greatest number of qualifying entities. These aspects include but are not limited to: loan application review procedures, such as standards for approval and underwriting; lending criteria; credit and collateral requirements; loan delinquency, default, and foreclosure procedures; loan repayments; risk management protocol; and loan closing procedures. Loan Origination Process. The selected Offeror must encompass essential loan origination elements such as application intake, proper disclosure to applicants, monthly payment estimates, documentation of finance agreements, verification of project completion, and expedited loan disbursement. The selected Offeror shall integrate policies and procedures into the selected process to safeguard the interest and integrity of each Program, including credit underwriting and verification procedures for contractors and customers. In cases where a customer’s business lacks sufficient credit, securing a personal guarantee from the business owner may be necessary. Loan Servicing and Recordkeeping. The selected Offeror shall establish policies and procedures for the servicing of finances distributed by each Program. These include but are not limited to: managing the loan portfolios for both Programs ensuring compliance with the terms and conditions of each loan agreement,and monitoring the financial health of the customer or business to evaluate the ability of the borrower to continue loan repayment. The selected Offeror shall maintain contact with participating borrowers with respect to all multi-residential and commercial building loan requests. The selected Offeror shall create and maintain loan servicing files for each loan recipient that includes all written and verbal correspondence; list of applicable loan covenants; certificates of insurance, as applicable; and other relevant documentation. The selected Offeror shall establish comprehensive recordkeeping procedures that will be able to capture the following information: all deposits and disbursements to and from each Program, including funds used for Program administration; repayments made by each customer which has received a Program loan; a collection register for each loan made that contains personally identifiable information, loan date, loan amount, terms, and date repayment begins. If the selected Loan Portfolio Oversight and Reporting. The selected Offeror shall provide NDSEO staff with monthly and ad hoc written reports, as needed, to measure program performance and development. These reports shall include, at a minimum: program activities for the month, customer complaints and resolutions, number of loan applications under review, number of loans currently being serviced, and the value of loans serviced. The selected Offeror shall meet with NDSEO staff on a regular basis to review the loan portfolio, answer questions, and advise as to any necessary actions to be taken by NDSEO with respect to any pending loans or outstanding loans. Participating Contractor Engagement and Support. The selected Offeror shall provide ongoing support via phone, email, and other appropriate methods to assist contractors in successfully implementing the Programs, connecting with financing companies, and properly filling out Program forms or providing required data through Program platforms. The selected Offeror shall keep contractors informed of pertinent Program updates, including new lending and financing options, changes in the list of eligible measures that may be financed, and other relevant information. The selected Offeror shall provide timely responses to contractor questions and inquiries. The selected Offeror shall maintain updated reference materials and other resources to complement trainings and assist contractors with project eligibility, documentation requirements, and incorporation of financing into their sales. As deemed appropriate by NDSEO, the selected Offeror shall identify, suggest, and develop needed Program trainings and resources for participating contractors. Participating Contractor Compliance and Verification. To provide reasonable assurance that contractors are adhering to Program rules and requirements, the selected Offeror shall work with NDSEO to establish criteria necessary to maintain participating contractor status and confirm that enrolled contractors meet said criteria through quarterly checks. NDSEO emphasizes that these compliance and verification procedures help ensure that all participating contractors are made aware of the potential of their project being reviewed or inspected. The selected Offeror shall also work with NDSEO to develop contractor corrective discipline and Program removal procedures. Marketing and Outreach. At NDSEO’s discretion, the selected Offeror may prepare marketing materials, including presentations, webinars, and other deliverables, and meet with various groups and organizations to promote the Programs. The selected Offeror may provide direct and, if needed, in-person interaction with prospective customers, as well as all necessary technical assistance to customers in the development of loan applications. Financial Tracking. The selected Offeror shall track all program spending against budgets and projections and report to NDSEO in an agreed upon format and timeframe, in aggregate, with detailed reporting available, as needed. Variations from projections shall be identified as soon as possible so decisions can be made prior to any deviation from budget. Wherein federal agencies or NDSEO require funding breakout by certain categories, such as but not limited to the Build America, Buy America or Davis-Bacon Act, the selected Offeror shall provide financial categories by these breakdowns. Davis-Bacon Requirements. Offeror shall ensure that all borrowers of these loans are required to ensure all laborers and mechanics employed by the contractors or subcontractors in the performance of construction, alteration, or repair work in excess of $2,000 directly by or assisted in whole or in part by funds made available under the award shall be paid wages at rates not less than those prevailing on similar projects in the locality, as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code commonly referred to as the “Davis-Bacon Act” (DBA).
