What is a SMART Loan?
A SMART Loan is a debt consolidation loan that allows your clients to use the equity they have built in their home to reduce their monthly debt payments and free up cash.
To help your client understand what a SMART Loan is and how it can help them, share with them the following resources:
If you’ve determined your client is a good referral candidate.
Start by understanding your client’s financial situation.
Together, complete the Financial Needs Analysis Report (FNA) to establish a realistic financial game plan.
Direct your client to the SMART Loan website.
- Review the loan requirements; will they qualify?
- Use the debt consolidation calculator to see potential loan solutions.
Next, make sure their home is in one of B2B Bank’s lending areas.
Check to make sure your client's property type and location meet the program guidelines.
Properties must be residential homes in good marketable condition. Homes undergoing renovation or with deferred maintenance are not eligible.
SMART Loan acceptable property types
- Single family homes with a maximum of 2 units
- Freehold and condominium/strata townhomes
- Low-rise and high-rise condo/strata properties
B2B Bank will not lend on the following types of properties:
- Mobile Homes
- Log Homes
- Historical or Heritage Homes
- Converted Properties
- Boarding Houses/Rooming Houses
- Leased Land
- Fractional Interests
- Rental Pools
- Condo Hotels
- Co-operative Housing
- Commercial/Industrial Properties
- Agricultural Properties
Lending locations as at June 10, 2014. Terms and conditions are subject to change without notice. The SMART Loan is available by referral to Primerica clients. Primerica does not deal in mortgages. Primerica Representatives make simple referrals to B2B Bank for mortgage loans. SMART Loans are subject to clients meeting B2B Bank lending criteria. SMART Loans are offered by B2B Bank. B2B Bank acts solely as lender in the SMART Loan program and does not provide investment advice to individuals or advisors.
®B2B BANK is a registered trademark of B2B Bank. ®SMART Loan is a registered trademark of Primerica Life Insurance Company of Canada and used under license.
Questions? Some resources to help:
- Sample Referral Card
- SMART Loan Referral Card and Application Checklist
- Referral and Web Application Process Tip Sheet
- FNA Quick Reference Card
Remember, for your client this is just the beginning of the application process.
Your client needs to complete and submit an application at the SMART Loan Client Website.
The SMART Loan Application Process
The SMART Loan process, when all forms and documents are completed correctly and the applicant qualifies, can take as little as 30 – 45 days.
We have a dedicated team at B2B Bank to work with your clients every step of the way.
Once your client has submitted a SMART Loan, you can keep track of the status on the Primerica Online website.
For each Referral, you can see:
- Primerica Rep Solution Number
- Referral Card Number
- The current status of this Referral
- The date that this Referral went into this status
Watch our step-by-step client video on the SMART Loan Application Process.
If you have any questions on SMART Loan Referrals, contact your B2B Bank Lending Specialist or call Client Services at 1‑800‑263‑8349
‘It’s a small thing, but it’s the client Thank You notes we get that make me passionate about the SMART loan program.’
As a Lending Specialist, it’s the sense of achievement I get when a client tells me ‘I can now live comfortably and have more breathing room’
About B2B Bank
We believe in the power of independent financial advice and the benefits of working with a representative. That's why we've based our business model on supporting the needs of financial professionals and one of the reasons why you may not know our name. We are 'behind-the-scenes' intentionally because we encourage and respect the representative-client relationship.
Headquartered in Toronto with regional representation from coast to coast, B2B Bank is a Schedule I Canadian bank that serves a network of some 27,000 financial professionals, including financial advisors and representatives, mortgage brokers and insurance manufacturers.
Over the years and through all the changes, B2B Bank has always remained fiercely dedicated to helping financial professionals fulfill their clients' financial needs through a suite of high quality, integrated financial services and solutions.
Making the most of the B2B Bank – Primerica relationship
Yes, we're a bank. But we've kept our independent, client-focused spirit as we've grown. That's why Primerica—the largest independent financial services marketing organization in North America—works with us in offering the SMART Loan referral program.
You trust Primerica; Primerica trusts us. Adding in all the benefits that a SMART Loan can offer means that you'll make the most out of a tried and true program that's dedicated to helping Canadian families looking to reduce or simplify their debts.
Lending Specialist Unit
|Diana Scioli||Beverly Lipp||Halim Dulluku|
|English, Italian||English||English, French,|
|Manager, Lending||Lending Specialist||Albanian|
|Sales and Service||Lending Specialist|
|Stephane Kouame||Youssef Bechara|
|English, French||English, French|
|Lending Specialist||Lending Specialist|
"It's a small thing, but it's the client Thank You notes we get that make me passionate about the SMART Loan program."
"As a Lending Specialist, it's the sense of achievement I get when a client tells me 'I can now live comfortably and have more breathing room'"