[happyman]

Spoke to 4 high risk funders each of them are already seeing the impact of the coronavirus. Merchants calling saying they have to reduce payments. Truckers cant pick up packages in certain states.

They said they will not be funding until further notice. Crazy times.

[SFC]

Spoke to 4 high risk funders each of them are already seeing the impact of the coronavirus. Merchants calling saying they have to reduce payments. Truckers cant pick up packages in certain states.

They said they will not be funding until further notice. Crazy times.

Names??

[SFC]

Names??

Marcus is the bellwether here. If he goes, it's all shutting down.

[BROKER TIME]

Marcus is the bellwether here. If he goes, it's all shutting down.

forward finance is not funding any new subs

[mcaguru]

Currently Mantis is Funding. I would love this to be an opportunity to board new ISO's -I will rush out agreements.

[SFC]

forward finance is not funding any new subs

They're going to HATE it when they're stuck buying out "worse" funders when this is over.

[mcaguru]

They're going to HATE it when they're stuck buying out "worse" funders when this is over.

This is certainly weird times --- one of my siblings was on a plane this lady sneezed 5 times in a row and the people jumped out of their seats screaming -- one lady started to interrogate her with a cloth over her face about all her whereabouts the last few weeks !!

[BROKER TIME]

this is certainly weird times --- one of my siblings was on a plane this lady sneezed 5 times in a row and the people jumped out of their seats screaming -- one lady started to interrogate her with a cloth over her face about all her whereabouts the last few weeks !!

fake news

[SFC]

fake news

Maybe but its getting weird out there:
https://nationalpost.com/news/world/...ight-attendant
https://fox5sandiego.com/news/unruly...ght-to-divert/

[mcaguru]

fake news

Like Trump says .. I can say its day outside

[mcaguru]

Maybe but its getting weird out there:
https://nationalpost.com/news/world/...ight-attendant
https://fox5sandiego.com/news/unruly...ght-to-divert/

TY! ....If anything i under report lots of stuff

[mikethemcaman]

forward finance is not funding any new subs

We didn't get any indication from Forward that they're not accepting any new subs, I guess our numbers with them are solid....

[WestCoastFunding]

This guidance by the SBA for the supposed $50B allocated in new low interest loans seems to be a bit of a joke. First the governors have to request specific areas within a state be designated a disaster area. That’s understandable, i suppose. But with global GDP crashing, shouldn’t the whole U.S. be designated? It seems like only the businesses in areas with high numbers of COVID-19 cases would qualify.

After that, the businesses have to show that they can’t access financing anywhere else. So that seems to mean they have to apply for conventional financing and be turned-down. That process could take weeks.

This seems way to cumbersome of a process when we are essentially in an economic “sudden stop” right now.

[tonymotts]

On my third one for the day fffffmmmmlllll

[BROKER TIME]

We didn't get any indication from Forward that they're not accepting any new subs, I guess our numbers with them are solid....

dont know but im not the only once receiving the email

[cmarks]

This guidance by the SBA for the supposed $50B allocated in new low interest loans seems to be a bit of a joke. First the governors have to request specific areas within a state be designated a disaster area. That’s understandable, i suppose. But with global GDP crashing, shouldn’t the whole U.S. be designated? It seems like only the businesses in areas with high numbers of COVID-19 cases would qualify.

After that, the businesses have to show that they can’t access financing anywhere else. So that seems to mean they have to apply for conventional financing and be turned-down. That process could take weeks.

This seems way to cumbersome of a process when we are essentially in an economic “sudden stop” right now.

Well also Rubio is proposing increasing the SBA express from $350k to 1 mil, then increasing % of guarantees, up to 90% for 150k-5mil. They also want to reduce docs required, we'll see what passes

[WestCoastFunding]

Well also Rubio is proposing increasing the SBA express from $350k to 1 mil, then increasing % of guarantees, up to 90% for 150k-5mil. They also want to reduce docs required, we'll see what passes

The problem is Mitch McConnell said he isn’t going to move on any of this until after the Senate comes back from recess.

[cmarks]

The problem is Mitch McConnell said he isn’t going to move on any of this until after the Senate comes back from recess.

yea he just cancelled recess

[omegafund]

This guidance by the SBA for the supposed $50B allocated in new low interest loans seems to be a bit of a joke. First the governors have to request specific areas within a state be designated a disaster area. That’s understandable, i suppose. But with global GDP crashing, shouldn’t the whole U.S. be designated? It seems like only the businesses in areas with high numbers of COVID-19 cases would qualify.

After that, the businesses have to show that they can’t access financing anywhere else. So that seems to mean they have to apply for conventional financing and be turned-down. That process could take weeks.

This seems way to cumbersome of a process when we are essentially in an economic “sudden stop” right now.

With potentially 2% rates you essentially have free money worth the wait.

[SFC]

With potentially 2% rates you essentially have free money worth the wait.

Sounds like PayPal... and the we stack!

[MCN]

dont know but im not the only once receiving the email

got the email as well. Got one from LoanMe also an hour ago. Im sure there will be many more to come

[WestCoastFunding]

With potentially 2% rates you essentially have free money worth the wait.

If they survive the wait.

[SFC]

If they survive the wait.

Marcus will fund them all, he's putting America on his back. Just don't ask where he's getting all that money from!

[skideeppow]

Rapid just suspended all restaurant funding

[mcaguru]

Right now we are funding away... --Many old and new ISO's have been knocking on the door to join --- Never too late to get on board! expect fastest offers/few stips/double digit commissions! bizdev@cresthillcapital.com