Quote Originally Posted by HDF View Post
No change for those who don't qualify for Disaster Loans. Other than, of course, historically low rates. But using the news helps anyway. The pitch is from the top down, not the "last three months statements" approach. Help prospective clients present their plan with the application as warranted.

Online and Local/Regional offices and pop-up SBA centers have normally handled Disaster applicants. Qualifying is not as easy as one might think. Good news is that property (loss) inspections would not apply, but collateral (hard or pledged) will likely still be required.

Sweet spot: Those rate averse leads/apps in the pipeline who wanted 6-8%APR. That is just about doable now.
You are absolutely right. We’ve been taking that approach since last week. We’ve promised to help with the disaster loan program at no charge, but the process is cumbersome and time-consuming. These companies aren’t going to have a month to wait around for funds, so we will offer “bridges”.