[WestCoastFunding]

Good platform, small window for low hanging fruit. Believe there will be shake out with banks on the platform.

Yeah, they’re limited. Anyone that knows how to work with financials can do much better than them using other platforms, Marketplaces. Plus their fees are easily beat.

[BB_Cooper]

Yeah, they’re limited. Anyone that knows how to work with financials can do much better than them using other platforms, Marketplaces. Plus their fees are easily beat.

Agreed. But the CARE Act provides that provide that a big proportion of these 7(a) loans will be forgiven, as long as the proceeds are used on payroll and other qualified expenditures. In practice, its more akin to a free money than a loan product-

[splurge37]

Yeah, they’re limited. Anyone that knows how to work with financials can do much better than them using other platforms, Marketplaces. Plus their fees are easily beat.

That is not accurate.

SmartBiz altered its fee structure a few weeks ago, and most borrowers pay less than 1% origination fee.

[mrmrg]

That is not accurate.

SmartBiz altered its fee structure a few weeks ago, and most borrowers pay less than 1% origination fee.

West Coast is right, there is no benefit to go through SmartBiz unless you don't know what you're doing.

[splurge37]

West Coast is right, there is no benefit to go through SmartBiz unless you don't know what you're doing.

Also inaccurate. I've been in SBA finance since 2008 and the nuances of SBA are still a daily challenge for me. SmartBiz has 10 banks on the platform, and as you all know with the MCA business...no 2 banks underwrite the same. You have the benefit of 10 lenders with the same process/documentation.