[Yankeeman07]

Treasury seems to be in conflict with SBA

How will agents be compensated? Agent fees will be paid out of lender fees. The lender will pay the agent. Agents may not collect any fees from the applicant.

**Take note of when the lender is paid their fee

SBA - Refer to Form 159D -

Bottom line I do not see any money for brokers/agents

[cmarks]

Treasury seems to be in conflict with SBA

How will agents be compensated? Agent fees will be paid out of lender fees. The lender will pay the agent. Agents may not collect any fees from the applicant.

**Take note of when the lender is paid their fee

SBA - Refer to Form 159D -

Bottom line I do not see any money for brokers/agents

1% is for agent out of the 5%

[Steven_O]

1% is for agent out of the 5%

Out of our WHOLE group here on DF... who has an agreement in place to get paid 1%?

Anyone want to clarify? I can assume if no one does - then no one is getting that 1%.

Bank contacts of mine have told me that they are not paying ANYONE out.

[Kevin Henry-Seacoast]

Out of our WHOLE group here on DF... who has an agreement in place to get paid 1%?

Anyone want to clarify? I can assume if no one does - then no one is getting that 1%.

Bank contacts of mine have told me that they are not paying ANYONE out.

Most are not. They are working directly with their clients.

[WestCoastFunding]

Out of our WHOLE group here on DF... who has an agreement in place to get paid 1%?

Anyone want to clarify? I can assume if no one does - then no one is getting that 1%.

Bank contacts of mine have told me that they are not paying ANYONE out.

I can tell you that our team has reached-out to literally hundreds of banks, credit unions and ABL lenders since this was first floated around weeks ago (I received a copy of this proposal by lobbyists before it was even made public) and zero have offered a referral fee. And it’s unanimous — all of them absolutely hate having to deal with this program. The info I get is that the only reason they’re servicing existing customers (and existing customers only) is because they don’t want the blowback/negative press. But, ****, there are big institutions that still won’t have anything to do with it. It’s just not economical vs hour of labor/resources.

[Yankeeman07]

1% is for agent out of the 5%

How will lenders be compensated? Processing fees will be based on the balance of the financing outstanding at the time of final disbursement:
 Loans $350,000 and under: 5.00%
 Loans greater than $350,000 to $2 million: 3.00%
 Loans greater than $2 million: 1.00%
Lenders may not collect any fees from the applicant.

[cmarks]

How will lenders be compensated? Processing fees will be based on the balance of the financing outstanding at the time of final disbursement:
 Loans $350,000 and under: 5.00%
 Loans greater than $350,000 to $2 million: 3.00%
 Loans greater than $2 million: 1.00%
Lenders may not collect any fees from the applicant.

and?? what do you think that means?