Results 226 to 232 of 232
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04-14-2020, 04:03 PM #226
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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04-14-2020, 04:43 PM #227
- Join Date
- Aug 2016
- Posts
- 486
Question, was your experience with Wells Fargo bad enough for you to actually decide to move your funds into the small regional bank? That is the million dollar question. Will people that discover that the way they have been doing things may not be the best way, and if so will they find it worth the effort to go a diffrent route. Will this make the customer uncomfortable enough to actually do something about it?
This situation is really shaking the bag so to speak.. It will be interesting to see how the dust settles.
Just like with your personal experience you just posted about.. This situation cracked the door open for the small regional bank you posted about. Now it is up to that Small Regional Bank to really put on a dog & pony show for you. They have try to kick the door you cracked open, wide open and some sort of way land you as a customer. There marketing and remarketing will need to be on point and firing on all cylinders to make the most of all the people just like you that is cracking the door open for them. The hard thing is that people are mostly lazy and forget things quickly.. So the marketing and retargeting get's very expensive.. Having to constantly keep reminding people that "hey your big bank wasn't there for you, we were, don't treat us like the ugly step child, look at all we have to offer you, come over here!!!" requires a good well funded marketing system.. The big FinTech companies have the money and systems to go after all the people that will be cracking that door open.. Perhaps the small regional banks don't.
The same logic can be applied to the new FinTech / Fed Relationship. Due to the situation, the Fed cracked the door open for the FinTech companies... Now the Fintech companies need to put on the best Dog & Pony Show ever for the Fed in hopes they will see the goodness in FinTech's, and susequently open the doors wide open for FinTech's.
The "Is capitalism moral?" rabbit hole...
Best stock week since 1938 at the same time 16 Million of us lost our jobs in 3 weeks.
They say an image is worth a thousand words.
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04-14-2020, 05:17 PM #228
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,976
PPP for self-employed people was launched on April 10, 2020 which was only last Friday - April 10, 2020
I would verify they applied for the correct SBA Laon program, a bit hard to grasp that the SBA has even
reviewed your application that quick.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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04-14-2020, 05:20 PM #229
- Join Date
- Oct 2016
- Posts
- 4,318
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04-15-2020, 01:05 PM #230
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
I put my contact info in here, and
was bombarded with spam from funders
if you need to reach me PM me
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04-20-2020, 12:07 PM #231
Not sure how you can misunderstand but which part was bad info? i clearly was referring to the personal stimulus and direct deposit, thats why i said people who didnt have that setup could soon upload their account info on website. The point was, and as much as i dont like this administration, things are moving and although not fast enough its very difficult to do programs this size quickly. Most checks that need to be mailed wont take months to go out, id say by beg of May.
Again, you said people would be lucky to get ppp money by June, but you move the goal post by saying most funds not disbursed.. Banks have 10 days to payout funds once sba have approval number. Im sure you know that by now.
Like Inacio said, several of you are so negative thats it not worth the energy to come on here. You have been wrong about a number of things from the getgo but stick to your narrative of your initial outlook.
Tell us, how much would a bank have to be paid in fees and int rates for it to 'be worth the squeeze'?
I never said its going to make them a margin that they are used to making, as they Should Not in this case, since its all getting paid back to them, at least thats the intent of the bill but with some things that had to be fixed.
Another 310 billion coming going through the 5,000 approved lenders.
You and westcoast can battle all day long, I would think you have more pressing things to do.
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04-23-2020, 12:47 PM #232
- Join Date
- Aug 2016
- Posts
- 486
So the big companies that are publically traded are getting a mulligan (as long as they take it within 2 weeks)....
This is crazy! I didn't have any faith that this was going to pan out right in the 1st place....
https://www.cnbc.com/2020/04/23/us-i...get-funds.html
US issues new guidance for small business loans, pressures public companies to return funds
Companies applying for coronavirus relief funds must certify that the loans are necessary and that they cannot tap other sources of funding, the SBA said. By definition, public companies have access to the capital markets. For instance, Shake Shack returned the $10 million it got through the PPP after it sold $150 million in new shares.
In a key detail, the SBA indicated that large public companies who tapped the PPP before the rule change can avoid scrutiny by returning the relief loans in two weeks.
https://www.cnbc.com/2020/04/23/us-i...get-funds.htmlLast edited by Winning; 04-23-2020 at 12:56 PM.
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