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04-13-2020, 04:49 PM #1
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
Here is a good link Mark Cuban shared on LinkedIn - https://www.covidloantracker.com/
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04-13-2020, 08:19 PM #2
- Join Date
- Aug 2014
- Posts
- 194
The $1200 stimulus checks are just now rolling out, some won't see those until August and you think the Govt will deploy the $350B in weeks, not a chance. Anything the Govt touches is a mess, "those who can't, work in the govt" we will all see this now.
Last edited by MCA; 04-13-2020 at 08:22 PM.
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04-14-2020, 01:11 PM #3
checks in the mail yes could take extra time but i already got my $1200 yesterday. Also, those without bank accounts linked to the IRS can update that in the next few days.
Oh and Chase says they Sent 9.3 billion already for PPP
https://www.washingtonpost.com/busin...s-coronavirus/Last edited by cmarks; 04-14-2020 at 01:14 PM.
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04-14-2020, 01:26 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,481
I like the way Chris jumps into the forum with bad information an then runs away...... The $1200 was part of the personal stimulus those who qualify will receive by wire if they are set up with the IRS or check which will take much longer. I am not eligible for the personal stimulus. Chase has processed and sent less than 30% of loans that have applied. When will the other 70% that have applied get their funds. Probably sometime after the next round of stimulus is approved. Good to see some folks have received some funds personally and for some businesses, but this again is throwing a deck chair off the Queen Mary.
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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04-20-2020, 12:07 PM #5
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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04-14-2020, 01:59 PM #6
- Join Date
- Oct 2016
- Posts
- 4,318
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04-14-2020, 02:05 PM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,481
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, 02:12 PM #8
- Join Date
- Oct 2016
- Posts
- 4,318
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04-14-2020, 02:10 PM #9
- Join Date
- Oct 2016
- Posts
- 4,318
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04-13-2020, 10:05 PM #10
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,946
False Claims Act Liability - another issue facing banks.
https://www.manatt.com/Insights/News...rs-ParticipatiDave 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, 07:12 AM #11
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,481
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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04-23-2020, 12:47 PM #12
- 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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