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04-07-2020, 01:19 PM #10
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,472
They need to establish a depository capability and it's not that easy. Since funds are "backed" by the Feds, they will also need to make sure compliance is super tight. Hence the reason it is easier for the banks to do this or act as agent.
Some fintechs might have a great front end to help process, but getting someone to partner with right now is close to impossible.
And let's not forget..... the juice is not worth the squeeze.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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