[Kevin Henry-Seacoast]

They just don’t want these. It’s not worth it for them. Theyll essentually process them as a courtesy, but once you factor in manpower and other resources used, they probably don’t make a single dime or even lose money.

Banks are providing the service to the customers as a service to the customers period. Hopefully these programs help their clients. There is no intention from most banks to try and profit from this as you really cannot. If you only knew the amount of work our bankers and underwriters are doing in efforts to service clients.....it's mind blowing.

[cmarks]

Banks are providing the service to the customers as a service to the customers period. Hopefully these programs help their clients. There is no intention from most banks to try and profit from this as you really cannot. If you only knew the amount of work our bankers and underwriters are doing in efforts to service clients.....it's mind blowing.

Kevin, for the PPP, describe in detail the amount of work to approve and fund one? How can you calculate that if you dont even list whats required to approve and fund?

[Kevin Henry-Seacoast]

Kevin, for the PPP, describe in detail the amount of work to approve and fund one? How can you calculate that if you dont even list whats required to approve and fund?

Chris,

We are a division of a bank based here in Florida. Why in the world would I describe in detail what we are doing to help customers through the process on an open forum?

Best,

Kevin

[cmarks]

Chris,

We are a division of a bank based here in Florida. Why in the world would I describe in detail what we are doing to help customers through the process on an open forum?

Best,

Kevin

theres nothing secret about saying you have to review the ownership on SOS or TR, prove payroll by reviewing tax returns and other banking docs, etc... then saying all in all in takes 8 hours or whatever to approve a 300k PPP loan for the 5% fee you will get..meaning that 8 hours resulted in $15k,,,is that worth it to banks?

[Yankeeman07]

Chris - where in the heck are you getting this 5% Fee?

Do yourself a favor and go to the SBA Web Site and read & comprehend the information provided.

PPP - "

This loan has a maturity of 2 years and an interest rate of 1%."

[cmarks]

Chris - where in the heck are you getting this 5% Fee?

Do yourself a favor and go to the SBA Web Site and read & comprehend the information provided.

PPP - "

This loan has a maturity of 2 years and an interest rate of 1%."

maybe if you can read, what you are talking about is payable to the agent from the Lenders, the LENDERS/BANKS get paid by the Govt 5% up to 350k

"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."