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04-03-2020, 11:51 AM #1
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04-03-2020, 11:58 AM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
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- 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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04-03-2020, 12:04 PM #3
- Join Date
- Oct 2016
- Posts
- 4,318
It seems that BofA will only process PPPs for existing clients who have both a business banking account AND a loan with BofA:
“Eligible clients who plan to apply for the Paycheck Protection Program loan should be aware of the following important items:
You must have a pre-existing business lending and business deposit relationship with Bank of America, as of February 15, 2020.”
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04-03-2020, 12:09 PM #4
- 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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04-03-2020, 12:15 PM #5
- Join Date
- Aug 2016
- Posts
- 486
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04-03-2020, 12:16 PM #6
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- Oct 2016
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04-03-2020, 12:23 PM #7
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- Aug 2016
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- 486
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04-03-2020, 12:48 PM #8
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04-04-2020, 06:08 PM #9
- Join Date
- Aug 2016
- Posts
- 486
Bank of America Changes Paycheck Protection Program Rules After Criticism.
Bank of America ended up changing its position with Chief Executive Brian Moynihan telling CNBC Friday that applicants no longer needed an existing lending relationship with the bank to access the funds.*
Bank of America says that it has already received 60,000 applications with paycheck protection program loan requests totaling over $6 billion.
Meanwhile the U.S. Small Business Administration said that 5,218 loans valued at more than $1.8 billion had been received.
https://www.thestreet.com/investing/...fter-criticismLast edited by Winning; 04-04-2020 at 06:13 PM.
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04-03-2020, 12:37 PM #10
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04-03-2020, 01:03 PM #11
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- Oct 2016
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- 4,318
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04-03-2020, 01:15 PM #12
- 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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04-03-2020, 02:31 PM #13
- Join Date
- Oct 2016
- Posts
- 4,318
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04-03-2020, 11:59 AM #14
- Join Date
- Apr 2014
- Posts
- 781
Got off the phone with the bank..its a mess. If the loan is forgivable to merchant the bank doesnt get reimbursed unless it goes on the balance sheet.
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04-03-2020, 12:12 PM #15
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