Results 51 to 75 of 232
-
04-03-2020, 12:09 PM #51
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
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
-
04-03-2020, 12:12 PM #52
-
04-03-2020, 12:15 PM #53
- Join Date
- Aug 2016
- Posts
- 486
-
04-03-2020, 12:16 PM #54
- Join Date
- Oct 2016
- Posts
- 4,318
-
04-03-2020, 12:17 PM #55
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,959
A good stategy as long as you have the 20% to 30% as a down payment.
**A nugget of information that you may keep in mind:
The SBA will also automatically pay the principal, interest,and fees of new 7(a) loans issued prior to September 27, 2020.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
-
04-03-2020, 12:23 PM #56
- Join Date
- Aug 2016
- Posts
- 486
-
04-03-2020, 12:28 PM #57
-
04-03-2020, 12:34 PM #58
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,959
Do a search for SBA Form 159D - Read, Comprehend and make your own decision.
For Agent Services In Connection With an SBA Disaster Assistance LoanDave 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
-
04-03-2020, 12:37 PM #59
-
04-03-2020, 12:41 PM #60
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
-
04-03-2020, 12:48 PM #61
-
04-03-2020, 01:03 PM #62
- Join Date
- Oct 2016
- Posts
- 4,318
-
04-03-2020, 01:14 PM #63
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
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 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
-
04-03-2020, 01:15 PM #64
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
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
-
04-03-2020, 01:16 PM #65
- Join Date
- Oct 2016
- Posts
- 4,318
That’s the thing, trying to get one of these placed with a lender that they don’t have both a banking and lending relationship with is going to be nearly impossible. And brokers who do have the connects have been told we aren’t supposed to charge a packaging and placement fee to do it. Where does that leave the borrower? **** out of luck.
-
04-03-2020, 01:22 PM #66
-
04-03-2020, 01:26 PM #67
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
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
-
04-03-2020, 01:42 PM #68
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?
-
04-03-2020, 01:51 PM #69
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,959
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%."
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
-
04-03-2020, 01:55 PM #70
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."
-
04-03-2020, 02:02 PM #71
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,959
Treasury seems to be in conflict with SBA
How will agents be compensated? Agent fees will be paid out of lender fees. The lender will pay the agent. Agents may not collect any fees from the applicant.
**Take note of when the lender is paid their fee
SBA - Refer to Form 159D -
Bottom line I do not see any money for brokers/agents
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
-
04-03-2020, 02:07 PM #72
-
04-03-2020, 02:11 PM #73
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 474
-
04-03-2020, 02:15 PM #74
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
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
-
04-03-2020, 02:17 PM #75
- Join Date
- Feb 2018
- Posts
- 1,349
a lot of confusion about this. it will be up to each SBA approved lender what their policy will be to accept broker business. they do not have to pay or accept the business. they will make 5% on loans they service (the sba lender). they will have a ton of apps coming in direct to manage so I would not expect a smooth submission process if you do have a lender willing to pay you. $850M already was disbursed by community banks according to a recent article. bottom line, many banks dont need brokers to send them deals. they will have plenty on their own. a few lenders may be willing but don't count on that being the norm.
Similar Threads
-
SBA Paycheck Protect Program
By Yankeeman07 in forum PromotionsReplies: 0Last Post: 03-31-2020, 07:30 PM -
Personal Injury Protection (PIP) Factor
By socalgav in forum Deal BinReplies: 2Last Post: 02-18-2020, 07:26 PM -
The Pleasure of Protection
By blindbid in forum PromotionsReplies: 6Last Post: 10-19-2018, 06:22 PM -
Overdraft Protection? NSFs
By omegafund in forum Deal BinReplies: 2Last Post: 01-16-2018, 12:27 PM -
Benchmark Releases Newly Developed Go ACH Platform for the MCA Industry
By Benchmark in forum Merchant Cash AdvanceReplies: 0Last Post: 03-10-2016, 12:36 PM