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04-03-2020, 01:26 PM #1
- 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, 01:42 PM #2
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?
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04-03-2020, 01:51 PM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,946
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
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04-03-2020, 01:55 PM #4
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."
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