SBA releases Paycheck Protection details-
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  1. #1
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    Quote Originally Posted by cmarks View Post
    1% is for agent out of the 5%

    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.
    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

  2. #2
    Banned Reputation points: 7556 cmarks's Avatar
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    Quote Originally Posted by Yankeeman07 View Post
    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.
    and?? what do you think that means?

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