[Winning]

Based on what I have personally experienced with PayPal vs other lending institutions, I feel as if PayPal should get involved with this. I think they have the know how to make the process efficient and as painless as it can be.. As a merchant,I have never dealt with a better lending company. They were the cheapest, fastest, and have provided excellent support. I would think they could do the same with the PPP system.

[Kevin Henry-Seacoast]

Based on what I have personally experienced with PayPal vs other lending institutions, I feel as if PayPal should get involved with this. I think they have the know how to make the process efficient and as painless as it can be.. As a merchant,I have never dealt with a better lending company. They were the cheapest, fastest, and have provided excellent support. I would think they could do the same with the PPP system.

They are not set up for it an neither are a lot of fintech companies. First and foremost, you need depository capabilities which most fintech companies do not have. They would have to partner with a bank that does.....

[Winning]

They are not set up for it an neither are a lot of fintech companies. First and foremost, you need depository capabilities which most fintech companies do not have. They would have to partner with a bank that does.....

Is it possible for any of that to change?

A month ago there was no unemployment insurance for 1099'ers, now there is. IJS...

[WestCoastFunding]

Based on what I have personally experienced with PayPal vs other lending institutions, I feel as if PayPal should get involved with this. I think they have the know how to make the process efficient and as painless as it can be.. As a merchant,I have never dealt with a better lending company. They were the cheapest, fastest, and have provided excellent support. I would think they could do the same with the PPP system.

PayPal will absolutely end up doing these.

[Kevin Henry-Seacoast]

PayPal will absolutely end up doing these.

They need to establish a depository capability and it's not that easy. Since funds are "backed" by the Feds, they will also need to make sure compliance is super tight. Hence the reason it is easier for the banks to do this or act as agent.

Some fintechs might have a great front end to help process, but getting someone to partner with right now is close to impossible.

And let's not forget..... the juice is not worth the squeeze.

[Winning]

They need to establish a depository capability and it's not that easy. Since funds are "backed" by the Feds, they will also need to make sure compliance is super tight. Hence the reason it is easier for the banks to do this or act as agent.

Some fintechs might have a great front end to help process, but getting someone to partner with right now is close to impossible.

And let's not forget..... the juice is not worth the squeeze.

Again... I ask why?

I don't understand a lot of the behind the scenes inter working of how this usually works.. But maybe the way it usually works is broken.

Perhaps things are about to change..

Similar to way 9/11 created the patriot act and all types of things changed.

[Kevin Henry-Seacoast]

Again... I ask why?

I don't understand a lot of the behind the scenes inter working of how this usually works.. But maybe the way it usually works is broken.

Perhaps things are about to change..

Similar to way 9/11 created the patriot act and all types of things changed.

These are essentially emergency loans that are "backed" by the FEDS and sponsored by the FEDS. That being said, they will want to insure the funds are being used for purposes intended. Having the ability to agent, principal, service the loan is one thing. You will have to have the ability to track where the funds went. Having depository capability that can track where funds are going is a must. I would not b surprised if some banks require a separate bank account be sent up just to track funds from the programs to insure funds are being used as intended.

There more to this than just deploying or acting as agent for the loans.

[Winning]

You will have to have the ability to track where the funds went. Having depository capability that can track where funds are going is a must. I would not b surprised if some banks require a separate bank account be sent up just to track funds from the programs to insure funds are being used as intended.

There more to this than just deploying or acting as agent for the loans.

Do you have a paypal account?

PayPal already have all these capabilities.. They pretty much function as a bank but they are not legally a "Bank". In my eyes, they are better than a "Bank".

For example. The PayPal charge back procedure is way better than the banks. If I suspect a fraudulent purchase or if a client is looking to get over. I would much rather have the transaction go through paypal because they have a fairer dispute resolution procedure.

[Kevin Henry-Seacoast]

Do you have a paypal account?

PayPal already have all these capabilities.. They pretty much function as a bank but they are not legally a "Bank". In my eyes, they are better than a "Bank".

For example. The PayPal charge back procedure is way better than the banks. If I suspect a fraudulent purchase or if a client is looking to get over. I would much rather have the transaction go through paypal because they have a fairer dispute resolution procedure.

Regardless....there is little to no money for anyone to make here. The juice is not worth the squeeze.

[Winning]

They need to establish a depository capability and it's not that easy. Since funds are "backed" by the Feds, they will also need to make sure compliance is super tight. Hence the reason it is easier for the banks to do this or act as agent.

Some fintechs might have a great front end to help process, but getting someone to partner with right now is close to impossible.

And let's not forget..... the juice is not worth the squeeze.

I knew it that this would be a perfect fit for PayPal! Laws and regulations were made by people and can be changed by people. Short term "the juice is not worth the squeeze". But long term, these Fintech companies are about to Checkmate the Banks.

Damn, this coronavirus is really changing the landscape! This is crazy exciting times we living in and witnessing.... Madonaa called it when she said "Coronavirus is the great equaliser"..

PayPal, Intuit QuickBooks approved to hand out emergency funds to small businesses in coronavirus program

https://www.cnbc.com/2020/04/11/payp...ness-loan.html

After weeks of lobbying, fintech companies are officially allowed to take part in the*U.S.government’s emergency lending program.*

Financial Innovation Now*— an industry group representing Square, PayPal, Intuit, Stripe and other non-bank finance companies — sent a letter to Congress in March asking that their members be included in any emergency funding.

“Small businesses are not well served by traditional financial institutions, nor will existing federal small business loan programs deliver funds soon enough,” the letter reads. “Any federal small business loan program must leverage digital advances in the marketplace to ensure that stimulus can reach those business most in need.”

PayPal said it has provided access to more than 900,000 loans and cash advances, and access to more than $15 billion in funding to more than 305,000 small businesses.*

https://www.cnbc.com/2020/04/11/payp...ness-loan.html

On another note...
I can't wait to day trade the stock market on Monday! I feel really good about this! If you are on shelter in place and have time on your hands please look into doing some daytrading.. My gains have be crazy over the last 2 weeks!. Td ameritrade is free to setup an account, and free to trade, but you will be subject to FINRA PDT rules .. If you want to leverage your money up to 6 times and not be govered by the Finra PDT rules you have to setup an offshore account, but that is really simple and not as scary as it sounds.

[budlightboy]

LOL the same guy asking how to default if things get "bad enough" has offshore bank accounts and is levering up on day trades.

[Winning]

LOL the same guy asking how to default if things get "bad enough" has offshore bank accounts and is levering up on day trades.

What does my personal hobby day trading have to do with my business entity and my job?

You seriously need to level up.

Winners Win point blank period.

Life gives you lemons, you make lemmonade.

There are tons of positive ways you can look at how I approach what all is going on. But you choose to look at it in a negative light.

BTW, I did not say I had off shore accounts. I did not say who I use. I only provided information.

If you have over $25k in an american brokerage like TD Ameritrade. You are not governed by the FINRA PDT rules, and really no reason to deal with an overseas brokerage. I am not saying what I have, cause that does not matter.. I am only giving info that could potentially help someone else.

[Winning]

PayPal will absolutely end up doing these.

"Who are you?" "I'm BATMAN!"

Hmmmmm.....

When I 1st mentioned PayPal being a perfect fit to do this you immediately co-signed and stated they will be doing this, like you knew the future....

Perhaps you are privi to some inside info, or you know the future.. Either way, I will be paying even more attention to your commentary.