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04-01-2020, 08:10 PM #1
- Join Date
- Sep 2014
- Posts
- 263
Sba lenders opting out of ppp
I have been told by 4 of the SBA lenders I work with that they are opting out of the PPP programs. They are only working with existing customers. This includes Newtek and 3 large banks. The reason for them opting out is they are saying it cost to much to process and service the loans that are only paying half a percent interest for 2 years.
Anyone talking to other banks who want the business???
Mike
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