Results 1 to 13 of 13
Hybrid View
-
04-07-2020, 05:40 PM #1
- Join Date
- Aug 2014
- Posts
- 194
-
04-07-2020, 05:46 PM #2
- Join Date
- Oct 2016
- Posts
- 4,318
My two cents, unless you have a considerable loan with BofA they won’t fund you. I get the feeling they want to help out companies that may be at risk of defaulting on their loans by using this program. I know they say differently in public, but everything I’m hearing says that’s what they’re doing. That does for all lenders.
-
04-07-2020, 05:55 PM #3
- Join Date
- Aug 2014
- Posts
- 194
-
04-07-2020, 06:56 PM #4
- Join Date
- Jun 2015
- Posts
- 3,322
i spoke withe someone at a major bank and they told me they are ignoring all non clients application and if there is more time and money they will get to it when they get to it.However math does not work , they already have more applications than amount of money they can give.so bottom line any non client has a zero chance of something happening unless something changes
-
04-29-2020, 03:20 PM #5
- Join Date
- Feb 2018
- Posts
- 1,349
-
04-29-2020, 03:40 PM #6
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,948
Lawsuits will be a waster of time - Banks are not forced to accept any particular clients, plus, this new round of funding has funding Caps for the big banks.
**Someone can do the research, but, I believe the big banks were capped at $60 billionDave 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
-
04-29-2020, 03:56 PM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
Dave,
Banks are not forced to take non-bank customers because of know you customer and AML. Banks have been very careful about opening accounts for non-bank customers. Some smaller banks have been willing to help non-bank clients within their respective communities. Banks get audited for this on a regular basis......
I was on a conference call with a host of attorneys today. The subject was brought up. The suit will get squashed if the clients were already a customers of the bank.
Best,
KHKevin 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
Similar Threads
-
Business Credit Card Cash Advance for 600 FICO
By EnterpriseBusinessCredit in forum Deal BinReplies: 4Last Post: 03-05-2019, 10:05 AM -
Best Business Credit CArd?
By brokerCompany in forum All Other LendingReplies: 1Last Post: 03-27-2017, 04:56 PM -
Bank of America (First Data)
By Scott Williams in forum Merchant Cash AdvanceReplies: 8Last Post: 11-11-2015, 11:00 AM -
Wells Fargo, Chase, and Bank of America Under Attack
By JayBallentine in forum Merchant Cash AdvanceReplies: 0Last Post: 08-27-2014, 03:10 PM -
who will do splits with bank of America as processor?
By AMERICApital1 in forum Merchant Cash AdvanceReplies: 3Last Post: 06-10-2014, 07:08 PM