[FlexibleCapitalSolutions]

eFinancial Tree is still funding!

We have not changed when we pay commissions to our partners!

Catherine Michail
catherine@efinancialtree.com
917-297-1119

[fundingsmbs]

Under the PPP’s terms, lenders were to pay agents out of these origination fees, which range from five percent on loans up to $350,000 and three percent on loans between $350,000 and $2 million to one percent on loans between $2 million and $10 million, the suit says.

The lawsuit alleges that although banks were well aware that their customers were utilizing agents’ services in preparing PPP applications, some banks “outright refused to process” loan applications that refer to an agent. Other banks, the suit claims, have referred their customers to online application portals “intentionally designed” to prevent the customer from designating an agent.

so even though emails came out saying companies would not pay but agents sent in PPP apps to said companies, does this resolve them from paying...TBD

[FlexibleCapitalSolutions]

Under the PPP’s terms, lenders were to pay agents out of these origination fees, which range from five percent on loans up to $350,000 and three percent on loans between $350,000 and $2 million to one percent on loans between $2 million and $10 million, the suit says.

The lawsuit alleges that although banks were well aware that their customers were utilizing agents’ services in preparing PPP applications, some banks “outright refused to process” loan applications that refer to an agent. Other banks, the suit claims, have referred their customers to online application portals “intentionally designed” to prevent the customer from designating an agent.

That is messed up, only worried about themselves.

[inacio]

On Deck was only approved last week - and there were zero funds.

Monday April 27, 2020 - @ 10:30 a.m. SBA started accepted applications.
So you are stating that in less than 24 hours you had PPP applications approved & funded thru OnDeck?

That is sure an amazing feat since on their web site they states the following:

If you have not already been approved for a PPP loan, you can apply now through OnDeck, even if you have put in a PPP application elsewhere. Applying for a PPP loan with OnDeck will not impact the status of any prior PPP applications you may have submitted. Please note that additional SBA funds for PPP are not yet available. We will begin submitting applications to the SBA once funding has been approved and released. Applications from existing OnDeck customers may be prioritized over non-customers for submission to the SBA.

This article was posted on DeBanked:
https://debanked.com/2020/04/online-...-be-refreshed/

No i never stated they got funded......Really!!!