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01-10-2021, 09:49 AM #12
- Join Date
- Feb 2017
- Posts
- 3,429
So it appears that everyone (Bluevine/Kabbage/SmartBiz) are signing up with Crossriver Bank, and then profit-sharing.
Crossriver bank was the #4 originator of total loans in the first round. They upped their game and added a whole Salesforce connectivity.
The question is - how much are they paying?
Because here's what I got from SmartBiz, and I think that this is VERY generous if the banks are only paying 1 point on sub-$350,000 like they did last time:
Fee Payment to Partner per Funded Loan Amount
Loans greater than $2,000,000 = 0.167%
Loans greater than $350,000 and up to $2,000,000 = 0.50%
Loans greater than $50,000 and up to $350,000 = 0.83%
Loans up to $50,000 = 16.7% of Fees Paid to Lender
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