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04-28-2021, 01:21 PM #1
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,976
Dave 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
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04-29-2021, 11:17 AM #2
- Join Date
- Oct 2020
- Posts
- 4
Up until recently they had been emailing Loans up to $50,000 = "16.7% of Fees Paid to Lender" Which lenders are paid $2,500 or 50% of the principal whichever is the lesser. So it should equate to about $417 for PPP from 5k-50k. Which is a huge difference.
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04-29-2021, 12:38 PM #3
- Join Date
- Feb 2017
- Posts
- 3,450
The lender is paid 5%, but the brokers are paid 1% (or less, with the $350,000 limits). It could be that their marketing emails were a mistake? I obviously understood that they meant a percentage paid to the broker since they're co-brokering with you. Which is exactly why I put my PPP loans through another channel.
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