Results 1 to 15 of 15
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10-09-2021, 06:25 PM #1
- Join Date
- Sep 2021
- Location
- New York City
- Posts
- 25
I need funders who assist with EIDL Loan
Hi I have a couple of merchants who need an EIDL, Can I get a list with your contact details and ISO agreements.
Channon Smith
CEO
First Capital Wealth INC
646-460-6850
firstcapitalwealthinc@gmail.com
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10-09-2021, 08:00 PM #2
I can do them as a SBA processing company. I get paid by the borrower when funded which is allowed by the SBA but reduce the fee depending on the loan amount...if under $10,000... I have done HUNDREDS of these and have dealt with all the denials. Probably funded several million through this program. Can also do second round too but charge less as it's a portal issue and guideline issue. I am also a SBA 7A expert and use the largest non bank SBA lender in the United States working directly with the Managing Director. (7A is a lender program) This EIDL is a SBA direct program. No ISO agreement and no lender involved. I can pay referral fees when funded. I have a complete email package and I review all the docs with the borrower and upload them. Nobody gets the information correct on the Form 5 and they also have trouble with the P-019 form too. I have to see the tax return to get the right NAICS code and to review the COGS. I'll email you a package.
Last edited by Olderguy; 10-09-2021 at 08:10 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-12-2021, 07:54 PM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
EIDL Intake Form (Application) - Merchants that have not applied previously:
https://covid19relief.sba.gov/#/Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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10-12-2021, 08:00 PM #4Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-12-2021, 08:22 PM #5
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
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10-12-2021, 10:04 PM #6Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-13-2021, 09:48 AM #7
- Join Date
- Feb 2019
- Posts
- 209
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10-13-2021, 11:13 AM #8
- Join Date
- Mar 2021
- Posts
- 187
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10-13-2021, 11:57 AM #9
- Join Date
- Feb 2017
- Posts
- 3,463
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10-13-2021, 12:37 PM #10
You submit for additional funding...contact me and I'll show you how. Trick is how much to ask for....it is a sliding scale bar. I've been successful doubling the original loan amount. Client will get new loan docs with both loans combined into one new loan.
Next Steps for Loan Increase Request for COVID-19 EIDL Program
Dear SBA Borrower:
We received your request to increase your COVID-19 Economic Injury Disaster Loan (EIDL). To continue processing your request, please complete the following steps:
Log into your SBA loan portal account at: https://covid19relief1.sba.gov/
After you log into your account, click on the button that reads “Request More Funds”
The “Request More Funds” button will only be visible if your current loan amount is not already at the maximum loan limit
Next, you will be asked to disclose if any changes have occurred since the original EIDL application was submitted, such as any owners of 20% or more of the applicant business being currently involved in a bankruptcy
You also will be asked which form was used for the applicant business’s most recent tax return, such as Form 1040 (Schedule C, E or F), 1065 (Partnership), 1120S (S Corporation), or 1120 (C Corporation)
Next, you will use the slider bar to select a new increased loan amount
You may be required to electronically sign an IRS Form 4506-T allowing the SBA to obtain tax transcripts directly from the IRS
Once these steps are completed, you can submit the loan increase for processing
Note: If you are unable to log into your SBA loan portal, please use the Forgot Password feature. If you continue to experience issues logging into your portal account, please contact our customer service team at DisasterCustomerService@sba.gov.
We will continue to process increase requests in the order they are received. Due to the high volume of incoming requests, it may be several weeks before you receive a response from SBA on the final steps. If you have any questions regarding the COVID-19 EIDL program, or SBA's other COVID relief programs, please visit our website at SBA.gov/relief for the most current updates.Last edited by Olderguy; 10-13-2021 at 12:44 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-13-2021, 01:55 PM #11
- Join Date
- Feb 2019
- Posts
- 209
The additional 1.5mm is looking like they might require more underwriting for it. The main take away that I got from the last conference call is their current definition of economic disaster or better what is NOT economic disaster. They are considering that if you have revenue higher in 2020 then you did not suffer economic disaster. This is too simple of a way of looking at it & unfair for small businesses.
For all 1.5mm increases, they required way more stips. For example, they are requiring a YTD schedule of liabilities but do not ask for YTD financials.
I have a couple of clients that have their request lowered by SBA (2mm to 1.2mm) due to affordability but they are not providing any guidance on what they want for debt service.
This program also ends EOY so unless congress extends the goal post, then everything will need to be wrapped up by then which seems very unrealistic.
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10-13-2021, 03:07 PM #12
Requesting too much of an increase. I'd double the original amount and justify the revenue decline. Yes more stips may been needed.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-14-2021, 06:00 PM #13Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-15-2021, 08:47 AM #14
- Join Date
- Jun 2017
- Posts
- 2,049
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10-15-2021, 08:56 AM #15Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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