Need a Funder or Vendor? START HERE

Results 1 to 12 of 12
  1. #1

    ERC - Employee Retention Credit

    Who are you guys using for your ERC files? I know some MCA lenders have gotten into this but I'm not sure how successful they have been. Are you guys using direct ERC companies or MCA companies? I know TVT is doing ERC, who else is doing it and who are you all using?
    Best Regards,

    Louis DiMaria - South Shore Funding CEO
    Office: 516.431.3100 ext. 126
    Fax: 516.454.1014
    Cell: 516.454.1001


  2. #2
    Senior Member Reputation points: 23085
    Join Date
    Nov 2013
    Posts
    598

    Quote Originally Posted by LDPSU126 View Post
    Who are you guys using for your ERC files? I know some MCA lenders have gotten into this but I'm not sure how successful they have been. Are you guys using direct ERC companies or MCA companies? I know TVT is doing ERC, who else is doing it and who are you all using?
    Heard a few big ISO doing it, how successful is relative to who you ask and if you believe them lol.

    That being said, when I see / hear social media / tv / radio ads I know there is big money behind it, so that tells me that theres a big enough market for it. What I do know is its a govt program, and if you had any experience with PPP you know the sh$t show that was.

    Not saying it cant be a profitable vertical but dont expect quick money behind it and dealing with payroll taxes is a lot of paperwork so you'll need a good CPA to help audit and file them so it wont bit you in the ass later from the bs PPP type scammers.

  3. #3
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,086

    TVT is doing loans against them, not submitting them. Here's TVT guidelines and so is Lender's Loan Capital

    TVT - ERTC Bridge overview

    Up to 60% LTV on submitted ERTC claims
    22-35% 12 month deals
    interest only - sometimes for full term sometimes for half the term - depends on the credit
    At Submission:
    • 3 months business bank statements (main operating account)
    • Merchant application
    • Most recent tax returns & 2022 YTD P&L
    • Form 941
    • Form 941-X
    • Employee ERC calculation breakdown per quarter associated with the corresponding filed 941-X form
    • Proof of eligibility (eligibility criteria)
    - government mandated shutdown
    - Loss in revenue in accordance with ERC qualification (please have CPA sign and owner)

    *If you can not provide the ERC calculation break down the client can only be approved for tiered amortized weekly payment structure*
    (Require driver id of owners over 20% as well)
    Fees:
    4 % origination
    Commission 4% - 5%

    Lenders Loan Capital for ERTC.
    3 - 4 weeks closing
    15% retained by the firm
    and broker can upsell anything past that.
    If brokers sells 70% that's 15% to the broker
    Steve Benjamin
    Professional Business Loans

    1012 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.

  4. #4
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,086

    Couldn't edit so added here:

    TVT can fund within 2-3 business days
    They can add other products on top of the ERTC bridge (equipment financing, additional MCA etc)
    Offers are both lockboxing the credit and not - both options available
    They can go up to $10M per deal

    Lenders Loan Capital....haven't used them just heard about their terms from a broker...do your due diligence.
    Last edited by Olderguy; 01-03-2023 at 04:16 PM.
    Steve Benjamin
    Professional Business Loans

    1012 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.

  5. #5
    Member Reputation points: 10
    Join Date
    Sep 2022
    Location
    Lakewood, NJ
    Posts
    51

    eprodigy or sutton funding
    Josh Dan
    B2B Funding LLC
    josh@b2bfundingllc.com
    Super Broker
    (347) 794-1592

  6. #6
    Senior Member Reputation points: 50566 ADiamond's Avatar
    Join Date
    Apr 2014
    Location
    New York City
    Posts
    890

    anthony@tvtcapital.com for your ERTC-loan needs
    Anthony Diamond
    Underwriter

  7. #7
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,086

    Quote Originally Posted by ADiamond View Post
    anthony@tvtcapital.com for your ERTC-loan needs
    Bro you need a signature...
    Steve Benjamin
    Professional Business Loans

    1012 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.

  8. #8
    Senior Member Reputation points: 50566 ADiamond's Avatar
    Join Date
    Apr 2014
    Location
    New York City
    Posts
    890

    Quote Originally Posted by Olderguy View Post
    Bro you need a signature...
    Dear Bro,

    I think it's more unprofessional to have a 15 line signature (mainly in emails) with 10 logos to boot.

    There's a reason I do not want my company name advertised in my signature on here. I get to select who I give my contact information to.

    Thank you for caring again, Olderbro!
    Anthony Diamond
    Underwriter

  9. #9
    Senior Member Reputation points: 14389
    Join Date
    May 2014
    Location
    California
    Posts
    336

    straight outta debanked..

    https://www.financeerc.com/

  10. #10
    Bottom Line Concepts is the largest independent consulting firm filing for ERC on a contingency basis. To date they have filed for 23,000 businesses who have received $3.5B in credits.

    Very professional staff who will take care of the client/business.

    https://bottomlinesavings.referralro.../MARVINFAUN78/

  11. #11
    If anyone is looking for a great broker friendly ERC program for your clients try lyonerc.com, you’ll get paid on all deals as well as it being able to sell your MCA

  12. #12
    Senior Member Reputation points: 1755
    Join Date
    Oct 2022
    Posts
    258

    I built out a program ground up with an international accounting firm with 250+ CPAs. They can originate the file in 24-48 hours AND handle the ERC Advance! Rather trust a licensed professional who is held liable and accountable. Send me a DM if interested and we can talk.
    They also offer a wide spectrum of other accounting services that generate residual income.
    Elon Henek
    HCI - Glen Cove, NY
    Main: 1-516-676-1854
    Cell: 1-516-236-4086

Similar Threads

  1. Employee Retention Tax Credit (ERTC)
    By Michael Slabitcher in forum Promotions
    Replies: 0
    Last Post: 06-20-2022, 03:27 PM
  2. Replies: 0
    Last Post: 05-20-2022, 11:56 PM
  3. Workshop: Employee Retention Tax Credit (ERTC) 10/26
    By Yankeeman07 in forum Everything else
    Replies: 0
    Last Post: 10-14-2021, 04:56 AM
  4. Employee Retention Tax Credit
    By Yankeeman07 in forum Everything else
    Replies: 1
    Last Post: 10-07-2021, 10:59 AM
  5. Training / Employee Retention
    By channin19 in forum Merchant Cash Advance
    Replies: 6
    Last Post: 08-06-2014, 11:30 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY