Results 1 to 12 of 12
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01-03-2023, 01:23 PM #1
- Join Date
- Feb 2020
- Location
- NY
- Posts
- 17
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
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01-03-2023, 01:38 PM #2
- Join Date
- Nov 2013
- Posts
- 598
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.
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01-03-2023, 02:17 PM #3
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 brokerSteve 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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01-03-2023, 02:55 PM #4
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
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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01-16-2023, 09:27 PM #5
- Join Date
- Sep 2022
- Location
- Lakewood, NJ
- Posts
- 51
eprodigy or sutton funding
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01-17-2023, 02:49 PM #6
anthony@tvtcapital.com for your ERTC-loan needs
Anthony Diamond
Underwriter
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01-17-2023, 03:16 PM #7Steve 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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01-17-2023, 04:15 PM #8
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
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01-17-2023, 05:27 PM #9
- Join Date
- May 2014
- Location
- California
- Posts
- 348
straight outta debanked..
https://www.financeerc.com/
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01-19-2023, 05:13 PM #10
- Join Date
- Mar 2016
- Posts
- 83
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/
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06-08-2023, 04:18 PM #11
- Join Date
- May 2022
- Posts
- 1
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
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06-09-2023, 01:17 AM #12
- Join Date
- Oct 2022
- Posts
- 291
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
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