Results 1 to 5 of 5
-
01-31-2023, 10:33 AM #1
Who does Advances on the ERC
Who does Advances on the ERC
-
01-31-2023, 11:07 AM #2
- Join Date
- Dec 2021
- Posts
- 215
-
01-31-2023, 01:15 PM #3
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%Last edited by Olderguy; 01-31-2023 at 01:27 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.
-
01-31-2023, 04:59 PM #4
- Join Date
- May 2014
- Location
- California
- Posts
- 348
-
02-03-2023, 09:28 PM #5
- Join Date
- Oct 2022
- Posts
- 291
Shorebird has a good one.
Similar Threads
-
Anyone have clients asking for more advances but can’t because of stacked up advances
By mobidon in forum Merchant Cash AdvanceReplies: 2Last Post: 10-07-2021, 11:24 AM -
Under 5k advances
By adroc in forum Merchant Cash AdvanceReplies: 9Last Post: 08-11-2016, 11:24 AM -
CT Co with 2 Advances
By Will Sanio in forum Deal BinReplies: 10Last Post: 01-28-2016, 12:48 PM -
7 advances?
By skideeppow in forum Deal BinReplies: 9Last Post: 07-31-2015, 10:04 AM -
Who can help, My guy has three advances out looking to get 20-30k
By IKorie in forum Deal BinReplies: 2Last Post: 02-04-2015, 04:10 PM