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  1. #1
    Senior Member Reputation points: 338241
    Join Date
    Mar 2015
    Location
    Boynton Beach
    Posts
    3,466

    Quote Originally Posted by getitfunded View Post
    UPDATE: BV is suspending LOC and Factor options at 5pm PST today to focus efforts on 2nd round of PPP distribution.
    Why would any funder/factor suspend normal operations to process PPP applications???? That is stepping over dollars to pick up pennies......
    Kevin Henry
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426

  2. #2
    Senior Member Reputation points: 26110
    Join Date
    Feb 2019
    Posts
    208

    Quote Originally Posted by Kevin Henry-Seacoast View Post
    Why would any funder/factor suspend normal operations to process PPP applications???? That is stepping over dollars to pick up pennies......
    It is a genius move imo. They are going to be paid a good bit to generate a massive lead list of SMBs in the US with a ton of data. They have the opportunity to a lot of new relationships with very little downside.

  3. #3
    Senior Member Reputation points: 302470
    Join Date
    Jun 2015
    Posts
    3,314

    Quote Originally Posted by Kevin Henry-Seacoast View Post
    Why would any funder/factor suspend normal operations to process PPP applications???? That is stepping over dollars to pick up pennies......
    because they have been barely funding and probably lost to much during pandemic to get back to normal funding.Thats why they are focusing on becoming a bank and ppp

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