[WestCoastFunding]

1) the EIDL is fairly useless. Yes, there may be reasons for people to pay as documents do need to be packaged. Not every borrower needs to have them packaged but some do need help.

2) even as the PPP isn’t up and running, the documents needed to get in line need to be prepared and made ready to place with 7(a) lenders. The documents needed are essentially known.


Who are you quoting? And while you say there isn’t an upfront fee, how many points are being charged in the backend? 2? 3?

[sigmundpannu]

1) the EIDL is fairly useless. Yes, there may be reasons for people to pay as documents do need to be packaged. Not every borrower needs to have them packaged but some do need help.

2) even as the PPP isn’t up and running, the documents needed to get in line need to be prepared and made ready to place with 7(a) lenders. The documents needed are essentially known.


Who are you quoting? And while you say there isn’t an upfront fee, how many points are being charged in the backend? 2? 3?

That is the exact email that Commercial Finance Partners sent out Friday. And I would believe that the no "upfront" fee is meant as no out of pocket fees.

[milliondollarcorp]

By law, lenders are not supposed to be charging an upfront fee for any type of funding. It is against the law to do so. If you look at the website you will see the percentage a lender will pay the Broker.

[Yankeeman07]

By law, lenders are not supposed to be charging an upfront fee for any type of funding. It is against the law to do so. If you look at the website you will see the percentage a lender will pay the Broker.

Where are you reading how much a bank will pay a Broker?

[milliondollarcorp]

It is on the website. Also an Auditor for the IRS we receive the information before the public.