[MCA]

I fit that requirement. So glad that my app doesn't get kicked out of that technicality.

Unless they look at your Paypal funding as a loan/credit from a bank. I know PP is not a bank but BofA might say it is...

[WestCoastFunding]

Unless they look at your Paypal funding as a loan/credit from a bank. I know PP is not a bank but BofA might say it is...

My two cents, unless you have a considerable loan with BofA they won’t fund you. I get the feeling they want to help out companies that may be at risk of defaulting on their loans by using this program. I know they say differently in public, but everything I’m hearing says that’s what they’re doing. That does for all lenders.

[MCA]

My two cents, unless you have a considerable loan with BofA they won’t fund you. I get the feeling they want to help out companies that may be at risk of defaulting on their loans by using this program. I know they say differently in public, but everything I’m hearing says that’s what they’re doing. That does for all lenders.

Agreed 100%

[Michael I]

My two cents, unless you have a considerable loan with BofA they won’t fund you. I get the feeling they want to help out companies that may be at risk of defaulting on their loans by using this program. I know they say differently in public, but everything I’m hearing says that’s what they’re doing. That does for all lenders.

i spoke withe someone at a major bank and they told me they are ignoring all non clients application and if there is more time and money they will get to it when they get to it.However math does not work , they already have more applications than amount of money they can give.so bottom line any non client has a zero chance of something happening unless something changes

[fundingsmbs]

i spoke withe someone at a major bank and they told me they are ignoring all non clients application and if there is more time and money they will get to it when they get to it.However math does not work , they already have more applications than amount of money they can give.so bottom line any non client has a zero chance of something happening unless something changes

they are all being sued in class actions for this practice (4 major banks are and more to come)

[Yankeeman07]

Lawsuits will be a waster of time - Banks are not forced to accept any particular clients, plus, this new round of funding has funding Caps for the big banks.

**Someone can do the research, but, I believe the big banks were capped at $60 billion

[Kevin Henry-Seacoast]

Lawsuits will be a waster of time - Banks are not forced to accept any particular clients, plus, this new round of funding has funding Caps for the big banks.

**Someone can do the research, but, I believe the big banks were capped at $60 billion

Dave,

Banks are not forced to take non-bank customers because of know you customer and AML. Banks have been very careful about opening accounts for non-bank customers. Some smaller banks have been willing to help non-bank clients within their respective communities. Banks get audited for this on a regular basis......
I was on a conference call with a host of attorneys today. The subject was brought up. The suit will get squashed if the clients were already a customers of the bank.

Best,

KH