SBA-PPP “FORGIVABLE LOAN” UPDATE FOR MOSDOS AND BUSINESSES OWNERS: FROM IRA ZLOTOWITZ, PRESIDENT OF EASTERN UNION

RUSH ON SBA-PPP LOANS MAY DIMINISH FUNDING

The Small Business Administration (SBA) is now offering “FORGIVABLE” Paycheck Protection Program (PPP) loans to help businesses impacted because of the COVID-19. Thousands of loan applications are pouring into the SBA from banks all over the country, and SBA-PPP loans are starting to get approved.

The biggest risk appears to be that the SBA will run out of the $350bb in funding — so the clock is ticking and time is of the essence.

My advice to every Rosh HaMosod and business owner is simple: If you deal with a bank that is providing SBA-PPP loans, and that bank is taking applicants, GO DIRECT ASAP. If you do not have a relationship with a bank, find a bank or broker offering SBA-PPP loans, and APPLY NOW.

HOW TO APPLY FOR & EXPEDITE YOUR LOAN APPLICATION

If you want the expert brokerage team at Eastern Union help you apply for a SBA-PPP loan, through our partnership with Cross River Bank, here is what you must do to quickly begin the process:

  1. VISIT CROSSRIVER.COM/PPPAND START THE APPLICATION
  2. ANSWER “YES” TO THE QUESTION “IS AN AGENT HELPING YOU FILL OUT THIS APPLICATION”
  3. TYPE IN THIS AGENT CODE: 4530

[NOTE: THIS AGENT CODE IS FOR EASTERN UNION TO EXPEDITE AND OVERSEE YOUR APPLICATION PROCESS. IF YOU DO NOT PUT IN THE AGENT CODE, YOUR APPLICATION WILL NOT BE EXPEDITED BY EASTERN UNION!]

  1. SUBMIT THE APPLICATION ON CROSS RIVER BANK PORTAL

WHY APPLY THROUGH A PREFERRED BROKER LIKE EASTERN UNION?

You should strongly consider using a Preferred Broker like Eastern Union. In addition to the fact that THERE IS NO COST TO YOU FOR USING USE A BROKER LIKE EASTERN UNION FOR THIS LOAN PRODUCT, there are many valuable benefits that the brokers at Eastern Union can provide.

Benefit A: Your loan application files submitted through Eastern Union will rise to the top of the list and be expedited for quicker processing, resulting in you obtaining funds faster.

Benefit B: You will be able to reach out to me or any of the 100+ loan professionals at Eastern Union to answer questions pre-and-post application for status updates.

Benefit C: You will have a loan expert at Eastern Union available to personally help you fill out the application if you find it confusing or complex.

ONLINE RESOURCE FOR ALL YOUR SBA-PPP LOAN QUESTIONS

If you have questions or want to learn more, visit Eastern Union’s SBA-PPP website at SBA-PPP.com or simply email our loan advisors at [email protected].

Don’t plan on using Eastern Union for your SBA-PPP loan? That’s alright — please feel free to send Eastern Union your questions anyway. We are here to help Mosdos and businesspeople get through these challenging times.

On behalf of Eastern Union, I look forward to helping you obtain the SBA-PPP funding you need. Stay healthy, stay safe, and stay positive!

Ira Zlotowitz

President | Eastern Union Funding

Mobile: (917) 597-2197    

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