Please note: This is a sponsored post.
You may have heard that the SBA-PPP loan program ran out of funds. But did you know those funds are about to be replenished?
Eastern Union has already helped thousands obtain SBA-PPP loan approvals over the past week. Many clients successfully received funding and are now covering their monthly operating expenses. Eastern Union has dramatically pivoted and embraced this seemingly untraditional funding initiative — and now plans on doubling down on those efforts to help even more people.
“We anticipate that the second phase of SBA funding will be released this Wednesday,” says Ira Zlotowitz, Founder & CEO of Eastern Union. “The main priority for those of you who did not apply for funding yet — or if you’ve been denied, are in a holding paradigm, or waiting for confirmation — is to apply again and get your loan application into the system ASAP.”
The entire Eastern Union team is now working around-the-clock to review applications. The company created a unique partnership with Cross River Bank and Kabbage — the top leaders in the lending and technology marketplaces — to push as many applications through as possible. The shared goal is to ensure there will be no delay in processing loan applications once the funding floodgates for the second phase are reopened.
Bottom line? The faster your SBA-PPP loan application is submitted, the greater chance you will have of getting funded. You can apply now by visiting: https://partner.kabbage.com/sba-eastern-union-crb.
“During this trying time, it’s important that we look out for each other,” adds Ira Zlotowitz. “Eastern Union quickly pivoted and was the first brokerage to launch this program for free. So if you know of somebody who is struggling financially because of the COVID-19 pandemic, do them a favor and pass this along. If we stand by one another, and unite, we will get through this challenging period.”
Want to find out more information about this limited-time initiative? Visit www.sba-ppp.com to learn more about the new SBA-PPP loan funding program offered by Eastern Union.
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25 Comments On "Eastern Union Pivots To Help Business Owners Obtain SBA-PPP Loans For Phase 2 Of Federal Funding Program!"
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Any requirements to be eligible with them? Do you need to have an account at their bank? Thank you
no need for an account with them.
If I already applied with different bank but didnt give docs can I apply here as well
Yes, The first bank that approves will fund.
Tzvi,
I applied with a few banks, as you advised. 2 replied that they are ready to submit it to the SBA. (Ira advised that a E-tran number is what we need).
Should I tell them they shoudnt apply, and only let one apply? I have read on some blogs, that if the sba gets more then 1 requests, they bump you.
Catch?
Catch is you have to pay it back as with any other loan.
That’s not true. If used properly, it is a forgivable loan.
Do you usually only apply at banks? TD does this?
Yes
But my TD branch is closed how do i apply then?
This may be off topic, anyone know where to apply for NY Unemployment Assistance ?
NY DOL website
Can you attempt to submit through multiple banks at once?
Yes, You can apply at as many banks as you would like.
For a self-employed, what may the funds be used for? Also, does one need good credit for approval? Is there a hard inquiry?
I don’t know what type of credit you need, but there is a hard inquiry
Hard inquiry for applying? If i apply at a few banks, i wil have a few hard pulls?
The funds may be used for utilities, mortgage, and other needs as well.
I am self employed and get a 1099 from my business can I qualify?
Yes, employees are eligible with a 1099. The employer is not.
Does this need a heter iska?
No
I applied with them right when they opened up applications. But during Passover, they emailed requesting documents again. I, therefore, lost out on the first phase of funding. Let’s hope I get during second phase or my business is toast.
I applied with a few banks, as advised. 2 banks replied that they are ready to submit it to the SBA. (Ira advised that a E-tran number is what we need).
Should I tell them they shoudnt apply, and only let one apply? I have read on some blogs, that if the sba gets more then 1 requests, they bump you