flagstar bank sba loans

The loans can be forgiven if a business maintains its payroll for eight weeks at employees’ regular salary levels and uses the loan proceeds for qualifying purposes. We’ll help get you the financing you need. $150K–$350K loan to GLOBAL ENGINEERING, INC. $150K–$350K loan to MODERN BODY ENGINEERING CORPORATION. Features include 1,2. Employee totals, which the SBA refers to as “jobs retained,” refers to the number of employees as reported by the borrower and may not necessarily reflect the number of workers kept employed with PPP funds. For loans worth less than $150,000, the SBA released anonymized data by state. Based on standard PPP eligibility rules, BIBLE BAPTIST CHURCH's total 2019 payroll expenses were approximately $498,720 in order to qualify for the PPP loan amount received. We’ll help get you the cash you need. Among other things, this legislation opens the door to a second round of forgivable Paycheck Protection Program loans for small businesses that have been hardest hit by the coronavirus pandemic. NEW $5,000… Flagstar Bank A professional loan will allow you to get financial support of up to $840,000 with no PMI and down payment. Use, $1M–$2M loan to JAMBOOR MEDICAL CORPORATION. If you have information about the Paycheck Protection Program or any of the businesses or loans in this database, we’d like to hear from you. Email tips@cnn.com or, if you need to reach us securely, visit cnn.com/tips. Small Business Administration loans, 1 or SBA loans, are designed with your entrepreneurial dreams in mind. Sources: Small Business Administration, US Census Bureau, Internal Revenue Service, Bureau of Labor Statistics, Professional, Scientific, and Technical Services, Administrative and Support and Waste Management and Remediation Services, Other Services (except Public Administration), By submitting your information, including your name and any other personal information, you agree to, Offices of Physicians (except Mental Health Specialists). Review, approve, structure, and finalize commercial/construction real estate, equipment leasing, SBA, C&I loan documents required for all new, renewal, modification and extension loan requests. Wells Fargo announced back in June 2018, that it had plans to sell all of its branches located in Michigan, Indiana, and Ohia to Flagstar Bank. We are pleased to announce that in the first rounds of the PPP, nearly 100% of applications we received were approved by the SBA— 4,670 loans that provide more than $445 million worth of relief. Talk to a small business specialist by phone or in person to get a recommendation and start your application. SBA Preferred Lender offering a full array of SBA 7(a) and 504 loans. Financing that’s tailor-made for smaller businesses. Our bankers are here to provide superior customer service—whether at a branch, online, or over the phone. Unlike many other construction lending institutions, we maintain direct contact with you and the general contractor through the life of the construction funding. Fundera — you can sign up to begin the application process and they will submit your app to a SBA-backed bank that has to capacity to handle the loan Boefly — a little known bank backed by ConnectOne Bank in New York, which was one of the first to issue a PPP loan last Friday, is now accepting applications and has been very communicative throughout the process. There are no agents available to chat at this time. I have information about a company or loan in this database, I’ve identified data that is wrong or outdated. Loan repayment via auto-debit from a Flagstar checking account is required for all loans. Supported by the U.S. Small Business Administration, this small business loan is a more accessible option to get the capital you need and put your plans into motion. 65 April 14, 2020: $350K–$1M Flagstar Bank, FSB: $150K–$350K loan to ADVANCED DERMATOLOGY, THOMAS J. HOFFMANN, M.D., SURGICAL & MEDICAL The $27 billion-asset Flagstar, which has historically focused on mortgages, has made more than 3,000 PPP loans totaling $380 million. 1 And with a servicing portfolio that exceeds $100 billion in home loans, we have the knowledge and expertise to ensure the smooth transfer of your loan. Small Business Administration (SBA) Loans. We offer four competitive business checking accounts to suit businesses of all sizes. You should carefully evaluate your particular circumstances to determine if utilizing the full available 24-week period would be beneficial to you in maximizing your loan forgiveness. $350K–$1M loan to HENNESSEY ENGINEERS, INC. $150K–$350K loan to COM SPEC INTERNATIONAL, INC. $1M–$2M loan to ATSALIS BROTHERS PAINTING CO, $350K–$1M loan to JOSHUA GRADING & EXCAVATING, INC, $150K–$350K loan to ATSALIS BROTHERS CONSTRUCTION CO, $350K–$1M loan to FAITH ELECTRIC AND GENERAL BUILDING CON, $150K–$350K loan to J&P ELECTRICAL COMPANY LLC, $150K–$350K loan to BRENTWOOD ELECTRIC LLC, $150K–$350K loan to CHAPPLE ELECTRIC SERVICES, $150K–$350K loan to RJ KARASEK CONCRETE CONTRACTORS INC, $150K–$350K loan to SPECTRUM CONSTRUCTION SERVICES, INC, $150K–$350K loan to SEBESTA BROTHERS ELECTRIC INC. $150K–$350K loan to SOUTHFIELD GRAND HOSPITALITY, INC. $150K–$350K loan to CANTON VALUE HOSPITALITY INC, $150K–$350K loan to NAMOU HOTEL GROUP, INC. $150K–$350K loan to WOODHEAVEN ENTERPRISES, INC. $5M–$10M loan to EASTER SEALS-MICHINGA INC, $150K–$350K loan to DETROIT MANAGEMENT CORP, $350K–$1M loan to INDIANA REFRACTORIES INC. $150K–$350K loan to LOERA RESTAURANTS INC. $150K–$350K loan to FRIENDS INC/DELS FOOD BARSTOW INC, $150K–$350K loan to CARPINOI FAMILY RESTAURANT, INC. $150K–$350K loan to STEER 'N STEIN VICTORVILLE INC. $350K–$1M loan to ROLLING IN THE DOUGH, INC, $2M–$5M loan to COMMONWEALTH BLUE RIBBON RESTAURANTS, $350K–$1M loan to BRUNDIDGE MANAGEMENT CORPORATION. Need assistance? On December 21, 2020, Congress passed the Consolidated Appropriations Act to provide emergency financial assistance for American workers and small businesses, and on December 27, it was signed into law. Condition of financing may include automatic payment deduction from Desert Community Bank checking account. Customers also notes that if you have an existing SBA loan, the SBA will cover the next six months of principal and interest starting April 2020 (for 7A and 504 loans.) (If your loan was disbursed before June 5, 2020, you can also choose an 8-week period to spend your PPP loan funds on SBA forgiveness eligible expenses.) 1Subject to credit review and approval. We offer a wide variety of SBA loans intended to provide cash relief and fuel the growth of your business. We’ve worked hard to establish ourselves as an SBA preferred lender. Here are the highlights and takeaways of the Payment Protection Program from Fifth Third Bank. We’d like to hear from you. Additional documentation may be required to obtain SBA financing. Our site relies on JavaScript to function correctly. TO BE ELIGIBLE FOR AN SBA LOAN, YOUR BUSINESS SHOULD: Meet established lending requirements and obtain credit approval, Have a satisfactory business and personal credit history, Be profitable with sufficient cash flow to meet both your new and current financial obligations, Have adequate business income to support the term loan with no reliance on investment income, Apply for a small business loan at your local, Vision, Guiding Principles, and STAR Values, Corporate Responsibility Community Report, Flagstar Mortgage Tech Accelerator Program. Because the SBA released loan amounts in ranges, date, business type, industry, state and county totals represent minimum estimates. Within this Act, the government authorized the Small Business Administration (SBA) to back Paycheck Protection Program (PPP) loans through local lenders. UROLOGIC INSTITUTE OF THE HIGH DESERT, INC. ADVANCED DERMATOLOGY, THOMAS J. HOFFMANN, M.D., SURGICAL & MEDICAL, Data Processing, Hosting, and Related Services, Water and Sewer Line and Related Structures Construction, Electrical Contractors and Other Wiring Installation Contractors, published by the Small Business Administration (SBA) on July 6, 2020, Terms of Less money down (up to 90% financing) Longer loan payback time (up to 25 year terms) Possibility of no balloon payments; fully amortized loans Warning: you have JavaScript turned off in your web browser. With our bankers on your side, we can create personalized SBA loan solutions for growing businesses looking to acquire and/or renovate owner-occupied real estate and equipment, augment working capital, finance receivables, consolidate debt, and more—with possible longer repayment terms and a lower monthly payment. An agent is standing by to help with your questions. Receive assistance from our customer support center, Find answers to questions, important forms, and additional methods to contact us, Official banking and mortgage partner of the Detroit Pistons, Small Business Administration Loans (SBA Loans). Additional documentation may be required to obtain SBA financing. The data in this database was published by the Small Business Administration (SBA) on July 6, 2020 and includes all approved, active Paycheck Protection Program (PPP) loans worth $150,000 or more. This data represents about 13% of the 4.8 million loans and about 73% of the $521 billion approved under the PPP to date. Sometimes building your business requires more than just a great plan. If you identify information that you believe to be incorrect or outdated, let us know. To learn more about how Comerica can help you grow your business, contact one of our SBA loan officers. Wells Fargo is an SBA preferred lender and offers SBA loans nationwide – making it one of the best for small businesses. While CNN has attempted to clean this data, it may still contain errors. If you want to determine whether a business loan is right for you, check out our Business Loan Calculator. SBA 7(a) Loan Program . SBA 7(a) Loan Program is ideal for businesses that want to improve cash flow, refinance debt, fund improvements, expand their franchise, purchase machinery/equipment, finance real estate or grow their business through acquisition or expansion. May provide smaller down payment requirements than conventional financing, No prepayment penalties for loans under 15 years, Lower monthly payments with terms up to 25 years, Higher loan-to-value ratios may be available, Fees may include annual line fee (applies to line of credit only), SBA packaging fee, and/or SBA guarantee fee (may be waived on certain loans). First Command Bank AK First Federal Savings & Loan Association of Port Angeles d/b/a First FederalAK First Federal Savings Bank of Twin Falls AK First Financial Bank, ... Flagstar Bank, FSB AL Focus Bank AL Fortis Private Bank AL Fountainhead SBF LLC AL Franklin Bank & Trust Company AL Franklin Synergy Bank … SBA Loans. At Flagstar Bank, we know that every customer is different, which is why we take a personalized approach to handling your loan. Forgot your MyLoans username or password? $350K–$1M loan to UROLOGIC INSTITUTE OF THE HIGH DESERT, INC. $150K–$350K loan to ADVANCED DERMATOLOGY, THOMAS J. HOFFMANN, M.D., SURGICAL & MEDICAL, $150K–$350K loan to HILLSDALE MEDICAL ASSOCIATES, PLC. The first round of dollars from Flagstar Bank’s planned $10 ... the community who told us small businesses—especially micro-businesses—needed grant money to help them qualify for SBA loans. Tringali Sanitation in Troy, MI received a Paycheck Protection Loan of $723,500 through FLAGSTAR BANK, FSB, which was approved in April, 2020. Flagstar Bank’s Black, Indigenous, and People of Color Grant Ampac Business Capital is partnering with Flagstar Bank to provide $5,000 grants to small businesses in Riverside County, California. Must be eligible under SBA guidelines. Bank of America meets all SBA Preferred Lender Program eligibility criteria, including proficiency in processing and servicing SBA-guaranteed loans. Do you have information about the Paycheck Protection Program or any of the businesses or loans in this database? Based on standard PPP eligibility rules, Tringali Sanitation's total 2019 payroll expenses were approximately $3.47M in order to qualify for the PPP loan amount received. When your business needs financing for growth and expansion, you can count on Level One Bank for flexible SBA solutions. 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