Due to an unprecedented volume of businesses seeking relief from the fallout of COVID-19, SBA-authorized Banks and Lenders receiving Paycheck Protection Program Form 2483 Applications are experiencing or will experience a variety of business process issues.

Mission Capital provides PPP Lender Support to Banks and Lenders in multiple ways:

  • Loan Processing – Average Monthly Payroll Cost / 2/15/20 Employee Confirmation (IRFN 4.2.20 Section 3bii – iii)
  • Form 2483 Addendum A / Addendum B Confirmation
  • Borrower Documentation Inventory – Application Documentation Required (“ADR”) Letters to Applicants
  • Data Warehouse: Compilation of Calculations / 2483 / 2484 / Alternative Assumption / Assumption Narrative
  • XML eTran File Preparation
  • Alternative Assumption Calculation / Documentation (IFRN 4.2.20 Section 4e)
  • Advance Purchase / Forgiveness Report Submission (IFRN 4.2.20 Section 4e)

Clarification of guidance and requirements for loan forgiveness / lender reimbursement are evolving.  Mission Capital PPP Lender Support ensures that Banks and Lenders are prepared for Advance Purchase / Forgiveness Report Submission.

How to Get Started With Mission Capital PPP Lender Support:

You are important to us, and we are here to help you in this trying time.

Construction Financing: “When To Go To Market”

Ari Hirt and Steve Buchwald of the Debt & Equity Finance Desk discuss “When To Go To Market,” a new video detailing the complexities of Construction Lending.

Highlights from When To Go To Market

  • When to approach lenders for construction financing?
  • Ideal time to approach lenders is three to six months.
  • Conditions to close: building permits, construction drawings, and buyout of major sub-contractors.
  • Risks of going out too early: lender deal fatigue, market change, and budget increases.
  • More construction financing in 2018 than 2017.