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.

SBA CARES Assistance | April 2, 2020

Due to an unprecedented volume of businesses seeking relief from the fallout of COVID-19, Mission Capital is expecting long queues from most banking institutions qualified to lend the highly in-demand PPP SBA loans.

We know that you and your assets need relief quickly, are focused on asset management and corporate concerns, and are seeking assistance.  If you have a very strong banking relationship that is participating in the program it is always recommended to reach out to that institution first as they will give preference to existing customers in the queue.  We are standing by to assist those without strong pre-existing relationships or are concerned about waiting in a queue with lenders who may be unable to get them PPP loans as soon as possible.

The team at Mission Capital has been in constant contact with numerous SBA lenders – many of whom are our clients, as well as attorneys, and accountants to gain an understanding of how to size and optimize PPP proceeds and determine the effect the potential uses of proceeds has on loan forgiveness.  We are ready to assist you in navigating this tricky process as your Agent at no cost to you. As your Agent we will be compensated by the Lender based on the limited SBA approved schedule.

Starting on Friday, April 3, 2020, we can apply for these PPP loans on your behalf.  We encourage you to reach out to us as soon as possible and are happy to discuss any nuances with you over the phone at 212-925-7708.

In the meantime, please find relevant links below to expedite the loan application process.

  1. MCA Agency Agreement
  2. PPP Loan Application
  3. PPP DD Checklist
  4. PPP Loan Program Overview

Please send completed forms and documents to: sbacares@missioncap.com.  We can also provide a secure FileBox link for files containing sensitive information.  Feel free to reach out and/or send these items directly to your Mission Capital coverage executive as well.

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

Best Regards,
The Mission Capital Team