How Banks Can Refer Second Draw PPP Loans to Liberty SBF - SBA PPP Loan

How Banks Can Refer Second Draw PPP Loans to Liberty SBF

If your borrower needs a first or second PPP loan, refer them to approved direct Paycheck Protection Program Lender, Liberty SBF and earn a fee. We’re accepting applications for individual or portfolio PPP loans on behalf of qualified U.S. small businesses.

Congress has approved $285 billion to provide an additional round of relief funds for small businesses through Paycheck Protection Program loans round 2. In the last round, Liberty SBF facilitated over 3,200 loans in the sum of more than $350 million in PPP funding.

Trusted Paycheck Protection Program Lender

Liberty SBF is already a trusted referral resource for community banks and credit unions that do not have the infrastructure or the SBA lending expertise to provide their small business customers with timely and necessary financing. Banks and other financial institutions that do not have the capacity to process PPP loans are encouraged to make Liberty SBF a virtual back office to underwrite and fund stimulus loans for their current small business clients.

As a non-bank lender, Liberty SBF is singularly focused on PPP lending and does not seek depository accounts or enlarging business banking relationships, so bankers can feel confident in referring their customers to Liberty SBF. Banks and financial institutions should contact Liberty SBF about how to refer PPP loans by clicking here.

PPP2 Application Portal

Liberty SBF recently unveiled a new online portal to streamline the process for bankers to efficiently submit PPP loan applications for the second draw of small business Coronavirus relief for their clients. Liberty SBF expects to process thousands of applications a day, at no cost to borrowers, to ensure they are ready to close without delay as soon as the new PPP loan program is ready to fund.

Bank partners are already telling Liberty SBF that their clients are all understandably anxious while waiting for the new round of funding. The Covid-19 pandemic continues to stifle the wider economy and small business owners desperately need this capital to maintain payroll and protect their future and their employees’ jobs. They do not want to miss out.

Ready to refer PPP Loans to Liberty SBF? Click here to get started.

Liberty SBF is supporting eligible and qualifying small businesses in the U.S. with its offering, PPP+ Expertise and Service, with no requirement to be a previous or current client. As a non-bank lender without depository relationships, Liberty SBF does not have existing retail customers and has invited applications from any small business owner who needs capital to maintain payroll.

PPP2 Rules

Rules are still being finalized, but here is what we can tell you so far about the new round of PPP:

  • The relief bill includes $285 billion in additional funds for PPP lending
  • First-time borrowers as well as those who received PPP loans in the first rounds are both eligible
  • Once again, the loans will be on a “first-come, first-served” basis

The Liberty SBF team is focused on PPP Loans and has ramped up back-office support and production capability to process as many applications as needed and service all your clients as quickly as possible. Liberty SBF expects to process thousands of applications a day, at no cost to borrowers, to ensure they are ready to close without delay as soon as the new PPP loan program is ready to fund.

Bankers should click here to establish a PPP loan referral relationship with Liberty SBF, and to learn more about referrals and earning a fee on closed deals.