As an alternative lender, Benworth provides real estate-secured loans and unsecured loans through its family of companies. In April 2020, Benworth became one of the few non-bank lenders authorized by the SBA and U.S. Department of the Treasury to offer Paycheck Protection Program (PPP) Loans.
Herein, how do I contact Benworth about my PPP loan?
I need service related to my PPP loan that is not listed above >
- [email protected].
- (305) 676-9632.
- SW 97th Avenue Suite 201. Miami, FL 22173.
Simply so, how do I know if my PPP loan is approved?
If you applied for your PPP loan via Womply, you can check loan application status at https://www.womply.com/ppp-status/. If you did not apply through Womply, you will need to contact your SBA-approved lender and request a status update.
How do I pay back a PPP loan?
The website you can use to repay your EIDL loan can be found at Pay.gov. You must have your 10-digit loan number and a payment amount in order to pay it back. There is no prepayment penalty but it is possible a minimal amount of interest has accrued from the time the loan was disbursed.
Approvals come in 24 hours, and funding within days.
Once your loan is approved, estimates are that it should take approximately 5-7 business days for your funds to become available. By law the your lender has up to 10 calendar days to fund your account once it receives notification of your loan approval from the SBA.
Lenders have up to 20 days after the date the SBA approves your application to fund your PPP loan. In most cases, this funding happens within 2 to 3 business days after you sign your promissory note.
In order to use Womply Pay, we conduct a quick and easy verification process to ensure we are as secure as possible. Once your bank account has been linked, a member of our team goes through a security and verification process that typically takes between 1-3 business days.
About Benworth Capital
Benworth Capital is a Miami, FL based private lender providing funding in Florida. They offer cash out hard money loans, long term rental property loans, and fix and flip hard money loans. … They primarily provide loans for single family residences.
“After more than a year of operation and serving more than 8 million small businesses, funding for the bi-partisan Paycheck Protection Program has been exhausted,” a Small Business Association (SBA) spokesperson said in a statement to CNN. … This is not the first time the PPP loan money has run out.
For Benworth, this means for loans to purchase or refinance property, borrowers can take up to 2 years to repay. For second mortgages, borrowers can take up to 5 years to pay back the loan. What is a Loan-to-Value (LTV) ratio?
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