Q: As a CA Real Estate Broker, Can I "help and assist" a Borrower in filing for a Covid Loan by US SBA's stimulus loan?
With the recent "covidation", US will grant money to Small bizs. Some of them, (if not most) don't even know how to use the computer nor file and compile the paperwork requirements. To make it EZ for them, Can a California Real Estate Broker help and "assist" them in doing such as well as loan processing IF THE BORROWER HIMSELF WILL PAY ME for filing & preparing them?
Thanks.
A: If you value your real estate brokers license you will either call the SBA and get clarification as to who can “help” incompetent people file applications for SBA loans or call an experienced banking lawyer and hire them either to advise you before doing something dumb or hire them to supervise you in doing what you are trying to do. I prefer the latter idea because it obviates the need to call the SBA, and allows you to get started immediately, with no fears about your situation.
A: Let me ask you with a theoretical question, Could I sell hoses to any consumers without a Real Estate License. If so, then I could say you could also help people with their SBA loans for a fee. Best of luck
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