Eastern Union Pivots to Help Business Owners Obtain ‘Paycheck Protection Program’ (PPP) Loans for Phase Two of Federal Funding Program

Apr 20, 2020

BROOKLYN, N.Y., April 21, 2020 /PRNewswire/ -- The Small Business Administration-Paycheck Protection Program (SBA-PPP) loan program has run out of funds, but those funds are about to be replenished.

Ira Zlotowitz, president and founder of Eastern Union. The commercial real estate finance firm has provided free loan approval assistance for thousands of applicants seeking forgivable loans under the federal government's emergency Paycheck Protection Program.

Eastern Union -- one of the country's leading commercial real estate finance firms -- has already helped thousands obtain SBA-PPP loan approvals over the past week. At no charge for Eastern Union's assistance, many clients successfully received funding and are now covering their monthly operating expenses. Eastern Union has dramatically pivoted and embraced this untraditional funding initiative -- and is now doubling down on those efforts to help even more people.

"We anticipate that the second phase of SBA funding will be released on April 22," said Ira Zlotowitz, founder and president of Eastern Union. "The main priority for those who did not apply for funding yet -- or if applicants have been denied, are in a holding paradigm, or are waiting for confirmation -- is to apply again and get their loan application into the system as soon as possible."

The entire Eastern Union team is now working around the clock to review applications. The company created a unique partnership with Cross River Bank of Teaneck NJ and Kabbage -- leaders in the lending and technology marketplaces -- to push as many applications through as possible. The shared goal is to ensure there will be no delay in processing loan applications once the funding floodgates for the second phase are reopened.

The faster an SBA-PPP loan application is submitted, the greater chance it will have of getting funded. Businesses can apply now by visiting: https://partner.kabbage.com/sba-eastern-union-crb.

"During this trying time, it's important that we look out for each other," said Mr. Zlotowitz. "Eastern Union quickly pivoted and was the first brokerage to launch this program for free. So if you know of somebody who is struggling financially because of the COVID-19 pandemic, do them a favor and pass this along. If we stand by one another, and unite, we will get through this challenging period."

Want to find out more information about this limited-time initiative? Visit www.sba-ppp.com to learn more about the new SBA-PPP loan funding program offered by Eastern Union.

ABOUT EASTERN UNION

Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage firm employing more than 100 skilled brokers and real estate professionals and closing $5 billion in real estate transactions annually. Eastern Union's capital introductions are handled through its affiliate company, Eastern Equity Advisors.

Boasting one of the highest transaction volumes in the industry, the Eastern Union team leverages its close relationships with banks and its extensive knowledge of the commercial real estate marketplace to bring clients the best rates available. Eastern Union's tenacity and experience enable the company to arrange financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions.

Eastern Union's groundbreaking commercial real estate app serves as an intelligent commercial real estate toolkit and includes features such as eCALC, which enables investors to fully value and underwrite deals instantaneously and in the palm of their hand. It is available for download in the App Store and Google Play Store.

With nationwide operations, Eastern Union is headquartered in New York, with numerous branches along the East Coast. For more information, visit www.easternunion.com.

MEDIA CONTACT:

Steve Vitoff
Eastern Union
516-652-0785
[email protected]

SOURCE Eastern Union