When the COVD-19-inspired financial crisis hit our country, Congress passed the PPP (Payroll Protection Program) bill that provided grants and inexpensive loans to businesses in need. The first round of funding was problematic at best, with mostly large companies with strong banking relationships able to take advantage of the program, leaving small businesses out in the cold.
For the second round of PPP funding, Congress correctly decided to allow financial technology (online lending) companies in the commercial lending space to participate in the program, as they were already set up to handle this type of high volume, small loan disbursement.
Prior to the crisis, Corporate Capital Direct had processed numerous types of commercial funding requests in the Fintech space. Back in 2008, the company, through its corporate rescue division, helped many smaller businesses successfully navigate the bailout, back when it was typically reserved for big businesses.
This experience was paramount, and these banking relationships became invaluable.
The principles of Corporate Capital Direct have enjoyed a 30-year working relationship with DivorceForce founder and CEO Gregory C. Frank, fueling the decision for both parties to brainstorm ways in which the PPP program could be utilized, specifically to aid other ProConnect subscribers and their respective clients.
The result was a custom web portal designed to quickly and efficiently allow the DivorceForce audience to apply for both PPP and small business loans. Not only did this provide our fellow ProConnect subscribers a seat at the table; but often, a spot at the front of the line precisely when it was most needed. What resulted was dozens of happy clients, with fully-funded PPP and small business loans to help their businesses during these difficult times.
Becoming a ProConnect subscriber was a great business decision for Corporate Capital Direct, as we have generated several new clients, as well as many new referral streams from lawyers, CPAs, and other divorce professionals.
To learn more about funding solutions, or to apply for a small business loan, please visit www.CorpCapDirect.com/divorceforce. To become a ProConnect subscriber, please visit www.DivorceForce.com/professionals.