'Paycheck Protection Program' (PPP) Applicants Can Now Register for Next Round of Loans Through Eastern Union

BROOKLYN, N.Y., Dec. 28, 2020 /PRNewswire/ -- Business owners nationwide can now register for loans under the second round of the Small Business Administration's Paycheck Protection Program (PPP) through Eastern Union, one of the country's largest commercial real estate finance firms.

During PPP's first round in the spring, Eastern Union -- at no charge to applicants -- brokered more than 10,000 loan applications for employers across the country. The company will again broker applications at no cost to loan seekers.

"The sooner a PPP loan application is submitted, the better its odds of getting funded," said Ira Zlotowitz, founder and president of Eastern Union. "Building upon our formidable record of success in brokering PPP loans, we urge business owners to act quickly to get their loan applications into the system.

"Tapping into our multi-billion-dollar network of banking resources," he said, "Eastern Union has the proven expertise to cut through government red tape and promptly execute loan approvals."

Individual businesses can register now through Eastern Union by visiting https://easternunion.com/ppp.

"Eastern Union is proud to have been among the first brokerages nationwide to launch this program for free," said Mr. Zlotowitz. "We call upon employers to act now to queue themselves up for PPP assistance. We also urge employers to tell other businesses about the immediate availability of our registration platform."

Mr. Zlotowitz also said that Eastern Union is prepared to share PPP commissions in partnership with accounting firms, merchant cash advance companies, or other similar business that can tap into a referral network of 25 or more companies. Firms interested in partnering in this way can visit https://easternunion.com/partner.     

The Paycheck Protection Program provides loans designed to provide a direct incentive for small businesses to keep their workers on the payroll while covering operating expenses. SBA will forgive loans if employee retention criteria are met and if funds are used for eligible expenses.

About Eastern Union

Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage firm employing more than 125 brokers and real estate professionals and closing $5 billion in real estate transactions annually. 

Boasting one of the industry's highest transaction volumes, the Eastern Union team leverages its relationships with banks and its marketplace knowledge to bring clients the best available rates.

The firm arranges financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions. Eastern Union's Multi-Family Group has reset market pricing by introducing an unprecedented quarter-point fee -- with no back-end fees -- for refinancing multifamily properties backed by Fannie Mae or Freddie Mac, transactions known as "agency refinancings."

Eastern Union's groundbreaking app serves as an intelligent commercial real estate toolkit. Its eCALC feature 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 multiple branches along the East Coast. 

Eastern Union's capital introductions are handled through its affiliate company, Eastern Equity Advisors. 

For more information about Eastern Union, visit https://easternunion.com.

Media contact:

Steve Vitoff
Eastern Union
516 652 0785
[email protected]

SOURCE Eastern Union