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Financing Challenge:
A U.S. Subsidiary of a foreign owned company based on the East Coast applied to their bank for a PPP loan of $1.6 million. Because they were a foreign owned company, for some reason the bank's computer system blocked their application from being processed in the normal manner and their application became stuck in the system. The Company's banker who is a Senior Vice-President & Relationship Manager at the bank did not know how long it would take for the bank's IT department to fix this computer glitch. Concerned that their client would miss out on this vital PPP loan, the banker did what was best for their client.

The banker called Neil Seiden, President of Asset Enhancement Solutions, LLC ("AES") on a Saturday afternoon for assistance. The banker asked if we could assist this important client of the bank's and provide them with White Glove Assistance. Neil thanked the banker for the trust they placed in AES to assist this important client of theirs. Neil asked a senior consultant on the AES PPP Team to provide this client with VIP assistance. The senior consultant hosted a one-on-one Zoom meeting with the client and reviewed the online application with them step-by-step. We are pleased to announce that this client was approved by the SBA for a $1.6 million PPP loan and received their SBA Etran Number as well as loan documents from the lender's attorney.

Contact
Neil Seiden, 516-767-0100
neil.seiden@assetenhancement.com

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