Dual Partnership Information
As a Dual Partner
As a Dual Partner, you will refer borrowers to ALC, and agree to assist those ALC borrowers NOT referred by you to file the PPP applications on ALC’s web portal (submission of required information and uploading required documents). In order to help ALC track your referrals, you must instruct your borrowers to submit your PRIORITY CODE assigned by ALC as they file the application. Then you will be entitled to following referral fee for each referral approved by SBA, within 7 days of arrival of the payments of the SBA fees: 1% of the loan amount for loans of $350,000 or under, or 0.5% of the loan amount for loans above $350,000. In addition, ALC will list you as one of the application partners on its PPP Application Partner website. ALC’s borrowers may choose you to help file their online applications. You do not have to accept any specific borrower requests. But if you do, you will NOT charge a fee to the borrowers coming from ALC PPP website. ALC will assign you a PARTNER ID which can be entered on each PPP application you helped with. You will be entitled to referral fees for loans referred by you, and a separate service fee of $250 per completed application for loans NOT referred by you, paid by ALC within 30 days of the loan approval.