Loan Servicing:
Payments– PLP is your resource for obtaining this payment information.
Missed Payments- Payments will be drafted the 1st business day of the month. All payments not posted by the 15th will incur a late fee.
Year-end Statements -Year-end interest statements are not sent out until the end of January.
Payoff SBA loan- Notify PLP as soon as possible. NOTE: You cannot make extra payments to the principal on this loan.
Servicing Requests – Servicing requests that require SBA approval (ex. SubordinationThe act of placing debt in a lower position, behind a “new” loan., AssumptionThe act of taking over another’s debts or obligations.), please allow 15 business days for approval.
