Independent Financial SBA Conversion
SBA 7(a), PPP & USDA Loan Conversion
Important Things to Know
Key Dates
May 2
Last day loan balances can be viewed in Independent Financial Online Banking.May 5
Independent Financial SBA 7(a), SBA PPP and USDA loans will convert to SouthState.
May 5-16
SouthState SBA Loan Portal enrollment instructions will be emailed to Independent Financial SBA loan customers. Once enrollment is completed, SBA loans will display in the loan portal the following day.
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What’s Changing
Beginning May 5, you will be able to make your loan payments the following ways:
Automatic Draft (ACH): Payments set up as an automatic draft will continue without interruption and can be made once per month from one account.
Bill Pay: If you send your loan payment through Independent Financial Bill Pay or another third-party bill service, be sure to update the payee information to SouthState Bank and provide the mailing address listed below.
Mail: Mailed payments should include your loan account number and be sent to:
SouthState Bank, N.A.
Attn: SBA Department
P.O. Box 118068
Charleston, SC 29423
In Person: Payments can be made at any Independent Financial or SouthState Bank branch. -
Customer Action Items
If you send your loan payment through Bill Pay or a third-party bill payment service, be sure to update the payee information to SouthState Bank and provide the mailing address listed below.
SouthState Bank, N.A.
P.O. Box 118068
Charleston, SC 29423
If you have a new account number, this should be updated as well. -
Important Things to Know
- Your payment due date will not change.
- Loan billing statements will continue to be distributed on the same schedule as today.
- If you have automatic payments set up through Independent Financial, these will continue as they do today. Beginning May 5, payments can only be made once per month from one account.
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What’s New
- Between May 5 and May 16, we will send you an email invitation with login credentials, user instructions and a reference guide for enrolling in the SouthState SBA Loan Portal.
- Once your enrollment in the SouthState SBA Loan Portal is complete, within 24 hours you will be able to view your loan information, including balance and transaction details.
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What’s Changing
- By end of day on May 2, your SBA loan balance will no longer display within Independent Financial Online Banking.
- May 2 is the last day you can make transfers to or from your SBA loan via Independent Financial Online Banking.
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Customer Action Items
- To ensure timely delivery of this information, be sure your email address and contact information in your Online Banking profile is up to date.
- Your loan transaction history will not convert to the SouthState SBA Loan Portal. Be sure to print and/or save any historical transaction activity you wish to keep for your records before May 2.
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Important Things to Know
- Your loan will display in the SouthState Loan Portal the day after you enroll.
- Up to 12 months of loan history will begin to aggregate on May 5.
