SIGforum.com Main Page The Lounge Paycheck Protection Program...did you file and have you gotten any funds yet?
Main Page The Lounge Paycheck Protection Program...did you file and have you gotten any funds yet?Go | New | Find | Notify | Tools | Reply | |
eh-TEE-oh-clez |
Chase bank. Online transaction initiated Apr 3. Place in line held, but no online app available. Checked back periodically on website throughout weekend and Monday. April 7, encountered live website. A couple of attempts throughout the day, website appeared unable to handle the traffic. Application submitted late April 7, including uploading of docs. Confirmation email received. No status indication as far as I can tell. Just wait and see I guess. | |||
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| eh-TEE-oh-clez |
Not so fishy. Wells Fargo was also over-subscribed and they weren't taking my application either. Funds are first come, first serve. You might already be too late. | |||
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| SIGforum Official Eye Doc  |
Submitted to small local bank Friday the 3rd of April; submitted by bank Sunday the 5th; approved Sunday. Bank had 5 business days to disburse from approval date; SBA has (as of Tuesday night, April 7th, extended that to 10 business days. | |||
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Lost |
Has anyone received funds yet? I had to submit additional documents several times. They are still "reviewing my application". | |||
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| Member |
^^^^ No Funds yet. | |||
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delicately calloused |
Chase found a way to disqualify me. I filed for my employees’ benefit. Bastages. You’re a lying dog-faced pony soldier | |||
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| SIGforum Official Eye Doc |
Funded yesterday. Full amount requested. Small local bank with which I do all business banking. | |||
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| Lost |
Most encouraging. Seems the small local institutions were the way to go. | |||
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| Member |
Uploaded 1099's and other doc's to local bank on Monday morning 04/13/2020 waiting...This message has been edited. Last edited by: SummersAtTheLake, | |||
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| Member |
Yes we've applied... No, we haven't received funds. | |||
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Unflappable Enginerd |
2 small local companies owned by friends of mine received their money today, both have been digging holes in credit lines to pay their employees. __________________________________ NRA Benefactor I lost all my weapons in a boating, umm, accident. http://www.aufamily.com/forums/ | |||
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| Lost |
"Your application has been submitted to the SBA for review." Baby steps. | |||
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| Member |
Too bad it's going to run out of money by tomorrow or Friday. https://www.foxbusiness.com/mo...ongress-feud-funding | |||
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| Little ray of sunshine  |
I learned a lot about the various loan programs in order to help my clients. I knew there would be lots of questions. I have fielded a lot of questions and reviewed some loan packages for clients. Chase has been the worst. I have heard of no one who applied at Chase getting funded. In Houston, local and regional banks have been the way to go. However, I have also gotten reports that BoA has gotten these processed and funded well. In Houston, BBVA, Commercial Bank, Prosperity, and Co-merica have gotten loans completed to my direct knowledge. I believe that some of the loan packages are not fully compliant with the CARES act, but if you want and need the money, this may not be the time to try to negotiate the terms with the bank, which are probably not inclined to negotiate these smaller loans anyway. The SBA seems to not be processing EIDLs efficiently, and no one I know of has gotten the $10K grant that was supposed to be funded within 3 days of making the application for an EIDL to the SBA. Apparently that has caused a stink with some congressmen and senators who have criticised the SBA for dicking around and saying it could cut back on the 10K grants. I also hear that PPP money will be gone by the end of the week. The fish is mute, expressionless. The fish doesn't think because the fish knows everything. | |||
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Info Guru |
Funding is done as of about 30 minutes ago. No longer an option for banks entering PPP loans on SBA site.  We were able to get 95% of our loans approved and funded - ~1296 loans for 227MM. Mid sized regional bank, with people working around the clock from the Friday since we started taking them thru last night in anticipation of the funds running out. Our team knocked it out of the park and helped a whole lot of families. “Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence.” - John Adams | |||
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chickenshit |
I have not gotten so much as a whisper. I have no idea where I stand. ____________________________ Yes, Para does appreciate humor. | |||
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| In search of baseball, strippers, and guns |
PNC had my fucking application for 12 days and never submitted it to the SBA. Their application portal went live on 4/4 at 5 am, I had my SBA number in the 4 digits by the afternoon. I spoke to my healthcare banking representative as recently as Monday and was told my loan was “in underwriting”. As of this morning it still showed as “in process” on their website where you could check status Unless the SBA comes through with the EIDL I’m headed to chapter 11. If there is more money I need the name of your bank...clearly my mistake was being a PNC customer —————————————————— If the meek will inherit the earth, what will happen to us tigers? | |||
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| Little ray of sunshine |
That is the second report I have heard that all the PPP money is gone. I don't know if applications in process are included or if money was set aside for those. The fish is mute, expressionless. The fish doesn't think because the fish knows everything. | |||
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Member |
Apparently the program has reached its limit. WTOP.com _________________________________________________________________________ “A man’s treatment of a dog is no indication of the man’s nature, but his treatment of a cat is. It is the crucial test. None but the humane treat a cat well.” -- Mark Twain, 1902 | |||
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| Info Guru |
It's definitely done as far as current funding. It depends where in the process the application was. If the bank was still underwriting it, then it's a no go unless more funding is made available. Once entered in the SBA system a confirmation is given and if you have that you should be good to go. If you don't have SBA confirmation you will probably have to wait until more funding is made available. We ended up getting 96% of our loans funded - 228.5MM. It required working every night and day since the Friday when we started accepting applications. The only downtime was for a few hours on Easter Sunday, but our people didn't want to take off long because they knew the funding was tight. “Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence.” - John Adams | |||
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SIGforum.com Main Page The Lounge Paycheck Protection Program...did you file and have you gotten any funds yet?
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