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re: SBA and PPP
Posted on 4/3/20 at 12:42 pm to slinger1317
Posted on 4/3/20 at 12:42 pm to slinger1317
We use Iberia. Got the new application, waiting on what is supposed to be the new calculator.
Was told that SBA keeps changing forms and backup and such so most large banks won't submit until possibly Monday as to not have to continually refile as things change.
I'm just waiting in hopes of getting it sent in today.
Was told that SBA keeps changing forms and backup and such so most large banks won't submit until possibly Monday as to not have to continually refile as things change.
I'm just waiting in hopes of getting it sent in today.
2
Posted on 4/3/20 at 12:45 pm to ROUSTER
What new calculator? The app I filled out yesterday asked for average monthly wages/related expenses x 2.5 = PPP amount.
Submitted everything to my loan officer yesterday. But I'm not a current customer of that bank since ours isn't participating. We'll see how this goes.
Submitted everything to my loan officer yesterday. But I'm not a current customer of that bank since ours isn't participating. We'll see how this goes.
Posted on 4/3/20 at 1:40 pm to ROUSTER
I’m being told you need to go with a technology driven bank where computer systems compute the documents and spit it out for approval. The smaller banks still have to do their Ancient process. Loan Officer-Packager-Underwriter-Credit Committee-Closer-To you.
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