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re: Didn’t get PPP, what now?
Posted on 4/18/20 at 5:24 am to ruzil
Posted on 4/18/20 at 5:24 am to ruzil
Guys I don't post but I enjoy the site - I have followed the progressions (or regressions) of the PPP loan stuff since it began. I was on a text string with 16 other BR business owners who were comparing/sharing notes on the progress of their individual banks with processing their companies' loans and here's the outcome - small local banks kicked arse. I would put Iberia at #1 for sure (Essen). Red River was pumping them through as well on day one - the president of one of the branches is a good friend and they were taking care of their customers (I have no money or interest with them, but know they were processing while the big banks were being fat and happy sitting on their hands).
Switching gears, lets get back to Iberia - I personally was on the phone with a high level Iberia banker last Saturday night at around 11PM to alter my application to comply with the new updated Federal crap, while friends and family were left thinking everything would be okay with their larger national banks - most of which were declined. In addition, my personal company is certainly not one of the bigger ones Iberia handles. We are pretty small, but Iberia took care of us with priority. From what I understand, they were 24/7 taking care of all of their customers similarly.
Im truly only sharing this information to help as there are several businesses that were left out including some of my family members and friends and it's crazy. Hope this info benefits some of you who missed the first round, and lets hope you get in the second. Your bank is going to determine if you get funded. Some of the big banks consider PPP risky and are certainly dragging their feet.
Disclaimer: I haven't balanced my checkbook in probably 10 years, so I'm certainly not a banker pumping either of the above banks. I'm truly just trying to help good people in the craziest financial/health period I've seen in my life. Good health to all.
Switching gears, lets get back to Iberia - I personally was on the phone with a high level Iberia banker last Saturday night at around 11PM to alter my application to comply with the new updated Federal crap, while friends and family were left thinking everything would be okay with their larger national banks - most of which were declined. In addition, my personal company is certainly not one of the bigger ones Iberia handles. We are pretty small, but Iberia took care of us with priority. From what I understand, they were 24/7 taking care of all of their customers similarly.
Im truly only sharing this information to help as there are several businesses that were left out including some of my family members and friends and it's crazy. Hope this info benefits some of you who missed the first round, and lets hope you get in the second. Your bank is going to determine if you get funded. Some of the big banks consider PPP risky and are certainly dragging their feet.
Disclaimer: I haven't balanced my checkbook in probably 10 years, so I'm certainly not a banker pumping either of the above banks. I'm truly just trying to help good people in the craziest financial/health period I've seen in my life. Good health to all.
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