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re: Didn’t get PPP, what now?
Posted on 4/16/20 at 4:05 pm to The Spleen
Posted on 4/16/20 at 4:05 pm to The Spleen
We’ll do $15mm in revenue this yr and have 32 employees in total between salary and hourly folks. Our process with Synovous over here in ATL was pretty great. Our banker was telling us what a nightmare they were experiencing with companies just sending them all kinds of information that was irrelevant to the application process. I can only imagine. Luckily, we have a strong controller who did a great job pulling everything together. It absolutely helped us but we’re also lucky our bank seemingly had its stuff together. I’ve been frustrated with them for a while due to a real estate purchase they drug out but now I’m glad we waited to flip our business. Will probably just initiate a new relationship for real estate deals and keep our business banking with Synovous. Having multiple relationships is a good thing and will help us use them as a tool.
Posted on 4/16/20 at 4:13 pm to BLM
You’re right. Proper documentation was key. Banks didn’t have time to back and forth with people who couldn’t read or get their documentation together. I know this didn’t apply to everyone but it did for many businesses.
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