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Hancock Whitney Customers - PPP funding
Posted on 4/21/20 at 1:51 pm
Posted on 4/21/20 at 1:51 pm
Any HW customers received their PPP funding yet?
I received approval at the very last minute (late Wed night) and e-signed the papers they sent me on Thursday (4/16). We are supposed to run payroll tomorrow. I was hoping to get funds by today to make sure this payroll is included. I am thinking about delaying payroll until Friday, but don't want to delay longer than two days for my employees.
Banker is saying any day now but that also telling me that is just his best guess.
I received approval at the very last minute (late Wed night) and e-signed the papers they sent me on Thursday (4/16). We are supposed to run payroll tomorrow. I was hoping to get funds by today to make sure this payroll is included. I am thinking about delaying payroll until Friday, but don't want to delay longer than two days for my employees.
Banker is saying any day now but that also telling me that is just his best guess.
12
Posted on 4/21/20 at 2:38 pm to Magiklaw
I got my application in at 2PM April 3rd and they did NOT get it in. There are a large number of customers who they screwed over. I'm fuming.
This post was edited on 4/21/20 at 2:39 pm
Posted on 4/21/20 at 2:40 pm to Magiklaw
I applied as soon as my banker would take the info. I think they submitted it on the 6th. All I got after that was a message to upload payroll info. Nothing since.
Bankers last email says “your application is already in their queue and as soon as the PPP is funded your loan will be processed”
Bankers last email says “your application is already in their queue and as soon as the PPP is funded your loan will be processed”
This post was edited on 4/21/20 at 2:45 pm
Posted on 4/21/20 at 2:45 pm to lazcreek
Lazcreek- is that through Whitney?
If it is, I have ZERO faith in their system. They have royally screwed customers over.
If it is, I have ZERO faith in their system. They have royally screwed customers over.
This post was edited on 4/21/20 at 2:48 pm
Posted on 4/21/20 at 2:49 pm to Statestreet
Yep thru Whitney
Posted on 4/21/20 at 2:52 pm to Magiklaw
I think shawnlsu got funded they Whitney.
Posted on 4/21/20 at 2:57 pm to lazcreek
few and far between. They were completely inept or negligent
Posted on 4/21/20 at 3:48 pm to Magiklaw
Submitted everything to HW on April 3rd about 1pm. Back and forth a few times for additional info. Got email last Tuesday 4-14 that she got an approval from SBA. Went yesterday and signed loan docs in the bank and rcvd funds about an hour later.
Posted on 4/21/20 at 4:08 pm to Magiklaw
I was responsible for applying for loans for 3 different companies under our asset management group.
We used EastWest Bank for 1, Whitney for another, and American Bank&Trust for the 3rd. Got turned down completely from Capital One and Chase.
Whitney was by far the slowest and most unorganized. Still have not heard anything back on their end after getting approved, while the other two companies already signed and received the money from the other 2 banks.
We used EastWest Bank for 1, Whitney for another, and American Bank&Trust for the 3rd. Got turned down completely from Capital One and Chase.
Whitney was by far the slowest and most unorganized. Still have not heard anything back on their end after getting approved, while the other two companies already signed and received the money from the other 2 banks.
Posted on 4/21/20 at 4:21 pm to Magiklaw
Magiklaw, Doesn't sound like you should be expecting anything this week
Posted on 4/21/20 at 4:53 pm to Magiklaw
quote:
I am thinking about delaying payroll until Friday, but don't want to delay longer than two days for my employees.
I had to do this last week. My employees were very understanding.
Posted on 4/21/20 at 6:14 pm to Magiklaw
I got approved through Whitney. Same day, Early Thursday morning.
My banker told me Friday it was still with the closing dept and she would contact me the second she gets it. Haven't heard anything this week, but I didn't expect to just yet. I'll probably follow up tomorrow sometime
My banker told me Friday it was still with the closing dept and she would contact me the second she gets it. Haven't heard anything this week, but I didn't expect to just yet. I'll probably follow up tomorrow sometime
Posted on 4/21/20 at 6:25 pm to Statestreet
I just got funded about 10 minutes ago. Money in my account.
I'm a Hancock Whitney customer for life.
I'm a Hancock Whitney customer for life.
This post was edited on 4/21/20 at 6:26 pm
Posted on 4/21/20 at 9:01 pm to shawnlsu
You got approved same day you applied? That is crazy. I put in on first day and barely made it. My friend put in first day as well and didn’t get in. Mine was for 91k and his was 35k. I think HW prioritized them by size like a bunch of the other banks that are now being sued.
Posted on 4/21/20 at 9:13 pm to Magiklaw
No, sorry. Same SBA approval day as the other poster.
I was sitting in the parking lot waiting g on my banker to open up the first day of the program.
I was sitting in the parking lot waiting g on my banker to open up the first day of the program.
Posted on 4/21/20 at 9:14 pm to Magiklaw
quote:Mine is less than that.
his was 35k
Posted on 4/21/20 at 9:34 pm to shawnlsu
Their system is screwed up and they are completely lost in the process. You must have gotten extremely lucky.
Posted on 4/21/20 at 10:20 pm to Magiklaw
quote:I think the regs still require the bank to disburse funds within 10 days of getting approval (E-tran number) from the SBA. (At one point some banks had requested "flexibility" on the 10 day rule, but I don't think it got changed). So if you got approved on the 15th, you should be able to count on having the funds by the 26th.
I received approval at the very last minute (late Wed night) and e-signed the papers they sent me on Thursday (4/16).
When I submitted loan docs to my bank (not Hancock), I was told the bank would get the funds from SBA in Dallas and wire/deposit them to whatever account I specified. I was told this would probably take 24-48 hours.
Posted on 4/22/20 at 8:15 am to JohnWicksDawg
I got the automated email from HW that included the SBA loan # in the docusign documents around 1am on the 16th.
Funds showed pending in my account on the 21st, and are available now.
Just in time too, payroll is tomorrow.
Funds showed pending in my account on the 21st, and are available now.
Just in time too, payroll is tomorrow.
Posted on 4/22/20 at 8:55 am to Magiklaw
posted this a couple times but as a result of their handling of our offices, we will be moving our business.
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