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Second Round PPP Loan through Capital One
Posted on 2/24/21 at 10:16 am
Posted on 2/24/21 at 10:16 am
Has anyone had their loan actually funded this round going through Capital One? My wife's company was approved a couple of weeks ago, but the load has yet to be funded.
Just wondering if anyone else is experiencing similar delays as well.
Just wondering if anyone else is experiencing similar delays as well.
Posted on 2/24/21 at 3:29 pm to EYEDOCNO
Capital One sucks when it comes to PPP.
They are a credit card company anyway. They have not kept up with banking.
They are a credit card company anyway. They have not kept up with banking.
Posted on 2/24/21 at 3:42 pm to EYEDOCNO
I applied for the first draw this second stimulus go round, through TheLoanSource and they were incredibly fast and efficient. Think it was less than a month from when I applied to when I got the money deposited in my account. The money was also in my account before they even notified me that I got approved, so was quite the pleasant surprise.
Posted on 2/24/21 at 4:03 pm to EYEDOCNO
Felons and illegals must be funded first.
Posted on 2/24/21 at 9:29 pm to EYEDOCNO
Do these companies have to submit information showing where this money goes ?
I personally know a couple who owns an oilfield service company, most of their employees are family and work as contract workers. They work when there's work.
They took out 500k+ the first round and have since taken 4 vacations, bought a 100k truck and a new home.
seems a little suspicious to say the least
I personally know a couple who owns an oilfield service company, most of their employees are family and work as contract workers. They work when there's work.
They took out 500k+ the first round and have since taken 4 vacations, bought a 100k truck and a new home.
seems a little suspicious to say the least
Posted on 2/24/21 at 10:11 pm to hubertcumberdale
Is it the same amount as the first? Or can you apply for more?
Posted on 2/25/21 at 1:33 am to EYEDOCNO
SK-rew Cap1. They helped only a few people. Shame on them. I'll ditch when I'm selling some existing businesses. I have no desire to stay with them. They have a racist as a spokesperson, Samuel L Jackson. Besides they wore those "Black_____" allowing something to be written in the blank. Honestly I'm feeling a lit beat up by their racism.
Posted on 2/25/21 at 7:16 am to Jjdoc
quote:
Is it the same amount as the first? Or can you apply for more?
It's all dependent on your payroll costs. If your payroll is higher this time around then the loan amount is higher. Our 2nd PPP loan was 15% higher than the first.
Can the rest of you keep your political and racial nonsense off this board please. This is the Money Board. We help people here and we don't come here with axes to grind or political crap. Take it to the Politics Board.
Posted on 2/25/21 at 7:24 am to Jjdoc
I never took a first draw so I took the first draw on the second PPP round. I got 2.5x my average 2019 monthly net profit. I think the second draw is the same but not positive
Posted on 2/25/21 at 7:26 am to hubertcumberdale
Good point. How your PPP loan is calculated depends on the structure of your company. We are an LLC treated as an S Corp and everyone is a W-2 employee.
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