- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
A lot of banks have no intention on opening PPP application back up
Posted on 4/22/20 at 3:34 pm
Posted on 4/22/20 at 3:34 pm
They are overwhelmed working the ones they already have.
6
Posted on 4/22/20 at 3:36 pm to LSU6262
Sucks for the ones that had an app in at a bank that just gave them the run around last round.
If you are just now putting your first app in now, shame on ya
If you are just now putting your first app in now, shame on ya
Posted on 4/22/20 at 3:41 pm to shawnlsu
quote:
If you are just now putting your first app in now, shame on ya
Posted on 4/22/20 at 3:43 pm to LSU6262
That's how you lose potential clients.
Which there will be plenty of (people that got fricked by the likes of Capital one)
Which there will be plenty of (people that got fricked by the likes of Capital one)
Posted on 4/22/20 at 4:00 pm to LSU6262
There are also some smaller banks and their boards will only let them allocate so much of their liquidity to these loans. They still have to do their core business.
Posted on 4/22/20 at 4:01 pm to VABuckeye
Truly a shame that 243 million of 349 million went to publicly traded companies
Posted on 4/22/20 at 4:04 pm to Paul Allen
quote:
Truly a shame that 243 million of 349 million went to publicly traded companies
wow if true, what a middle finger to small biz. hopefully many banks pay a severe price for this.
Posted on 4/22/20 at 4:06 pm to LSU6262
Hancock Whitney said they're done even for current customers. So if you didn't have it in before last week, nothing.
Posted on 4/22/20 at 4:06 pm to Paul Allen
There's a variety reasons why the banks did that. Would you want to do the paperwork on one $10 million dollar loan to get it forgiven and reimbursed by the SBA or two hundred $50000 loans?
There should have been a separate pile of money for the truly small businesses and an incentive for smaller banks and credit unions to handle those loans.
There should have been a separate pile of money for the truly small businesses and an incentive for smaller banks and credit unions to handle those loans.
Posted on 4/22/20 at 4:32 pm to Paul Allen
quote:Link? Is this via the loophole of franchises being able to apply individually?
Truly a shame that 243 million of 349 million went to publicly traded companies
Posted on 4/22/20 at 4:35 pm to Paul Allen
quote:
Truly a shame that 243 million of 349 million went to publicly traded companies
Link?
Posted on 4/22/20 at 4:41 pm to Paul Allen
We( wife and i) both work and we own a daycare. We had around 100 kids with 22 employees. Had to shut it down because of the virus, we applied also and didn’t get a dime. We have a reserve built up but probably can only hold up for one more month
Posted on 4/22/20 at 4:47 pm to BowDownToLSU
quote:
We( wife and i) both work and we own a daycare. We had around 100 kids with 22 employees. Had to shut it down because of the virus, we applied also and didn’t get a dime. We have a reserve built up but probably can only hold up for one more month
Were your employees W2 or 1099? You sure you were denied, i.e., your bank just failed to give you info? If 1099, you can still get approved. You may have gone to the wrong place.
Posted on 4/22/20 at 4:50 pm to LSU6262
I applied with two new banks this go round bc last time I was in complete dark (TYFY Chase).
Both have had good communication and one sent me multiple emails to clarify things so they are def working on it. Can't ask for much more than that. And the other also answered my call first time and walked me through issues with their online protal. So there are def banks working on them. Have no idea if I'll get it but at least this time I have human contact and feel like things are moving. One required me to move my business banking there after loan so a great incentive for them. And I have no problem leaving Chase after this so hopefully it works out. Good luck everyone don't give up keep calling. Squeaky wheel gets the grease...
Both have had good communication and one sent me multiple emails to clarify things so they are def working on it. Can't ask for much more than that. And the other also answered my call first time and walked me through issues with their online protal. So there are def banks working on them. Have no idea if I'll get it but at least this time I have human contact and feel like things are moving. One required me to move my business banking there after loan so a great incentive for them. And I have no problem leaving Chase after this so hopefully it works out. Good luck everyone don't give up keep calling. Squeaky wheel gets the grease...
Posted on 4/22/20 at 4:51 pm to Paul Allen
quote:
Truly a shame that 243 million of 349 million went to publicly traded companies
I don’t think this is correct, but if it’s 243 million out of 349 BILLION, then maybe so. And not that bad.
They definitely should have had a strata system and balanced the incentivized to the banks so that loan size was not an issue.
That said, in the eyes of the government, the larger the loan the more jobs (in theory) are saved. So, it’s just one of those shitty things were the small guys are getting left out.
I’ve posted about ten times on this, but 500 people, even with out combing entities, is NOT a small business. Oh well, fingers crossed we can get ours this time around.
Posted on 4/22/20 at 4:57 pm to tgrbaitn08
LINK
In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, according to Morgan Stanley.
In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, according to Morgan Stanley.
Posted on 4/22/20 at 4:58 pm to TigerDeBaiter
LINK
In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, according to Morgan Stanley.
In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, according to Morgan Stanley.
Posted on 4/22/20 at 4:59 pm to TigerDeBaiter
My bad. I was off by a lot. 
Posted on 4/22/20 at 5:00 pm to Paul Allen
Being as wealthy as you are, it is understandable that you don't decipher the difference between million and billion, but it's a substantial difference.
Posted on 4/22/20 at 5:01 pm to LSU6262
quote:
A lot of banks have no intention on opening PPP application back up
Considering the amount of the "refill" and the amount of apps already at the banks, waiting for the spigot to turn on, this isn't a surprise. I don't the refill is enough to even cover the apps sitting at the banks.
I did however have a client apply with Capital One yesterday. They had decided they didn't want it, but then yesterday had a change of heart. I suggested they look at other banks, but they decided to go with them. About 35K.
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News