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Chase -PPP

Posted on 4/14/20 at 9:20 am
Posted by Penn
Jax Beach
Member since Jan 2008
23448 posts
Posted on 4/14/20 at 9:20 am
Just got a denial from Chase that says

Federal law prohibits us from providing the loan requested


Was only asking for payroll, don’t know how it’s even possible.

VA, can I shoot you an email?
Posted by TigerDeBaiter
Member since Dec 2010
10267 posts
Posted on 4/14/20 at 9:24 am to
What federal law??
Posted by PearlJam
NotBeardEaves
Member since Aug 2014
13908 posts
Posted on 4/14/20 at 9:25 am to
Did you answer yes to any of the disqualifier questions on the application?

Are you a felon or under indictment?

Currently in bankruptcy?
Posted by Penn
Jax Beach
Member since Jan 2008
23448 posts
Posted on 4/14/20 at 9:25 am to
Nope, none of that.
Posted by Penn
Jax Beach
Member since Jan 2008
23448 posts
Posted on 4/14/20 at 9:26 am to
They did not say
Posted by PearlJam
NotBeardEaves
Member since Aug 2014
13908 posts
Posted on 4/14/20 at 9:27 am to
Has your business ever received lending from chase before?
Posted by doya2
Charenton
Member since Jan 2005
7932 posts
Posted on 4/14/20 at 9:36 am to
Did you fill out more than one application?
Owe any back payroll taxes?
Did you ever receive a confirmation #?
This post was edited on 4/14/20 at 9:37 am
Posted by Penn
Jax Beach
Member since Jan 2008
23448 posts
Posted on 4/14/20 at 9:50 am to
No, just all my business accounts
Posted by shawnlsu
Member since Nov 2011
23682 posts
Posted on 4/14/20 at 9:52 am to
Was that a Chase denial or a SBA denial?
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37110 posts
Posted on 4/14/20 at 4:38 pm to
Could you copy/paste the e-mail here?
Posted by tigernnola
NOLA
Member since Sep 2016
3589 posts
Posted on 4/14/20 at 5:54 pm to
Something doesn’t sound right. the Fed set the parameters. If you have solid payroll records, 941 & 940 forms, then they are starting to pick & choose. Gurpessong they allocated $x and choosing who they allocate.

Shoot me an email, I may have a source for you with funding available.
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