- 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
re: possible to check ppp status??
Posted on 4/13/20 at 3:52 pm to VABuckeye
Posted on 4/13/20 at 3:52 pm to VABuckeye
I guess we got lucky from reading some of these other situations. We had a portal to upload all required docs and could check the status anytime. Was never in the dark about any of it, thankfully.
0
Posted on 4/13/20 at 3:52 pm to Smoke7024
GCB&T told me this morning via email that mine is in queue with the underwriter and they'll send me Etran# once underwriting has approved.
I suppose that's good.
I suppose that's good.
Posted on 4/13/20 at 3:55 pm to Golfer
They must be underwriting first because the first thing they should do is get the Etran and get your SBA loan number.
Posted on 4/13/20 at 4:03 pm to VABuckeye
WOW.... I'm just curious. If one bank turns you down, can you apply at another?
Posted on 4/13/20 at 4:06 pm to VABuckeye
Welp. 
Posted on 4/13/20 at 4:29 pm to VABuckeye
Did they fund same-day after you did the docusign? Or next day I assume.
Posted on 4/13/20 at 4:34 pm to Waterloo
They're funding today. We setup an account with them for the documentation of the use of the loan. We're also going to move a fair amount of our banking to them. I value relationships in business and when someone steps up and does me a solid I remember it and reward it.
Posted on 4/13/20 at 4:41 pm to Jjdoc
quote:
WOW.... I'm just curious. If one bank turns you down, can you apply at another?
Just bumping again
Posted on 4/13/20 at 4:50 pm to Jjdoc
I don't see why not unless they'r registering the denail with SBA. The criteria seem to be a bit vague so other banks may look at it a little differently.
Posted on 4/13/20 at 5:24 pm to Golfer
quote:GCB must be underwriting PPP loans as if they were conventional loans.
GCB&T told me this morning via email that mine is in queue with the underwriter and they'll send me Etran# once underwriting has approved.
This post was edited on 4/13/20 at 5:47 pm
Posted on 4/13/20 at 5:38 pm to JohnWicksDawg
Oh Jesus. That's bad.
They have a loan that's guaranteed. They only have to charge 1% interest and under $350k they get 5% in fees. Stamp the goddamn loans and hand them out. It's free money.
They have a loan that's guaranteed. They only have to charge 1% interest and under $350k they get 5% in fees. Stamp the goddamn loans and hand them out. It's free money.
Posted on 4/13/20 at 6:27 pm to VABuckeye
I know this has been asked in the many threads about PPP but haven’t seen an answer?
I have a few employees making more on unemployment that I pay them. I’m expecting according to my banker to sign and have the loan money Wednesday. If some of them refuse to come back, can I just hire anyone to take their place on the payroll?
I know two things, one usually I would get a latter from the state verifying their unemployment claim. Not sure the follow ups will happen in this case. Second I know with this program there are no definitive answers but hoping there was a ballpark to this answer.
I have a few employees making more on unemployment that I pay them. I’m expecting according to my banker to sign and have the loan money Wednesday. If some of them refuse to come back, can I just hire anyone to take their place on the payroll?
I know two things, one usually I would get a latter from the state verifying their unemployment claim. Not sure the follow ups will happen in this case. Second I know with this program there are no definitive answers but hoping there was a ballpark to this answer.
Posted on 4/13/20 at 6:29 pm to JohnWicksDawg
quote:
GCB must be underwriting PPP loans as if they were conventional loans.
I guess I should have clarified. They may be describing underwriting as not the traditional process but a vetting of the application.
Posted on 4/13/20 at 7:25 pm to Sheepdog1833
quote:
I have a few employees making more on unemployment that I pay them. I’m expecting according to my banker to sign and have the loan money Wednesday. If some of them refuse to come back, can I just hire anyone to take their place on the payroll?
I know two things, one usually I would get a latter from the state verifying their unemployment claim
a. You can hire anyone.
b. If you're in Louisiana, as a general rule, your former employees will be ineligible to draw unemployment benefits if they refuse suitable work - such as an offer by you to rehire them.
You should get a form letter from the state asking you to verify the conditions under which they left your employ. If they refuse to work, you just state that on the form and return it.
Posted on 4/13/20 at 7:46 pm to VABuckeye
quote:
VABuckeye
Do you know what day the SBA pulled your credit?
I just looked and they pulled mine Saturday.
Posted on 4/13/20 at 7:58 pm to shawnlsu
I haven’t looked. That’s for the EIDL grant and loan?
Posted on 4/13/20 at 8:09 pm to VABuckeye
I have no idea which one. I thought that the bank would pull for and verify the PPP and that the SBA would do a separate pull for the EIDL since that was applied for with them directly.
I could be wrong, but thats my logic. FWIW
I could be wrong, but thats my logic. FWIW
Posted on 4/13/20 at 8:19 pm to shawnlsu
Just want to say. I’ve enjoyed our interaction in this and the other threads on the board about PPP, EIDL, etc. that goes for a lot of you guys. What a journey this is and I feel like I’ve made friends among my peers in all this. Maybe some good comes out of the shite going on in the world right now. End of sappy rant.
My wife laughs at me when I tell her I referred another small business owner to that little bank in Texas but I feel like I’m doing some good in all the crap that’s going on.
My wife laughs at me when I tell her I referred another small business owner to that little bank in Texas but I feel like I’m doing some good in all the crap that’s going on.
Posted on 4/13/20 at 8:39 pm to VABuckeye
it really is a strange time and yes, I've also made some connections that I would have never made otherwise.
Posted on 4/14/20 at 8:02 am to shawnlsu
Some of our clients who applied on the first Friday 4/3/20, now have funds in their accounts so the program now seems to be moving along.
Page 4 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News