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Started By
Message
re: SBA and PPP
Posted on 4/7/20 at 11:58 am to McNeeseLSU
Posted on 4/7/20 at 11:58 am to McNeeseLSU
quote:
Is anyone else having an issue applying online through Chase?
I just got finished applying via Chase. I was using firefox at first and it locked up. I did it on Chrome without issue.
For the ones that used chase, did you get a conformation email after uploading? It said it was uploaded and they will communicate via email but I would have thought I would get a conformation email after submitting
Edit I got the email.
This post was edited on 4/7/20 at 12:50 pm
1
Posted on 4/7/20 at 1:08 pm to Murray
quote:
Look. I’m sure you mean well but if your business wasn’t severely impacted and will not be, and you apply for a loan anyway, then you’re part of the problem with this loan process.
Good people that are suffering are having a hell of a time even getting an application in and part of the issue is the potential fraud that is coming.
The sad thing is, the same posters here that are doing that are probably the first in line to rant about welfare abuse. Pot meet kettle.
all true
but how in the shite did they not see this coming? They left themselves wide open for abuse on this.
Posted on 4/7/20 at 1:41 pm to LSUFanHouston
quote:
quote]LINK ] # 15
Page not found. Figures, they probably changed it again
that’s why I was advised to try for all of it and if I need to revise it I already have everything ready to submit. As for including contractors, from the wording on the app it did mention them when I filled it out and Gusto also included them last week, then took them off, then added payroll tax. It’s been a clusterfrick and no one seems to have definitive answers so I just sent all of it.
I’m starting to think we will all be back to work 100% before anyone sees any money.
Posted on 4/7/20 at 2:28 pm to SuddenJerk
Posted on 4/7/20 at 2:45 pm to LSUFanHouston
Yep that worked. We’ll see what happens.
Posted on 4/7/20 at 2:45 pm to LSUFanHouston
Treasury is asking for another $250 billion for PPP, so hopefully more businesses in need can get in on this. LINK
Posted on 4/7/20 at 4:35 pm to BottomlandBrew
Just got word that our PPP loan has been approved 
Posted on 4/7/20 at 4:42 pm to LigerFan
Congrats, tell us the time details and from who
Posted on 4/7/20 at 4:52 pm to Penn
I finally just got my worksheet, 941 form, articles and completed app from my CPA and just uploaded to my banks portal.
He said he's dealing with close to 600 clients and 9 banks....said that Chase was the hardest and most stubborn bank to work with.
Said my bank was the easiest of them all that he's dealing with,(small community bank) so that made me feel good.
I ended up qualifying for a 5 figure number so I'm not going to complain.
I guess I just sit and wait now
Still no word on the $10k advance
He said he's dealing with close to 600 clients and 9 banks....said that Chase was the hardest and most stubborn bank to work with.
Said my bank was the easiest of them all that he's dealing with,(small community bank) so that made me feel good.
I ended up qualifying for a 5 figure number so I'm not going to complain.
I guess I just sit and wait now
Still no word on the $10k advance
Posted on 4/7/20 at 4:53 pm to LigerFan
quote:
Just got word that our PPP loan has been approved
by your bank or the SBA?
Posted on 4/7/20 at 5:02 pm to tgrbaitn08
The approval comes from the bank. All the SBA does is register the loan and issue a loan number.
Posted on 4/7/20 at 5:04 pm to VABuckeye
quote:
The approval comes from the bank. All the SBA does is register the loan and issue a loan number.
good deal...then I should hear something back pretty quick
Posted on 4/7/20 at 5:04 pm to NOLAGT
If anyone is going through regions let me know how it goes and if you get pushed through. I uploaded all my documents yesterday to their cares portal, and haven’t heard a peep. Applying for a tad under $100,000.00. I wonder if these banks are picking the big loans first so they get the larger origination fee.
Posted on 4/7/20 at 7:24 pm to Catchfalaya
quote:
I wonder if these banks are picking the big loans first so they get the larger origination fee.
If you were allotted 300 million to loan would you rather make 10 loans for 30M to big companies that are highly likely to get it forgiven or definitely pay back the remainder?
Or would you make 300 loans for 1 million?
I’m not judging. Just being a realist.
Posted on 4/7/20 at 7:46 pm to Murray
If that’s there strategy then a lot of mom and pop/small franchises are not getting a PPP loan anytime soon.
Posted on 4/7/20 at 7:56 pm to Catchfalaya
quote:
If that’s there strategy then a lot of mom and pop/small franchises are not getting a PPP loan anytime soon.
I agree. On the flip side, this is a great opportunity to grab new customers from other banks.
Posted on 4/7/20 at 8:07 pm to Murray
Small community banks aren’t making 30m loans. They making very few 1mm loans.
Posted on 4/7/20 at 8:15 pm to tgrbaitn08
quote:
Small community banks aren’t making 30m loans. They making very few 1mm loans.
They’re not allotted close to 300 million either.
I think the small community banks will come out of this like champs and I’m good with that.
Posted on 4/7/20 at 8:19 pm to Murray
I agree 100%
Like I posted earlier. My CPA said out of the 9 banks he’s working on Chase is the toughest and the smaller banks are the easiest
Like I posted earlier. My CPA said out of the 9 banks he’s working on Chase is the toughest and the smaller banks are the easiest
Posted on 4/7/20 at 8:30 pm to tgrbaitn08
So much incorrect info in this thread
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