- 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: SBA and PPP
Posted on 4/7/20 at 8:40 pm to gumbopacdeeznuts
Posted on 4/7/20 at 8:40 pm to gumbopacdeeznuts
quote:
So much incorrect info in this thread
We’re listening. Please explain. The floor is yours.
We are all trying to figure this out.
1
Posted on 4/7/20 at 8:41 pm to tgrbaitn08
I don’t know any of you but my heart hurts for all business owners messed up by this crap.
I hope that you all get the help that y’all need and are able to make it through this.
I hope that you all get the help that y’all need and are able to make it through this.
Posted on 4/7/20 at 8:44 pm to tiger91
It’s okay, gumbopacdeeznuts is going to clear up all the incorrect information
This post was edited on 4/7/20 at 8:45 pm
Posted on 4/7/20 at 8:49 pm to tgrbaitn08
Lol
I’m a 1099 employee still working from home. Hours are cut and I thought about filing but I’m grateful to have half of my income.
This sounds like a nightmare for people who really need it.
I’m a 1099 employee still working from home. Hours are cut and I thought about filing but I’m grateful to have half of my income.
This sounds like a nightmare for people who really need it.
Posted on 4/7/20 at 8:53 pm to tiger91
Fill it out. 1099 employees can start applying on the 10th the money is already allocated so you don’t have anything to lose. It’s your tax dollars. At the very worse you’ll have 2 years to pay it back at 1%
Posted on 4/8/20 at 5:34 am to gumbopacdeeznuts
quote:
So much incorrect info in this thread
Posts like this are worst than the posts they're calling out. Either correct the information or stfu.
Posted on 4/8/20 at 8:38 am to CajunInFL
Yes, there is a PPP app provided by the SBA, but each bank has there own procedures. Some are using the SBA app, while others have there own.
FWIW, if your CU wanted to assist customers & participate in the PPP program, they can receive SBA approval very quickly. Sounds like yours wants to sit it out. Banks earn 5% on smaller loans that are guaranteed by the SBA. You would think that would jump in to assist their customers. I know some that have done just that.
FWIW, if your CU wanted to assist customers & participate in the PPP program, they can receive SBA approval very quickly. Sounds like yours wants to sit it out. Banks earn 5% on smaller loans that are guaranteed by the SBA. You would think that would jump in to assist their customers. I know some that have done just that.
Posted on 4/8/20 at 4:57 pm to Brummy
I am furious that capital one has not yet added the application link online yet. All of our accounts are with them. At this point am I better off submitting through another institution?
Posted on 4/8/20 at 5:29 pm to Spookz
Most banks are accepting only their business customers. Looks like the initial $350B has been completely expended, so additional funding is expected, another $250B.
We have many Cap One clients in the same position, so you are certainly not alone. Their election to sit this one out is going to cost them in my opinion.
Shoot me an email at your convenience.
We have many Cap One clients in the same position, so you are certainly not alone. Their election to sit this one out is going to cost them in my opinion.
Shoot me an email at your convenience.
Posted on 4/15/20 at 6:38 pm to tigernnola
40 year relarionship with chase. Filled out stupid app on Saturday at 111pm at launch. MONDAY pleaded with rep to take my info and truly begin process and he obliged. Made calls all week long last week to follow up with rep without any updates. Made call to his manager who moved into into Ethan line Thursday. Called her repeatedly since. Today spoke to evp of chase smb. I was shut out. 350 billion gone. Chase only wrote 10 billion worth. 40 year relationship with Chase. I cannot be more angry if I tried. Completely deceived there own custoners. Even wells Fargo was honest about there lack of participation. Chase strung me along. I have to fire 12 employees tomorrow. I am sick to my stomach. I don't kbow how Diamond sleeps at night.
Posted on 4/15/20 at 6:50 pm to Taxmeless
I have accounts at chase and capital one. I’ve been in contact with a loan officer at chase but I just keep hearing “we’re working on it” and it’s “being reviewed”. Give me a fricking break. It’s not that complicated. At this point I doubt I’ll get funded.
I cannot wait until this blows over to walk in a branch withdraw all my money and tell them to frick off on the way out. Especially capital one who hasn’t even tried. Seriously frick them.
I cannot wait until this blows over to walk in a branch withdraw all my money and tell them to frick off on the way out. Especially capital one who hasn’t even tried. Seriously frick them.
Posted on 4/15/20 at 7:11 pm to TigerDeBaiter
If you're a business owner and chase is leaving you completely stranded, you really have no other choice but to move away from them as soon as you are realistically able to. I realize this is a crazy time and that everyone is applying but you should really consider developing a relationship with a community level bank. Do you research and find a local bank that may charge just slightly higher fees but they will be there with you through thick and thin.
Posted on 4/15/20 at 7:13 pm to TigerDeBaiter
Some locals are taking on new clients provided you do business with them in the future. I can point you towards a few.
Posted on 4/15/20 at 7:22 pm to PrettyLights
Great observation. I’m fleeing from PNC. They didn’t do shite for me.
Posted on 4/15/20 at 7:25 pm to VABuckeye
At what point are you guaranteed a portion of the $350B. Is that when you get an SBA loan number, when you sign the loan docs or not until you are actually funded?
Posted on 4/15/20 at 7:26 pm to BilJ
I JUST recieved an email from Hancock/Whitney, who I bank with both personally and for my business. It states that it is a "pre-closing" notification through their express bank loan branch. It seems that I got funded at the last possible moment.
Will get more info from my local bank tomorrow.
I've said it but I'll say it again, the Prairieville branch of Hancock worked their asses off on my small PPP loan, and I'm sure they did for others as well.
ETA: It did list a SBA loan # on the email
Will get more info from my local bank tomorrow.
I've said it but I'll say it again, the Prairieville branch of Hancock worked their asses off on my small PPP loan, and I'm sure they did for others as well.
ETA: It did list a SBA loan # on the email
This post was edited on 4/15/20 at 8:01 pm
Posted on 4/15/20 at 7:29 pm to VABuckeye
I worked with a fantastic local bank in your area for years but they are based in Maryland. Old Line Bank, they had good lending horsepower and worked with us through the recession. Great people over there and I highly recommend them. They are the people you can have face to face discussions with and work something out. Hard to find that in today's world.
Edit - Looks like OLB was literally just acquired by Wesco Bank in November '19 so there goes that. Either way, I highly recommend getting in with a local bank if you can.
Edit - Looks like OLB was literally just acquired by Wesco Bank in November '19 so there goes that. Either way, I highly recommend getting in with a local bank if you can.
This post was edited on 4/15/20 at 7:36 pm
Posted on 4/15/20 at 9:09 pm to PrettyLights
quote:
If you're a business owner and chase is leaving you completely stranded, you really have no other choice but to move away from them as soon as you are realistically able to. I realize this is a crazy time and that everyone is applying but you should really consider developing a relationship with a community level bank. Do you research and find a local bank that may charge just slightly higher fees but they will be there with you through thick and thin.
A fully intend to do so, but my concern now is that a may (or may not- who the hell knows) have a pending application with the SBA and that will just complicate things. Idk.
Posted on 4/16/20 at 6:22 am to mastersoftext
Invoices gtfo tiger poo
Page 15 of 15
Popular
Back to top
Follow TigerDroppings for LSU Football News