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Penn
USA Fan
Jax Beach
Member since Jan 2008
23203 posts

re: Small Business Resourse Thread COVID-19
Just want to say I feel for all my brothers in these threads, our minds are all filled with the same shit, and I hope to see a lot of y’all on the other side of the hill


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20
tigeryat
LSU Fan
God's Country
Member since Oct 2005
2864 posts

re: Small Business Resourse Thread COVID-19
I’m having issues with Capital One and a PPP loan. They will not accept my application and I have two business counts with them. Does anyone know of any other banks accepting applications from non customers? Same issue with Investar and Farmers-Merchants. Thx


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
27264 posts

re: Small Business Resourse Thread COVID-19
I may have a lead for you. I’ll have more info tomorrow.


Tigerpaw123
USA Fan
Louisiana
Member since Mar 2007
14350 posts

re: Small Business Resourse Thread COVID-19
Chris at Cardinal capital has been great, has solid answers, he knows SBA


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10
tigeryat
LSU Fan
God's Country
Member since Oct 2005
2864 posts

re: Small Business Resourse Thread COVID-19
Thank you


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
27264 posts

re: Small Business Resourse Thread COVID-19


This post was edited on 4/10 at 3:16 pm


SaintNation
New Orleans Saints Fan
Member since Dec 2008
1412 posts

re: Small Business Resourse Thread COVID-19
If your an independent contractor but don’t have a “business account” with chase bank then you can apply for the PPP with them. It will only allow you to pull it up with a “business account”. I can’t be the only independent contractor that gets paid directly into my personal account.
This post was edited on 4/12 at 5:54 pm


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
27264 posts

re: Small Business Resourse Thread COVID-19
If you'd like shoot me an email and I'll put you in touch with my guy.

The big banks seem to be taking care of the big clients.


24nights
LSU Fan
Louisiana
Member since Apr 2012
2551 posts

re: Small Business Resourse Thread COVID-19
I just got my ppp loan number! Local bank, S’port.


SaintNation
New Orleans Saints Fan
Member since Dec 2008
1412 posts

re: Small Business Resourse Thread COVID-19
Nice,
Good for you. I still can’t even apply bc My 1099/ monthly paycheck goes into a personal bank account. Chase bank can’t even give me any answer.


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10
TD SponsorTD Fan
USA
Member since 2001
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Sho Nuff
New Orleans Saints Fan
Hawaii
Member since Feb 2009
10246 posts

re: Small Business Resourse Thread COVID-19
quote:

It will only allow you to pull it up with a “business account”. I can’t be the only independent contractor that gets paid directly into my personal account.

Set up a business account. You really should have it that way.


SaintNation
New Orleans Saints Fan
Member since Dec 2008
1412 posts

re: Small Business Resourse Thread COVID-19
Is there any bank that anyone knows that will allow me to put in an application for a PP loan even though you don’t have a relationship with them? Thank you


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
27264 posts

re: Small Business Resourse Thread COVID-19
Send me an email at bill@ccillcva.com and I'll put you in touch with what you're looking for.


SaintNation
New Orleans Saints Fan
Member since Dec 2008
1412 posts

re: Small Business Resourse Thread COVID-19
(no message)
This post was edited on 4/13 at 12:56 pm


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
27264 posts

re: Small Business Resourse Thread COVID-19
Replied 4 minutes after your ?? post.



Penn
USA Fan
Jax Beach
Member since Jan 2008
23203 posts

re: Small Business Resourse Thread COVID-19
My local business journal just put this out, wondering how true it is


Economic Injury Disaster Loans (EIDL) will be rationed to $15,000 per applicant, according to the US Chamber of Commerce.


SaintNation
New Orleans Saints Fan
Member since Dec 2008
1412 posts

re: Small Business Resourse Thread COVID-19
Got it thank you


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00
cmlsu
LSU Fan
Baton Rouge, LA
Member since Aug 2011
492 posts

re: Small Business Resourse Thread COVID-19
quote:

Economic Injury Disaster Loans (EIDL) will be rationed to $15,000 per applicant, according to the US Chamber of Commerce.


I heard rumors of this several days ago but wasn’t able to confirm. So much misinformation floating around that the only thing I’m sure of is that this is a cluster.


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
27264 posts

re: Small Business Resourse Thread COVID-19
I'll bet that $15000 loan is on top of the grant. It would make sense because a loan under $25K requires no collateral and no personal guarantee. I'm thinking that they're going to do what they're doing with the PPP loans and rubber stamp them. Gut feeling only because fully underwriting the number of EIDL loans in-house for the SBA that they are going to receive is going to be a monumental effort and will take forever.


shawnlsu
LSU Fan
Member since Nov 2011
17317 posts

re: Small Business Resourse Thread COVID-19
Just got off the phone with my uncle who has been a CPA for many years talking about just this.
The shear # of loan applications is mind boggling.
I still haven't been funded for my PPP and I'm perfectly good with a $25K EIDL, forgiven or not.


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