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nolabnkr
| Favorite team: | LSU  |
| Location: | La |
| Biography: | |
| Interests: | |
| Occupation: | banker |
| Number of Posts: | 17 |
| Registered on: | 4/10/2020 |
| Online Status: | Not Online |
Recent Posts
Message
re: Hancock Whitney Customers - PPP funding
Posted by nolabnkr on 4/30/20 at 11:18 am
HW did the same thing, funds reserved for all apps in the system. Unfortunate that your banker did not relay this to you if your app was ready for sba submission...
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re: Hancock Whitney Customers - PPP funding
Posted by nolabnkr on 4/28/20 at 12:39 pm
SBA has limited 100 apps per hour, this is slowing things down tremendously. We had planned on having all of our apps in by this time today, maybe a bit later depending on eTran system shut downs. Now, looking at several days...
re: Hancock Whitney Customers - PPP funding
Posted by nolabnkr on 4/23/20 at 5:45 pm
First app to get processed will go through, next will get an error and state that an eTran number has already been assigned...
re: Hancock Whitney Customers - PPP funding
Posted by nolabnkr on 4/23/20 at 8:17 am
The apps will be pushed through to eTran electronically, starting from the oldest apps in the queue. We have several people that will be pushing these through systematically and in order. App 7000 will not go before app 5000 and so forth. ...
re: Hancock Whitney Customers - PPP funding
Posted by nolabnkr on 4/23/20 at 7:51 am
6000+ apps waiting in the queue. Primary focus on the ones that were in that did not make the first round. New apps are on hold until we can successfully get the ones in process done....
re: Hancock Whitney Customers - PPP funding
Posted by nolabnkr on 4/23/20 at 7:48 am
Numerated is the platform being used to process the PPP loans. Not sure if your banker has given you an app#, but this is different from the SBA number that would be assigned once given the green light from SBA....
re: Hancock Whitney Customers - PPP funding
Posted by nolabnkr on 4/22/20 at 1:44 pm
HW underwriter here, 4800 loans were processed in the first round, of all sizes. While that may not be a lot for a large bank, it was overwhelming for a system and staff of a bank of much smaller size. New systems have been implemented and the greater volume is now possible. We have been working non...
re: Didn’t get PPP, what now?
Posted by nolabnkr on 4/17/20 at 12:24 pm
Most of the bankers and underwriters are salary, so no overtime. Banks may be getting fees from the SBA but the bankers are not earning a dime. Many 12-13 hour days, plus throw in a couple 20-21 hour days, no extra money. Side note: while it has slowed a bit, we are doing other deals as well....
re: Didn’t get PPP, what now?
Posted by nolabnkr on 4/17/20 at 12:17 pm
You would be surprised to see how many loan guarantees are denied due to the smallest calculation error. It happens often....
re: Didn’t get PPP, what now?
Posted by nolabnkr on 4/17/20 at 12:15 pm
Yep, we verified loan amounts via the payroll docs, etc. We knew that the words "free money" were being thrown around like crazy and wanted to make that customers were not stuck for calculating their loan amounts incorrectly.
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re: The SBA System Has Ceased Taking Applications for PPP
Posted by nolabnkr on 4/16/20 at 4:30 pm
We are glad we have been able to help and we hate that everyone was not able to get funded. Hoping the approval goes in for more, we have all that were left queued up and ready to go....
re: The SBA System Has Ceased Taking Applications for PPP
Posted by nolabnkr on 4/16/20 at 4:24 pm
Awesome!Glad to hear it was done. But man everyone assumes bankers are men :lol:...
re: The SBA System Has Ceased Taking Applications for PPP
Posted by nolabnkr on 4/16/20 at 4:18 pm
There have been some issues with docusign that they are trying to work through now. We ran apps until the money ran out today. If you have an SBA # you will get funded. May be regular bank loan docs if they can't get the errors in docusign corrected.
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re: PPP running out of Money?
Posted by nolabnkr on 4/16/20 at 1:02 am
Not the case yet, we are still processing and getting SBA numbers as we speak...
re: PPP Allocation Almost Fully Tapped
Posted by nolabnkr on 4/14/20 at 5:34 pm
As an UW for HW, we have been working day and night to get these things done. We have approved loans as small as $4900 up to $3.1MM
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re: possible to check ppp status??
Posted by nolabnkr on 4/10/20 at 3:22 pm
I am an underwriter for a regional bank. We have processed over 2000 apps but SBA approval is slow as the system crashes often....
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