April 21, 2020 Tuesday, April 21st: PPP 2.0. Great Comments from PPP Facebook Group
PPP just got another $250B – do not wait. Apply immediately.
Below are some very interesting and insightful comments made on the following PPP/EIDL Facebook groups in the last 24 hours.
Divvy/Cross River PPP funded into my bank this morning. 12k as promised. After all of the applications, the paperwork, the frustration with them running out of funds, and after checking my account several times a day for weeks this feels like a huge win! Huge shout out to Divvy/Cross-River. They were so easy and all done in 10 days. My biz bank Wells Fargo – well lets just say we are closing our accounts.
Woke up this morning full ppp funds deposited and eidl grant advance of 3k deposited . God is good
Single employee LLC no payroll or 1099 l. Went thru getdivvy/cross river bank for ppp. And my eidl application was done 3/31-4/1 cant remember exact date
Got a response from BBT/Truist….didn’t think they were moving forward with funding until new Cares package came through.
SQUARE is now accepting applications. Seems like a better option than going through traditional banks and Paypal. I briefly looked into the application, seems really easy and straightforward compared to other banks. I’ve signed up with Citi, but they are giving me a headache and robotic response. Nothing approved through them and they are claiming my name has a “credit freeze” which I don’t.
If anyone did not get a loan the first round of PPP, try Kabbage. I applied with them the week after the program started and I signed final papers last week. Funds deposited this morning. I tried to apply with Wells Fargo and it was ridiculous so I just starting sending in applications.
Just got Approvals from Lendio, for my company, and at the same time my wife’s company did too, a few friends that applied there also all got approvals in the past 30 minutes…. No other details, it just says that it’s been approved.
The senate just mentioned on the floor that the next bill coming in a few weeks will involve offering leniency on the 8 week time frame to spend the PPP funds. They realize businesses are having a difficult time planning when they aren’t even sure when they’ll be allowed to reopen. This would be great!
Hey guys I’m like many of you guys waiting for banks to approved my PPP loan. Chase is my bank. But on a side note, try applying for PayPal. I applied yesterday for the hell of it and hours later got an approval via docu sign. Signed agreement and now waiting for confirmation. Today like many others chase sent a generic letter out to me also.
Applied on Thursday for PPP loan through PayPal. Finished app no email no interaction at all! Just read that one guy applied last night and got focusing papers this morning!? Did I do something wrong!! I’m desperate I need some guidance. I’m pregnant and have a son I’m really over whelmed and funds are getting low. First time business owner blues
I personally had a banker tell me that they would get my loan done if it were over $100,000. So yes big businesses were who banks put preference first. More money for them. This was when PPP first opened up and pot was full.
While some of you stress out, here is a link to check when your payment is coming for the stimulus check. ($1200 per person)
PPP Loan officer explained to me if you take the ppp you can’t get unemployment . I think a certain amount is supposed to be used to pay you & your employees & if you get unemployment it’s like being paid twice. Just thought I’d share