Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 72136 times)

Offline zh cohen

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #45 on: April 19, 2020, 12:28:48 AM »
http://www.cnbc.com/amp/2020/04/17/jpmorgan-says-it-has-26-billion-in-small-business-applications-left.html

"Chase has secured more funding for small businesses than anyone else in the industry," spokeswoman Trish Wexler said in a statement.

When I applied they said they were working on application in the order they were received. This kind of confirms that they bumped the larger loans to the front of the line (or the very small ones to the back of the line). I'd be more interested in what percentage of the loans were to companies with 5 or fewer employees.

Quote
About half the loans that JPMorgan made were for less than $140,000, and more than 60% went to companies with fewer than 25 workers, the bank said.

Offline mgarfin

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #46 on: April 19, 2020, 04:44:22 PM »
Amex still accepting applications

https://americanexpresssbappp.force.com/s/login

Offline hvaces42

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #47 on: April 19, 2020, 05:11:36 PM »
Amex still accepting applications

https://americanexpresssbappp.force.com/s/login
So is capital one. There aint no more money so why bother?
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Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #48 on: April 19, 2020, 05:12:34 PM »
So is capital one. There aint no more money so why bother?

So if/when there’s money you’re further ahead on the handout line.
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Offline hvaces42

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #49 on: April 19, 2020, 05:15:38 PM »
So if/when there’s money you’re further ahead on the handout line.
At the rate theyre going and who is actually getting money its pretty much a waste of time. Do you personally know anyone who got money? Anyone here gotten money?
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Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #50 on: April 19, 2020, 05:20:34 PM »
At the rate theyre going and who is actually getting money its pretty much a waste of time. Do you personally know anyone who got money? Anyone here gotten money?

A few people here reported getting money in other threads.
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Offline jackofall

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #51 on: April 19, 2020, 05:27:20 PM »
At the rate theyre going and who is actually getting money its pretty much a waste of time. Do you personally know anyone who got money? Anyone here gotten money?
I know ppl that have. and a lot of it. Key was/is to work with a bank that you have a live rep that can push the app through.

I saw somewhere that Chase didn't get through the first "5" minutes of apps.
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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #52 on: April 19, 2020, 05:34:23 PM »
Amex still accepting applications

https://americanexpresssbappp.force.com/s/login

Not sure they are the best option (unless simultaneously applying with multiple banks). There seem to be reports that chances might be better with small banks.
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Offline zh cohen

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #53 on: April 19, 2020, 05:39:12 PM »
At the rate theyre going and who is actually getting money its pretty much a waste of time. Do you personally know anyone who got money?

Yes, several people. Mostly those who applied through a small local bank that they had a relationship with, but Crossriver got for lots of people.

Offline zh cohen

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #54 on: April 19, 2020, 05:41:36 PM »
(unless simultaneously applying with multiple banks)

Pretty sure you are not allowed to apply at more than one bank (and the application asks).

Offline jackofall

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #55 on: April 19, 2020, 05:46:28 PM »
Yes, several people. Mostly those who applied through a small local bank that they had a relationship with, but Crossriver got for lots of people.
Not sure what to think of CrossRiver. They obviously got some people approved, I wonder how many with no prior relationship. But they completely oversold themselves. They should have never opened themselves up to the public because they had no chance of processing even a  fraction of those applications and ppl relied on them.
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Offline herb

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #56 on: April 19, 2020, 05:51:44 PM »
Not sure what to think of CrossRiver. They obviously got some people approved, I wonder how many with no prior relationship. But they completely oversold themselves. They should have never opened themselves up to the public because they had no chance of processing even a  fraction of those applications and ppl relied on them.
i got through them. no prior relationship

Offline jackofall

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #57 on: April 19, 2020, 05:52:57 PM »
i got through them. no prior relationship
Nice! Lucky
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Offline herb

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #58 on: April 19, 2020, 05:55:02 PM »
Nice! Lucky
siyata d'shmaya i suppose

Offline zh cohen

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #59 on: April 19, 2020, 05:55:06 PM »
i got through them. no prior relationship

Mind sharing how much? I'm wondering if anyone got a small amount ($10-20K range)