SBA PPP and EIDL Small Business Loans (some money is forgivable)

[aygart]

When did you apply?

Tuesday

[menachemd1]

.

got any help from your CPC banker ?

[zh cohen]

Tuesday

Interesting. I applied before Pesach, and it still says "Awaiting SBA approval"

[AsherO]

got any help from your CPC banker ?

I doubt they could do much unless Chase has an existing process for this. Chase is too big and CPC is too common for the bankers to have any real pull for stuff like this, unless they have a process or someone to talk to.

[aygart]

got any help from your CPC banker ?

My banker told me that they expressly disallowed bankers working on their own client's applications.

[cgr]

If you applied to Kabbage for PPP and had a "Not Eligible" determination this morning, check again.
They've updated thousands of applications to "Under Review" or "Submitted to SBA".

Ridiculous. Was so disappointed this morning after spending hours on an non-profits application, and now heard via the grapevine to check again and viola! Submitted to SBA!

[Mordyk]

If you applied to Kabbage for PPP and had a "Not Eligible" determination this morning, check again.
They've updated thousands of applications to "Under Review" or "Submitted to SBA".

Ridiculous. Was so disappointed this morning after spending hours on an non-profits application, and now heard via the grapevine to check again and viola! Submitted to SBA!

how long until kabbage response from SBA?

[Rivky]

Any thoughts on when EIDL round 2 goes live?

And are we limited to one EIDL per SSN? What if I have a few entities?

Also wondering...

[ilherman]

If you applied to Kabbage for PPP and had a "Not Eligible" determination this morning, check again.
They've updated thousands of applications to "Under Review" or "Submitted to SBA".

Ridiculous. Was so disappointed this morning after spending hours on an non-profits application, and now heard via the grapevine to check again and viola! Submitted to SBA!

submitted when?

[cgr]

submitted when?

Friday.

[TBD]

Banker tole me that SBA site is constantly crashing.

[AsherO]

Banker tole me that SBA site is constantly crashing.

The big banks are submitting via a site? I’d think it would be via API or something.

[zh cohen]

In order to ensure an orderly processing of applications from banks across the country, the SBA has “throttled” submissions for all banks (regardless of size) to a maximum of 350 applications per hour per bank. Because all banks are experiencing the same issue, we expect that funds will remain available for multiple days of submissions

Once again it seems like small local banks are the way to go.

[Joe4007]

In order to ensure an orderly processing of applications from banks across the country, the SBA has “throttled” submissions for all banks (regardless of size) to a maximum of 350 applications per hour per bank. Because all banks are experiencing the same issue, we expect that funds will remain available for multiple days of submissions

Source?

[AsherO]

Once again it seems like small local banks are the way to go.

I said this upthread. Any recommendations?

[zh cohen]

I said this upthread. Any recommendations?

Nope, I applied with Chase and Kabbage (CrossRiver).

Anyone here have any friends that work at a small bank that might be open to some more business?

[menachemd1]

Once again it seems like small local banks are the way to go.

I heard that this time around the small banks had to enter everything manually (big banks are pre filled)it took over an hour for each application to process.
Plus they had other issues like major crashing because the big banks were uploading heavy files which the website wasn't able to handle

[AsherO]

I heard that this time around the small banks had to enter everything manually (big banks are pre filled)it took over an hour for each application to process.
Plus they had other issues like major crashing because the big banks were uploading heavy files which the website wasn't able to handle

The sweet spot would be to find the most underutilized bank that’s uploading in batches.

[TBD]

http://www.Dime.com/ppp

[ilherman]

http://www.Dime.com/ppp

they accepting applications?