Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 60091 times)

Offline Shua

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #930 on: May 07, 2020, 11:58:03 AM »
Zoom conference given by Roth and Co and with opening statements by someone in Aguda.

One of the topics is tuition and parsonage.

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Offline SR21

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #931 on: May 07, 2020, 12:02:57 PM »
Thanks AsherO. That might make sense as well.

Offline zh cohen

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #932 on: May 07, 2020, 12:40:12 PM »
Did anyone received email notification as "Exceeded SBA application program limit" from Chase? This mean my EIN under review or process with SBA thru different lender or has been approved with different lender?

I got the same email. I had already been approved by a different bank.

It might mean Chase maxxed their allowance, I think itís 10% of total PPP funds.

As of 5/1 the top lender had only  4.6% of the funds. (Doesn't say which bank that was)

Offline ilherman

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #933 on: May 07, 2020, 02:29:14 PM »
Its 10 days since Dime received SBA approval, still no mention of funding.
Similar situation. Doesn't sound right.. Has anyone been funded by them yet?
You can say what you think when you think what you say.

Offline mgarfin

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #934 on: May 07, 2020, 05:58:52 PM »
got the same email. frustrated that my accountant told me early on in the process not to apply (when open enrollment was avail the first time around)

Did you get PPP?

If you did you didn't loss anything

Offline Abc1234561

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #935 on: May 07, 2020, 08:49:06 PM »
Latest from dime:

We are currently in the process of reviewing daily all the applications submitted and approved by the SBA. There were over 2300 applications & I am sure you understand it is a process that will take more than a few days.
Once I have been notified that your application has cleared review, I will inform you immediately.
While I understand your concern kindly bear with us while we complete out reviews

Offline yitz1000

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #936 on: May 07, 2020, 08:55:53 PM »
Bluevine clearly had the most automated process here. Somehow they processed applications from apply all the way through to deposit in record time.

Online thebudgetdeals

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #937 on: May 07, 2020, 10:00:48 PM »
Did you get PPP?

If you did you didn't loss anything
Except those who want to receive a loan with low interest rate

Online thebudgetdeals

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #938 on: May 07, 2020, 10:01:39 PM »
Latest from dime:

We are currently in the process of reviewing daily all the applications submitted and approved by the SBA. There were over 2300 applications & I am sure you understand it is a process that will take more than a few days.
Once I have been notified that your application has cleared review, I will inform you immediately.
While I understand your concern kindly bear with us while we complete out reviews
But why didnt we hear still from a even one funding???????????? :'(

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #939 on: May 07, 2020, 10:24:54 PM »
Has anyone come across any published guidelines for Schedule C forgiveness if the business was a) only in operation for a part of 2019 or b) operational only in 2020?
My assumption would be that the 8/52 rule would not apply to them and they'd be able to use 8/weeks in operation- but would love to see something official. So far my search has yielded no results.

Offline SR21

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #940 on: May 07, 2020, 10:35:19 PM »
Try Bluevine. My loan got denied from Chase after waited since 4/26. Today I applied thru Bluevine around 3.45pm by 4.30pm I got approved from SBA and signed the loan documents via docu sign, now awaiting for the fund to arrive my checking account. Amazing experience with bluevine.

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #941 on: May 08, 2020, 12:08:29 AM »
Try Bluevine. My loan got denied from Chase after waited since 4/26. Today I applied thru Bluevine around 3.45pm by 4.30pm I got approved from SBA and signed the loan documents via docu sign, now awaiting for the fund to arrive my checking account. Amazing experience with bluevine.

Whoa! I applied with BlueVine last week, still waiting...
My barber needs your support, heís a real sweetheart.

https://www.gofundme.com/f/save-our-barber-shop

Online thebudgetdeals

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #942 on: May 08, 2020, 12:10:22 AM »
Whoa! I applied with BlueVine last week, still waiting...
If you have an SBA number from Dime you definitely won't get approved from Bluevine

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #943 on: May 08, 2020, 02:05:10 AM »
I know someone who got approved and funded by Paypal on Monday, received now email from Kabbage that his loan was approved by the SBA... weird

Offline yitz1000

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #944 on: May 08, 2020, 07:15:02 AM »
I know someone who got approved and funded by Paypal on Monday, received now email from Kabbage that his loan was approved by the SBA... weird

+1 I had a similar situation