Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 213069 times)

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3100 on: February 01, 2021, 10:53:20 PM »
If you have your BofA loan docs I’m sure they have your loan number somewhere.
Unlike many banks who use Docusign, BofA did everything online and they don't have an option to view the loan docs so...
Anyway all good now hopefully (after the rep told me 3 times that the account number is the only number I need, and I insisted that I need a 10 digit number, and then she said she's never heard of an sba or etran #, and that the only other thing she has for me is a 10 digit reference number noted on the account, so now we hope for the best).

Online AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3101 on: February 01, 2021, 10:55:49 PM »
Unlike many banks who use Docusign, BofA did everything online and they don't have an option to view the loan docs so...
Anyway all good now hopefully (after the rep told me 3 times that the account number is the only number I need, and I insisted that I need a 10 digit number, and then she said she's never heard of an sba or etran #, and that the only other thing she has for me is a 10 digit reference number noted on the account, so now we hope for the best).

Wasn’t aware about the BofA process being all online with no loan docs at all. Try making a CAWEB account using your reference number and you’ll know for sure if it’s your etran.

Offline Moshe123

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3102 on: February 02, 2021, 10:03:52 AM »
Funds showed up this morning. Chase.

Offline avrumy

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3103 on: February 02, 2021, 12:54:06 PM »
Does Unemployment count as income when comparing  a quarter from 2019 to 2020? tia

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3104 on: February 02, 2021, 01:10:00 PM »
Does Unemployment count as income when comparing  a quarter from 2019 to 2020? tia
No. Only "business" income counts.

Offline Deal Guy

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3105 on: February 02, 2021, 05:04:18 PM »
Is there anyone home at Cross River Bank?

I've never had such bad customer service when calling a bank in my life and there is literally no one to talk to about a PPP application. The only way is by email it seems and 2 weeks in and no one responds.


Is this how the service is supposed to be with them?
I think their biggest issue, is what Phil Goldfeder said on webinar that they held with aguda a few weeks ago.
They were all proud that unlike other banks that had thousands of employees working on ppp, Cross river did round 1 with just 100 employees.
100 employees are way way too little. (And if some of those 100 employees are the clueless people in India that are answering the phones, we are even worse off.)

Offline cgr

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Offline 123-Rosh

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3107 on: February 03, 2021, 01:39:26 PM »
Is Cross River processing second draws quicker than first draws?

Offline TBD

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3108 on: February 03, 2021, 11:33:33 PM »
When will the SBA begin sending email invites to the first priority group?
The SBA will begin sending email invites to businesses and nonprofit organizations that received the
EIDL Advance in an amount less than $10,000 starting on February 1, 2021. It may take several
weeks before all emails are sent to businesses in the first priority group so please do not be alarmed
if you do not receive your email invite right away.

https://www.sba.gov/sites/default/files/2021-02/Targeted%20EIDL%20FAQ_Final-508_0.pdf

While I am waiting for the SBA invitation to apply for the Targeted EIDL Advance, what are
some things I can do to prepare to apply?
If you have not yet filed your 2019 Federal Tax Return, you should complete that process. You will
also be required to provide the business’ monthly gross receipts for each month from January
2019 through the most recent month-to-date period.
This information will be used to determine
that your business meets the greater than 30 percent reduction in revenue requirement during an
8-week period beginning on March 2, 2020.
8. What documentation will I need to provide?
Applicants who meet the low-income community criteria will be asked to provide gross monthly
revenue for January 2019 through the most recent month-to-date period
(all forms of combined
monthly earnings received, such as profits or salaries) to confirm the reduction in revenue. They
may also be asked to provide an IRS Form 4506-T to allow the SBA to request tax information on
the applicants’ behalf. Tax verification process and requirements for businesses in U.S. territories
may differ.

Offline beeweegee

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3109 on: February 04, 2021, 08:28:45 AM »
Docusign came the next day.
Funded by Cross River today.

Offline nobiggy

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3110 on: February 04, 2021, 08:36:36 AM »
Any suggestions for another place to apply for PPP as Cross River seems to be a waste of time and no one there to help?

Offline nobiggy

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3111 on: February 04, 2021, 08:37:10 AM »
I think their biggest issue, is what Phil Goldfeder said on webinar that they held with aguda a few weeks ago.
They were all proud that unlike other banks that had thousands of employees working on ppp, Cross river did round 1 with just 100 employees.
100 employees are way way too little. (And if some of those 100 employees are the clueless people in India that are answering the phones, we are even worse off.)

Sounds very jewish to me.

Offline nobiggy

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3112 on: February 04, 2021, 09:15:21 AM »
<<referral link redacted>>

But they paused applications for now

Why?
« Last Edit: February 04, 2021, 10:42:47 AM by AsherO »

Online YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3113 on: February 04, 2021, 10:51:35 AM »
Why?
Dans Deals is an affiliate-funded site. Dan has an affiliate link for PPP, and naturally, posting competing offers is against forum rules.
Monkeys don't fly unless you put them on airplanes

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3114 on: February 04, 2021, 01:46:05 PM »
Any suggestions for another place to apply for PPP as Cross River seems to be a waste of time and no one there to help?
You can reach out to me if you're having issues with Cross River.

Offline incendia

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3115 on: February 04, 2021, 08:39:40 PM »
Dans Deals is an affiliate-funded site. Dan has an affiliate link for PPP, and naturally, posting competing offers is against forum rules.

If it was natural there wouldn't be a rule against it

Online YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3116 on: February 04, 2021, 10:20:53 PM »
If it was natural there wouldn't be a rule against it
I mean natural the way General Mills writes "all natural ingredients" on sugar frosted sweat cereal...
Monkeys don't fly unless you put them on airplanes

Offline Hjay

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3117 on: February 04, 2021, 11:35:19 PM »
Dans Deals is an affiliate-funded site. Dan has an affiliate link for PPP, and naturally, posting competing offers is against forum rules.

First round IIRC Dan had a link as well & there were many links being posted here. OP was having an issue with crossriver so I suggested something else…


Online YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3118 on: February 04, 2021, 11:37:34 PM »
First round IIRC Dan had a link as well & there were many links being posted here. OP was having an issue with crossriver so I suggested something else…
I wasn't being DDF police - that I will only do if I get mod access and can manipulate Yehuda57's like count. I was simply answering the question as to why is was removed.
Monkeys don't fly unless you put them on airplanes

Online AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3119 on: February 04, 2021, 11:40:08 PM »
I mean natural the way General Mills writes "all natural ingredients" on sugar frosted sweat cereal...

Freudian typo?