Small Business Disaster Relief

[DallasCoon12]

Our PPP was funded yesterday around lunch. Couldn’t have come at a better time!

[chrigging]

PPP money has dried up. Chase pooched us good as their process took to long. We submitted everything early last week. Recieved confirmation etc. Today we get email saying sorry funds dried up.....but your application will be ready should gov approve more.

Sucks

In the same boat. Comerica Bank sucks.

[DZM]

For those not hearing anything from there bank. What bank are you using. Just curious if there is a trend with a certain banks. Seems some are getting approved fairly quickly while others are still waiting to even hear anything.

I'm using BBVA and have not heard anything, assuming I'm still not approved.

Same BBVA, got my app in over a week ago and never heard a word, frustrating

[Sparkles]

Same BBVA, got my app in over a week ago and never heard a word, frustrating

I did get an email from BBVA saying I was missing a document but didn’t list which one so I uploaded all of them again


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[UncleBubba]

Our CPA informed us that ours came in yesterday!

[Mexico]

For those of you who were trying to get the PPP through Chase you can forget about it. They decided to give the money to larger corporations that OWED them money, pretty much giving the middle finger to the mom and pop organizations who trusted them.

Many, many small companies are dumping them this morning and switching banks. I didn't try and get the PPP but will try this next round if more money is passed. Here's an interesting watch...


Watch "Chase Bank prioritizes LARGE INDEBTED businesses over small businesses for PPP loans" on YouTube

https://youtu.be/yP4rodsK41Eh

Buy the way they gave Ruth Chris Steakhouse 20 million ( limit is 10) a company that owes them millions. That article is in the Wall Street Journal. There will be investigations...

[eradicator]

For those of you who were trying to get the PPP through Chase you can forget about it. They decided to give the money to larger corporations that OWED them money, pretty much giving the middle finger to the mom and pop organizations who trusted them.

Many, many small companies are dumping them this morning and switching banks. I didn't try and get the PPP but will try this next round if more money is passed. Here's an interesting watch...


Watch "Chase Bank prioritizes LARGE INDEBTED businesses over small businesses for PPP loans" on YouTube

https://youtu.be/yP4rodsK41Eh

Buy the way they gave Ruth Chris Steakhouse 20 million ( limit is 10) a company that owes them millions. That article is in the Wall Street Journal. There will be investigations...

Yep, thinking about changing banks. Been with them a long time mainly out of convenience and everyone at my local branch knows me. Pretty frustrating.

[MAP]

[quoteBuy the way they gave Ruth Chris Steakhouse 20 million ( limit is 10) a company that owes them millions. That article is in the Wall Street Journal. There will be investigations...][/quote]

Surely they have more than 500 employees, I thought that was the cut off.....unless that 20 million is just to one franchise

[HCF_CUSTOMS]

2 exceptions to 500 employee rule: restaurants and hotel chains

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[Dale Moser]

If that’s true about Chase, I’ll be firing them Monday.


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[Dale Moser]

We did our PPP through First Financial, and they were phenomenal.


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[MAP]

2 exceptions to 500 employee rule: restaurants and hotel chains

well now I know why they say the program has run out of money, those are the two industries that could wipe out the $350 billion just by themselves. Like everything, over the next few months we'll hear all kind of reports on corruption and favoritism showed to certain companies/politicians who received the PPP loans

[bermise]

Bank of Texas is a smaller bank but pulled the same stunt as Chase. I applied the first day it was available and waited weeks while they gave big loans to other “small” business’s with large debt. As one said above it’s a pain in the *** to switch banks and change the books for your business but I’m going to move to Frost Bank after this

[ShawnG]

Have been informed that I am approved and paperwork will be ready to sign today. We shall see....

[Mexico]

[quoteBuy the way they gave Ruth Chris Steakhouse 20 million ( limit is 10) a company that owes them millions. That article is in the Wall Street Journal. There will be investigations...]

Surely they have more than 500 employees, I thought that was the cut off.....unless that 20 million is just to one franchise[/QUOTE]

They finagled the system and set up each restuarant individually, then granted the large amount to the whole company. Will be part of the investigation...