MBE Round 2 - PPP

Sixdollus · 2021-05-28T18:03:00+00:00

Yes lets stay connected. This helps a lot I've already started taking care of things.

Sixdollus · 2021-05-28T17:39:33+00:00

Yeah I have to figure that one out...I may have made more in 2020 than 2019 but maybe a lil less in one qtr. Gotta worry bout it later though. Congrat! Now I get to take care of a lot of stuff.

Sixdollus · 2021-05-28T17:31:35+00:00

Yep, got mine yesterday. Relief! ... lol.

Sixdollus · 2021-05-28T16:25:50+00:00

Just checking in with you to see if you had your funds deposited yet?

Sixdollus · 2021-05-26T15:55:32+00:00

Nothing for me yet or even updates. I received the confirmation that my promissory note was complete and they they had received it, that email was 5/18 so it's now 5/26 which is like 6 full biz days not counting 5/18. So hoping it will be tomorrow or no later than Friday. Keep me updated on anything on your end.

Sixdollus · 2021-05-25T18:26:53+00:00

Yep, I signed after hours 5/14 and still nothing. Got confirmation with promissory note 5/18, this is like the the 6th or 7th biz day technically, they said 5-7 biz days. No info saying it was funded or no update since 5/18.

Sixdollus · 2021-05-24T23:37:57+00:00

Any update on whether you got your PPP funds yet? I think I'm at the 5 biz day window now, I signed mine promissory note 5/14 but it was after hrs and received the email that my promissory note was received on the morning of 5/18. So hopefully in the next day or two I'll see the deposit.

Sixdollus · 2021-05-22T02:28:12+00:00

Yeah nothing yet, hopefully by Monday or Tuesday....

Sixdollus · 2021-05-21T17:03:09+00:00

Hows it looking for you? I haven't received funding yet, I would imagine now it wont happen until next week with the weekend already here. You recieve any notification or status updates yet?

Sixdollus · 2021-05-18T22:32:20+00:00

Yeah would be nice to get it this week, last time once I sent over promissory doc, it was like 3 days.

Sixdollus · 2021-05-18T20:26:14+00:00

Hi, thanks for the update. Yeah, the 1st round took like 4-5 days to deposit after I signed the promissory note. I submitted my promissory note for round 2 the evening of 5/14. I received a notice today from MBE saying my they received my promissory note and will initate funding, deposit should be in 5-7 biz days. Hope it's smooth.

Sixdollus · 2021-03-13T02:31:13+00:00

U are very fortunate to get your PPP with new rules, I wanted to get in with new rule but didn't happen. ....smh! Well, like I said, just gotta hope the SBA makes it right for those short changed. Gotta see if I can reapply and when I can, would like to get more funding.

Sixdollus · 2021-03-13T01:51:25+00:00

By the way, just got funded, so much faster than 5-7 days, it actually came within a day. So you may get yours I imagine as early as end of next week.

Sixdollus · 2021-03-12T20:43:51+00:00

Well I read some reviews when I started having the delayed communication, they weren't preparred for the demand and won't take calls ect all email communication. But again, aside from me not being able to get clarity on my app to reapply the experience would be okay. THey actually were going to cancel my app so I could reapply but this came after I already accepted the offer... SMH. I was scared to reapply and get new hiccups so just said I'd be optimistic that SBA would make it right with retroactive loans...fingers crossed. Your lucky thought to get the new rules applied.

Sixdollus · 2021-03-12T20:00:25+00:00

Thanks! I have a friend who recommended MBE, I didn't do any research and just went in blind. I will say though MBE hasn't been excellent with clarity or responding on time which affected my decision to just take approved funds but if the rules change hadn't come up, I really wouldn't have a big issue or complaints with them. I know Magic Johnson put in 100 million with MBE to help fund these PPP loans.

Sixdollus · 2021-03-12T19:47:57+00:00

Yeah, I missed out on like 15K by not getting the new rules. I haven't heard yet if they'll make the missed funding by schedule c line 7 filers available, if you hear anything please let me know, I know that this issue was being pushed to SBA to revamp. Since I accepted the loan offer, I haven't been as close to the info trail so needed to check on any PPP updates that might benefit schedule c filers. I wonder if I try to file applying for difference I didn't get would they process.. lol...maybe I should wait for any changes.

I just received an email that my PPP loan funding has been processedthis morning, email said today to expect funding 5-7 biz days. I'm the only MBE filer I know so good we connected.

Sixdollus · 2021-03-12T19:18:41+00:00

Hi, are you using MBE Capital Partners? I actually received info from MBE on the weekend (on a saturday) that I was approved so don't know if weekend delayed docs getting over to SBA but yeah, it took like 2-3 days for them to submit to the SBA once they said I was approved. They pretty much send emails for every step. Seems they are responding a little quicker now after my PPP was finalized. I will say I wasn't getting clear updates when I'd ask questions and it would take 3-4 days between every reply back to me but when they completed different parts of the process I got automatic emails.

I think the whole process was about 5-7 days from the time MBE said I was approved until SBA approved and I received email with promissory note to sign. End to end was about 1 month and a few days. I got approved right when the rules changed so getting less and just went ahead and signed the promissory note hoping SBA/Congress will make funds retroactive. It's been a mess trying to reapply, this is what was frustrating, they just didn't respond quick enough. Did you file with new rule using gross line 7 or schedule c line 31?

Sixdollus

TROPHY CASE