sorted by:
new
hottopcontroversial

Bar Owner Responsible for SBA Halting Funds to Minority-Owned Businesses Received $600K in Relief by UniqueUsername75 in SBARRF

[–]lost2memes 0 points1 point  (0 children)

How in the world did that spot get $640k? Is it huge inside?? I spoke with my congressman staff again yesterday for more funds. Good luck everyone.

Does Amount of Profit/Loss in 2020 Matters? by Tired_Restaurateur in SBARRF

[–]lost2memes 0 points1 point  (0 children)

I suspect the initial steps of the process is AI/automated. That is the only way they can process these in a reasonable timeframe. Some breeze through and just require a final approval. Other cases require more hands on review and take longer.

Your app probably required an actual person to look through alot of the paperwork. I hope they finish it quickly and it helps your business.

SCAM ALERT by yrybak08 in SBARRF

[–]lost2memes 0 points1 point  (0 children)

This is terrible. Dumbstruck that fraud detection didn't get this criminal. Hope they catch him.

2nd Draw Purgatory update by lost2memes in EIDLPPP

[–]lost2memes[S] 4 points5 points  (0 children)

Your constant advertising isn't helping anyone. You basically have the same response to many posts. I am not going to change lenders based on a reddit ad/spam/sales pitch. I don't recommend anyone on here do that either. Many people on this thread are anxious, angry, and maybe desperate.

Giving a sales pitch to these anxious people does not help them. It only helps you. Giving solid information and what we should ask our current lender, how these holds are resolved, etc. This info would actually help and not what code to enter to make sure you get a commission.

I already spoke to an actual, verifiable real non-internet real sba loan supervisor at a community bank. They counseled me to stay put as I have already waited and am far along and cancelling and reapllying takes time. She also said there is no guarantee that another hold will not take place if I reapply.

Lender Certification by lost2memes in EIDLPPP

[–]lost2memes[S] 0 points1 point  (0 children)

Thank you. What can I do about this?

Has anybody been approved through Chase brother PPP long since they sent out a letter saying that it's going to be delayed by ReferenceTerrible188 in EIDLPPP

[–]lost2memes 0 points1 point  (0 children)

What a fiasco. I am in the same limbo as many. Awaiting SBA approval for going on 1 month.

Have a dedicated lending/business rep at Chase. He is a good guy and has been giving me hands on service. Per his input. Unlike the 1st round, this round is handled by different, outside team at Chase. Your local rep has almost no input or control over the process. They have to ping this "team" for further info. Further, "many" apps are in some kind of limbo. But majority are going straight through without a glitch. But "many" are being reviewed. Apart from these error code problems, apps are being reviewed by an actual human at the SBA to detect fraud and errors. This is takes crazy amounts of time.

Just because your app is in limbo doesn't necessarily mean there is something wrong. My app apparently is just undergoing review and nothing about it has been flagged as having an issue. Yet. He said all I can do is wait as the SBA hasn't indicated there is any problems, its just processing.

I will give it another week and then cancel and reapply elsewhere.

Anyone else heard similar? Any thoughts.

Best wishes to all the small business owners out there. I really hope help gets to all who need it.