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Anybody got this SBA ppp loan yet? Such a mess

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Cipher360
Established Member

Re: Anybody got this SBA ppp loan yet? Such a mess

I unlocked mine but still waiting for them to pull it. Hopefully soon.  How long between each attempt did they make the credit pull attempts? Curious 

Message 31 of 53
iluvnola
Valued Member

Re: Anybody got this SBA ppp loan yet? Such a mess

My report was locked when SBA tried to pull it today. I just unlocked it, so now I’m waiting to see what happens next.
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Message 32 of 53
WayneSki
Regular Contributor

Re: Anybody got this SBA ppp loan yet? Such a mess

Applied for PPP on 4/7 through bank. Recieved a call from the  bank on 4/24 to verify some information,they sent out the document for me to e-sign shortly after call. Funds were deposited this morning 4/27. I am a single member LLC.

Message 33 of 53
Ferocious
Member

Re: Anybody got this SBA ppp loan yet? Such a mess

Has anyone had any luck with Kabbage for the PPP? if so, how long did it take? 

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Message 34 of 53
Anonymous
Not applicable

Re: Anybody got this SBA ppp loan yet? Such a mess

Applied back when the apps went live. I received a call last week from a Banker and verified Quickbooks information. Received a "your loan will be issued" email when funds were reported to be out. I even got them after saying I would be approved. I got another email saying my loan docs would be ready soon. Last Thurs. Docs showed up 9 AM and funds DP'd the same day. It was a pain but now lets wait for the next step in the EIDL.

Message 35 of 53
Nikki66972
New Contributor

Re: Anybody got this SBA ppp loan yet? Such a mess

Update: I was denied by PayPal.

I applied with a different company and I just received my SBA loan number. [A hard task by itself] I'll submit the requested docs today. Moving closer to funding.

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Current Score: 589
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March 2020
Message 36 of 53
flyingmd
Frequent Contributor

Re: Anybody got this SBA ppp loan yet? Such a mess

I applied and received through Chase. Never pulled my credit. I believe they only pull credit if the app is a sole proprietor. If the app is a corporation, then no credit pull. Anybody have an S Corp application and get their credit pulled?

Message 37 of 53
TryItAgain
Regular Contributor

Re: Anybody got this SBA ppp loan yet? Such a mess

I applied within first 10 minutes of Chase accepting apps on 4/3 and received a call the following Sunday 4/5 from Chase getting everything lined up, then again Monday to e-sign docs.  On 4/16 I was informed an initial was missed on the app (GRRRRRRRRR) and I quickly re-sent the scanned initialled page in question.  They informed me I was approved but the Money ran out that day. She said without the error I would have been done already, so my bad on the initial but that long to tell me?

 

Then after re-funding of PPP by Congress I received a Chase email they were submitting my Chase approived app to SBA for their approval on Thurs 4-30, approved and funds arrived Smiley Happy in business checking account 5-1. I am a single owner LLC.

 

At the same time a friend of mine applied same day I did through BB&T and is still in some state of pending noone can update him on. This whole thing is a cluster f**k.  The PPP is great but I truly believe banks put the loan priorities in order of what made them the most money first to some degree (very large ppp's).

 

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Message 38 of 53
Nikki66972
New Contributor

Re: Anybody got this SBA ppp loan yet? Such a mess

Update: Received my EIDL funds yesterday. It caught me off guard because I applied 4/7/20 and never heard anything else.

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March 2020
Message 39 of 53
Nikki66972
New Contributor

Re: Anybody got this SBA ppp loan yet? Such a mess

I was told if you cannot work with a lender,  go to a different one. I was denied by PayPal and quickly approved by a different lender.

Starting Score: 589
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March 2020
Message 40 of 53
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