Citizens LOC

[bourgogne]

I see it, fundation @ the end of 1/20.  if this is a things to come we are in big trouble.  how about pnc, are you out of their geo?  should be a snap to get a loc from them and at way less %

[Anonymous]

I just submitted a draw request and it went through like normal. It says my CL is still 50k and the draw in my pending balance??? 

[bourgogne]

cannot speak for citizen but pnc is not even close to real time on the loc side, sometimes stuff does not settle for a week.  how much did you suck out?

[longclimbback]

Yes I was approved in January by fundation via citizens.  Citizens denied me based on not serving my area. Have been called at least twice and emailed twice to see when I would be requesting a draw. I just responded when I needed it. I'm a seasonal contractor who ramps up about now each year. I didnt want to be greedy so I asked for 15k/50k. The online portal said funds would be available in 2-3 business days.  Been checking back each day.  Got the email today saying denied. Here it is-

We have reviewed your draw request.  Unfortunately, given the unprecedented economic disruption facing our country from the Covid-19 pandemic, Fundation has made the decision to temporarily pause new draws for most line of credit customers. We hope to begin approving more draw requests as soon as possible and the timing of when we can do that will be tightly linked to resumption of regular economic activity in our country. We are sorry that we cannot approve your draw request at this time, but we trust you understand that this situation is beyond our control. 

Sincerely,

Fundation Customer Care

(888) 390-8246

[bourgogne]

I dont know how this loc works but one can connect bill pay to many locs.  the idea of paying a bunch of credit cards and having an FI hold up the payments make me shutter in my socks.  again, if you are outside the pnc footprint I would apply and get rid of these fools.  nobody need a bank that will not back you up when you need it most.  imo.  https://www.pnc.com/en/small-business/borrowing/business-lending.html?WT.mc_id=SBL_Offline_0001

[longclimbback]

Hard for me to do apply for anything different right now. I make my living April- December.  So my last 3 bank statements suck with just withdrawals and my 2019 taxes will show modest income after I expense as much as I can of  80k in equipment that i bought last year. I have about 40k in business cards I can use if they dont get nixed. Hardest part is I'm in upstate ny. The whole state is shut down for contractors right now. So I cant really do any work anyways. 

Does anyone have any solid info on the new FUA unemployment that sole proprietors supposedly can get? Or the hardship loans?

[bourgogne]

bank statements and returns don't come into play with the loc I linked above.  its a loc that is based on scores and other stuff they drill into.  no poi for me and several other individuals that I know that got it.  there is a post about the loc in this forum.  the issue is you are in ny and so is pnc, so its a no go, its an out of geo product.  I would contact fundation and see what the issue is and try to work that angle first.  I wish you well and good health

[jaxstraw]

---

@bourgogne wrote:

bank statements and returns don't come into play with the loc I linked above.  its a loc that is based on scores and other stuff they drill into.  no poi for me and several other individuals that I know that got it.  there is a post about the loc in this forum.  the issue is you are in ny and so is pnc, so its a no go, its an out of geo product.  I would contact fundation and see what the issue is and try to work that angle first.  I wish you well and good health

---

The link you provided earlier is a  Biz LOC that isn't geo-fenced to the states they operate from.

They actually offer two....one geo-fenced and the other isn't.

Unfortunately though I do not think they are accepting any unsecured biz applications at this time due to Covid 19.

https://www.pnc.com/en/small-business/borrowing/business-lending.html

[bourgogne]

---

@jaxstraw wrote:

---

@bourgogne wrote:

bank statements and returns don't come into play with the loc I linked above.  its a loc that is based on scores and other stuff they drill into.  no poi for me and several other individuals that I know that got it.  there is a post about the loc in this forum.  the issue is you are in ny and so is pnc, so its a no go, its an out of geo product.  I would contact fundation and see what the issue is and try to work that angle first.  I wish you well and good health

---

The link you provided earlier is a  Biz LOC that isn't geo-fenced to the states they operate from.

They actually offer two....one geo-fenced and the other isn't.

Unfortunately though I do not think they are accepting any unsecured biz applications at this time due to Covid 19.

https://www.pnc.com/en/small-business/borrowing/business-lending.html

---

Hi, I don't even think about the other one because I am a no maintenance fee kind of loc guy.  gosh I am happy I got my locs in place before all this started, what a mess.  be well

[Anonymous]

When you login to the portal, there's a spot that says account status.... Does yours still say "active" ? I did a draw request 2 days ago and haven't heard anything, if it's not deposited tomorrow then I know it's declined like yours.