Anyone else go through the process of applying for a PPP loan?

[kkott]

Experiences?

I bank with a "big bank", Wells Fargo, and as so many stories I've heard, they totally abandoned us and f*cked us. They used it as an excuse to force the gov'ts hand to rescend the penalties from their mortgage fraud and it worked, but they left their customers twisting in the wind. I finally found 2 smaller regional banks who would accept and submit my application, but they got it in the day the money ran out. He said he felt like I missed it by an hour or less. But, they were ready to go on the 2nd round, and got my application in on Tuesday and I had my SBA loan # Tuesday night and it got funded yesterday. I hate to think what all this stimulus money is going to do to the national debt, between business and individual stimulus and the additional amount they are giving those receiving unemployment.

 

[Circlejoe]

Experiences?

I bank with a "big bank", Wells Fargo, and as so many stories I've heard, they totally abandoned us and f*cked us. They used it as an excuse to force the gov'ts hand to rescend the penalties from their mortgage fraud and it worked, but they left their customers twisting in the wind. I finally found 2 smaller regional banks who would accept and submit my application, but they got it in the day the money ran out. He said he felt like I missed it by an hour or less. But, they were ready to go on the 2nd round, and got my application in on Tuesday and I had my SBA loan # Tuesday night and it got funded yesterday. I hate to think what all this stimulus money is going to do to the national debt, between business and individual stimulus and the additional amount they are giving those receiving unemployment.

My organization (large nonprofit) does business with Wells Fargo, but we used a smaller regional bank that was aggressive in pushing our application through. We were approved in the first round and received the funds in days. Very helpful.

 

[largemouth]

 

[jet812]

Hopefully some of the charitable foundations, non profits, & especially churches open their coffers & use the money that’s been donated to help people now. Even if it’s outside of their specific purpose, few causes could be important enough to sit on the money until this all clears up. But I doubt that’s what will happen, they would rather preserve their wealth.

 

[Circlejoe]

Hopefully some of the charitable foundations, non profits, & especially churches open their coffers & use the money that’s been donated to help people now. Even if it’s outside of their specific purpose, few causes could be important enough to sit on the money until this all clears up. But I doubt that’s what will happen, they would rather preserve their wealth.

Our experience is that foundations are indeed stepping up with support. It is very similar to 2008/2009 when foundations increased funding to keep nonprofits stable. We’re also seeing increased funding from corporations and major donors. Of course there will be some outliers but the vast majority of nonprofits will lead the effort to provide resources to those who are most vulnerable in our communities. We need the nonprofit sector in these challenging times.

 

[mcmurtry66]

Experiences?

I bank with a "big bank", Wells Fargo, and as so many stories I've heard, they totally abandoned us and f*cked us. They used it as an excuse to force the gov'ts hand to rescend the penalties from their mortgage fraud and it worked, but they left their customers twisting in the wind. I finally found 2 smaller regional banks who would accept and submit my application, but they got it in the day the money ran out. He said he felt like I missed it by an hour or less. But, they were ready to go on the 2nd round, and got my application in on Tuesday and I had my SBA loan # Tuesday night and it got funded yesterday. I hate to think what all this stimulus money is going to do to the national debt, between business and individual stimulus and the additional amount they are giving those receiving unemployment.

Big banks are pure evil. My company got into a fight with our old miserable bank and switched to one of the local credit unions. the change has been night and day. they've been fantastic.

 

[Bodylord]

Big banks are pure evil. My company got into a fight with our old miserable bank and switched to one of the local credit unions. the change has been night and day. they've been fantastic.

That's true! They are keen on earning big money, and they don't care how to do it. I think small companies can offer better loan conditions. Anyway, you can check conditions and rating of different loan companies on https://geldlenen-spoed.nl/snel-geld-lenen this site offers useful information about loan providers, their ratings, and reviews from customers.

 

[Mas-sa-suta]

Hopefully some of the charitable foundations, non profits, & especially churches open their coffers & use the money that’s been donated to help people now. Even if it’s outside of their specific purpose, few causes could be important enough to sit on the money until this all clears up. But I doubt that’s what will happen, they would rather preserve their wealth.

I am a long-time Director and Officer of a non-profit which provides therapeutic services to primarily children who are on the autism spectrum. We are the recipient of two loans, one PP based and the second is SBA.