[scostu]

Originally Posted by dreamingat30fps

Makes sense to me.

BTW finally got an email from Chase stating my PPP was approved by the SBA and that the money would be in my account within 3 days. I was actually expecting a call or something, but no, it was all done through automated emails.

Same for me as well.

Got email @ 0 dark hundred hrs this morning.

[jlstyle]

Originally Posted by KenB925

So far I have only received emails, not sure when funding may happen.

For a lot of people/businesses help may come too late.

Yea it's crazy that they still take my taxes and not releasing anything to me...

[383vett]

Crazy process. I predict there will be a number of lawyers going after the banks after the money runs out. I am also a dentist and my office has been closed since March 16th. I have continued to pay my staff their wages to reward them for decades of dedicated service. I started my application with BofA the first day possible on April 3. I started the Intralink process 4 days later when I was given the opportunity and provided them with the requested information. Two weeks later I received an email from BofA stating that they needed additional payroll information from Feb 14-29 (which wasn't requested originally). The email stated that they had tried to contact me numerous times (which they hadn't) and if I didn't respond that day, there would be a good chance my application would not be entered in time. I just received an email today that my application had been preliminarily accepted and I should receive funding within the next two days. I'm still holding my breath. I have responded to all of BofA's requests immediately and missed out on the first round of funding and still have my finger's crossed that the funds will come through. I'm sure there are others in my position that may miss out on the second round of funding despite responding promptly to the bank's requests. Certainly there is enough fuel for the lawyers to eventually have their fun.

[wanna325i]

Received my EIDL grant this morning, applied on April 5.

[MisterF80M3]

Received my PPP loan today. I applied 4/10

Still nothing on the EIDL

[MisterF80M3]

Originally Posted by 383vett

Crazy process. I predict there will be a number of lawyers going after the banks after the money runs out. I am also a dentist and my office has been closed since March 16th. I have continued to pay my staff their wages to reward them for decades of dedicated service. I started my application with BofA the first day possible on April 3. I started the Intralink process 4 days later when I was given the opportunity and provided them with the requested information. Two weeks later I received an email from BofA stating that they needed additional payroll information from Feb 14-29 (which wasn't requested originally). The email stated that they had tried to contact me numerous times (which they hadn't) and if I didn't respond that day, there would be a good chance my application would not be entered in time. I just received an email today that my application had been preliminarily accepted and I should receive funding within the next two days. I'm still holding my breath. I have responded to all of BofA's requests immediately and missed out on the first round of funding and still have my finger's crossed that the funds will come through. I'm sure there are others in my position that may miss out on the second round of funding despite responding promptly to the bank's requests. Certainly there is enough fuel for the lawyers to eventually have their fun.

Have you considered letting your workers get unemployment? They may earn more through unemployment than working especially if they are part-time workers.

My employees rather get unemployment than work. They are currently getting $1000 per week for doing nothing.

[F30lolz]

Originally Posted by Kolyan2k

So whats going on with EIDL? When will it that be available?

I applied for the $10k grant on March 31st and received $1k around 1:30am this past Wednesday. Palosi/Shumer can bark all they want but I don’t think the SBA will be forced to give out the remaining $9k to independent contractors/freelancers.

[RickFLM4]

Originally Posted by F30lolz

I applied for the $10k grant on March 31st and received $1k around 1:30am this past Wednesday. Palosi/Shumer can bark all they want but I don’t think the SBA will be forced to give out the remaining $9k to independent contractors/freelancers.

Interesting. I submitted EIDL on April 3 and received a generic email in mid-April saying they would only be disbursing $1,000/employee. Since I’m a sole proprietor with no employees except myself, I presumed freelancers would get nothing (which is what I got).

[hubbahubba]

Got the email about midnight that we were approved, need to sign a few more docs, and will fund in about a week. Fantastic!

[hubbahubba]

I should add, it was the small local bank, not Wells Fargo that got it done.

[saeyedoc]

Originally Posted by RickFLM4

Congrats. When did you submit the EIDL application?

The first day, I think we had to reapply a few days later when they changed to application. Our CEO has been very proactive through all this, he's the only one who normally gets paid over $100k who's still getting his full salary, and he's been working his butt off.

[Yessir]

After waiting and waiting and waiting with my fingers crossed, Wells Fargo just sent an email saying that we've been approved for the loan. I'm glad I waited as I filled out an application through a different lender, Square, and even though they had remarkably faster processing, they approved me for only 19% of my requested loan amount. I took a risk waiting for WF but it was worth it. They approved me for the requested loan amount in full. Time to give my employees some well needed relief.

[383vett]

Originally Posted by MisterF80M3

Have you considered letting your workers get unemployment? They may earn more through unemployment than working especially if they are part-time workers.

My employees rather get unemployment than work. They are currently getting $1000 per week for doing nothing.

Yes, I did weigh that option. My employees are all full time and make more than the unemployment checks would have provided. Gestures like this go a long way towards developing a stable work environment. I have one employee that has been with me for almost 40 years and another at 20 years. I treat them like family and am rewarded with their loyalty. On a happy note, I just received my PPP funds this morning.

[hubbahubba]

Originally Posted by Yessir

After waiting and waiting and waiting with my fingers crossed, Wells Fargo just sent an email saying that we've been approved for the loan. I'm glad I waited as I filled out an application through a different lender, Square, and even though they had remarkably faster processing, they approved me for only 19% of my requested loan amount. I took a risk waiting for WF but it was worth it. They approved me for the requested loan amount in full. Time to give my employees some well needed relief.

That is fantastic news, congrats to you and your team!

[hubbahubba]

Originally Posted by 383vett

Yes, I did weigh that option. My employees are all full time and make more than the unemployment checks would have provided. Gestures like this go a long way towards developing a stable work environment. I have one employee that has been with me for almost 40 years and another at 20 years. I treat them like family and am rewarded with their loyalty. On a happy note, I just received my PPP funds this morning.

I could not agree more. A happy and stable team is a win win for all involved. Congrats on funding!

[383vett]

Originally Posted by hubbahubba

I could not agree more. A happy and stable team is a win win for all involved. Congrats on funding!

Thanks, you too. 👍

[Yessir]

Originally Posted by hubbahubba

That is fantastic news, congrats to you and your team!

Thank you!

[jlstyle]

Finally got my PPP today. Applied on the opening day and I thought I was out of the batch. No luck on EIDL though.

[DocL]

Originally Posted by 383vett

Crazy process. I predict there will be a number of lawyers going after the banks after the money runs out. I am also a dentist and my office has been closed since March 16th. I have continued to pay my staff their wages to reward them for decades of dedicated service. I started my application with BofA the first day possible on April 3. I started the Intralink process 4 days later when I was given the opportunity and provided them with the requested information. Two weeks later I received an email from BofA stating that they needed additional payroll information from Feb 14-29 (which wasn't requested originally). The email stated that they had tried to contact me numerous times (which they hadn't) and if I didn't respond that day, there would be a good chance my application would not be entered in time. I just received an email today that my application had been preliminarily accepted and I should receive funding within the next two days. I'm still holding my breath. I have responded to all of BofA's requests immediately and missed out on the first round of funding and still have my finger's crossed that the funds will come through. I'm sure there are others in my position that may miss out on the second round of funding despite responding promptly to the bank's requests. Certainly there is enough fuel for the lawyers to eventually have their fun.

I'm a fellow dentite and use BoA, and went through the same process. I did upload my 2020 Q1 940 originally. I didn't get many emails, but I did get calls from private phone numbers that I usually never answer. The process went very fast once I got the approval three weeks after I filled out the original application the first hour the site went live. My staff ultimately quit, but I paid my hygienist because she has been with me for a long time. I now need to hire quickly to start using the funds, but no one wants to work. SMH.

[DocL]

Originally Posted by jlstyle

Finally got my PPP today. Applied on the opening day and I thought I was out of the batch. No luck on EIDL though.

I got my EIDL the day after the PPP. I had zero notification that I was getting it, and I never got any emails. It just showed up.

[DocL]

Originally Posted by hubbahubba

Got the email about midnight that we were approved, need to sign a few more docs, and will fund in about a week. Fantastic!

Congrats. You'll wake up and most of your stress will be relieved.

[jlstyle]

Originally Posted by DocL

I got my EIDL the day after the PPP. I had zero notification that I was getting it, and I never got any emails. It just showed up.

Great to hear.
SBA sent me an email, perhaps it's a mass email, but said my application is being processed in the order it was received. Nothing promising but good to be updated.