My Account
Sign up, and CougarBoard will remember which categories you want to view.
Sign up
Report problem with this ad
Start a related thread
Start a related poll
Reply via Boardmail
Apr 3, 2020
8:37
:29
am
Superman21
All-American
Banks are being compensated a % of the loan amount based on loan size.
Start a related thread
Start a related poll
Reply via Boardmail
Report problem with this ad
Superman21
Bio page
Superman21
Joined
Jun 16, 2014
Last login
Apr 30, 2024
Total posts
5,399 (124 FO)
Report problem with this ad
Messages
Author
Time
It appears Bank of America may have ended our company
boogers
4/3/20 8:32am
I’d contact a local bank. It’s no risk for them.
AFCougK9
4/3/20 8:33am
Many small banks won’t do the loan because it’s so low interest.
BYUCLA
4/3/20 8:35am
Banks are being compensated a % of the loan amount based on loan size.
Superman21
4/3/20 8:37am
I received updated info. Wells Fargo holds our loan. They were told they could
grandpacoug
4/3/20 8:53am
We will do it. We just have to open a business deposit account which we can do
Superman21
4/3/20 9:19am
They’ll likely do loans for others soon after the initial wave passes
BYUCLA
4/3/20 8:33am
Each institution has a certain amount of Fed. funds allocated. B of A already
boogers
4/3/20 8:35am
Secretary Mnuchin said that if the funds run out Congress will go right back to
BYUCLA
4/3/20 8:36am
Where are you getting application #s?
Superman21
4/3/20 8:38am
People I'm talking to worry that the money will be gone by Monday.
YSMACK
4/3/20 8:39am
They’ll add more if that happens
BYUCLA
4/3/20 8:41am
Hopefully, but I wouldn't rely on that.
YSMACK
4/3/20 8:47am
I’m sure it will be.
Superman21
4/3/20 8:41am
Received that email this morning, and reached out to the local branch
ORCoug
4/3/20 8:38am
We only require you have a business bank account with us to apply.
Superman21
4/3/20 8:40am
Nope. Confirmed in branch too.
boogers
4/3/20 8:58am
Wow. Unbelievably poor decision.
ORCoug
4/3/20 9:21am
I'm not eligible despite them carrying my practice loan and my primary business
AFCougK9
4/3/20 9:28am
Other banks will do it. Google "SBA section 7 banks"
byujdmba
4/3/20 8:39am
BofA treats customers horribly. After the financial crisis, I swore never to do
Archaea
4/3/20 8:40am
Lendio
GlebBaser
4/3/20 9:04am
Looks like a great time to move to a smaller local bank
Turnpike Lane
4/3/20 9:27am
Report problem with this ad
Posting on CougarBoard
In order to post, you will need to either
sign up
or
log in
.
Report problem with this ad
