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Apr 8, 2020
4:10
:37
pm
kotacoug
Intervention Needed
Never mind. Just got an update form a acct firm that that is
In fact what they are doing. No deferment.
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kotacoug
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kotacoug
Joined
Jul 20, 2002
Last login
May 2, 2024
Total posts
80,600 (4,686 FO)
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Messages
Author
Time
Need help - note from my bank on SBA PPP funding timing. Note Form issued.
Acorn
4/8/20 3:44pm
I sumitted an app Sunday and am waiting to hear back. I understood about 30% of
mcnasty
4/8/20 3:51pm
SBA is not allowing Delayed funding as previously reported
whatchamacallit
4/8/20 3:53pm
Where are you getting that information? Just wondering.
kotacoug
4/8/20 4:02pm
Never mind. Just got an update form a acct firm that that is
kotacoug
4/8/20 4:10pm
That is what my bank said, too. No delayed funding/origination.
orangepitbull
4/8/20 5:35pm
Watch the following...
kotacoug
4/8/20 5:51pm
Your Bank controls production of the loan documents, and funding timeline
g$
4/8/20 4:15pm
SBA changed their minds today. New ruling is that
BLT-Coug
4/8/20 4:19pm
makes sense, that being said, seems ironic that the SBA is giving banks
g$
4/8/20 4:27pm
Yeah I don't know how they expect the banks to find that quickly.
BLT-Coug
4/8/20 4:30pm
It is also a terrible Ruling for anybody who
BLT-Coug
4/8/20 4:33pm
Well you can use it to pay employees for being in the office
kotacoug
4/8/20 5:53pm
Here is the problem. The way the forgiveness formula works is they forgive
Acorn
4/8/20 6:33pm
Just watched a quick webinar from accountant. Apparently it is up to the Bank
kotacoug
4/8/20 4:32pm
The whole thing is a cluster. What you just posted
BLT-Coug
4/8/20 4:36pm
It looks to be semi official at 10 days funding requirement after approval
Acorn
4/8/20 6:26pm
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