That is what my bank said, too. No delayed funding/origination.

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Apr 8, 2020
5:35:43pm

orangepitbull 3rd String

That is what my bank said, too. No delayed funding/origination.

I can't open until June 15.

Am I crazy to wait until mid-May to apply?

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orangepitbull

Bio page: orangepitbull
Joined: Mar 3, 2017
Last login: May 2, 2024
Total posts: 749 (2 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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