hurt by the measures that have been taken to stem the spread of COVID-19. Since the program started, Morrow and other small business owers are anxiously awaiting notice from their lenders about loan approvals and are eager to see the much-needed lifelines show up in their bank accounts.
"They told us, 'you have been approved by the SBA and we will be funding a separate account that you can draw from just as soon as the SBA gives us guidance on if they need us to have you sign anything before distributing funds,' " Duff said. "That seems to be the last step and what's holding things up to get the money."
Fountainhead founder and CEO Chris Hurn said last week that SBA had not provided adequate guidance needed to service the lender's "tremendous" queue of small businesses seeking loans and warned that most of their company's businesses "will be dissatisfied with the speed of the process." SBA Administrator Jovita Carranza tweeted about a local business in North Carolina that had received funding from its lender, but broader details about the total amount of funds lent to businesses were not made available, despite multiple requests.
We have WellsFargo as our bank and they shut down their PPP website on Saturday under the cover of darkness after less than one day after launching ... No other bank will speak with us unless we are a customer of theirs.
Lol. Easy reminmetweets......
How many are going to fold and never come bacK?
Joe come on.🙄
Is China back to normal? Had their stock market oversold like ours? China is also giving investors hope.
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Outages and delays mar new small business loan programThe system the Small Business Administration is using to establish coronavirus relief loans was not functioning for most of Monday, banking executives said. Yet Trump lies saying everything is Incredibly going on well. Kat_Missouri Bullshit. Maybe not use Internet Explorer? Have your brain dead reporters ask some real questions & get some real answers.
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Big Banks Favor Certain Customers in $350 Billion Small-Business Loan ProgramThe big banks’ decision to focus on existing customers could hurt smaller and minority-owned businesses that are less likely to have accounts with them, as well as businesses in rural areas where they have fewer branches 'GET WELL SOON' Boris BorisJohnson was admitted to the hospital due to coronavirus I am shocked to hear billionaire big banks are going to screw over little people after receiving hundreds of billions of dollars in taxpayer money. Shocked, I tell you. We just need to pull ourselves up by our bootstraps, or whatever. Why don't these banks ever bail us out? This a method to hurt the small minority owned business I have a Contracting firm. I know do a story on me A New World Contracting Co.
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How to Apply for a Small Business Loan Through the Coronavirus Stimulus PackageThe $2 trillion stimulus package allocates $350 million for the Paycheck Protection Program.
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U.S. banks grapple with system glitches, paperwork snags as small-business program ends fourth dayThe U.S. government's $350 billion small-business rescue program was plagued by paperwork and technical issues as it lurched to the end of a fourth day on Monday, with some banks experiencing major glitches with the processing system, according to industry groups, bankers and an email seen by Reuters. thebearablebull Don't make a bank run they said thebearablebull XRP Thousands of successful applications. A handful of glitches. Which does the fake news media highlight?
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Fed Preparing to Purchase New Small Business Payroll LoansThe Federal Reserve said it would launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program, according to people familiar with the matter NeverTrumpers GregMannarino
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