The federal government’s $350 billion small business loan program got off to a rocky start Friday, with some of the nation’s biggest lenders saying they weren’t yet able to process loan applications, frustrating business owners struggling to stay afloat.
“It’s frustrating,” said Chip Grabow, the owner of Radio Roasters Coffee, a specialty coffee roasting company in Decatur, Ga. Mr. Grabow scrambled this week to gather the documents he needed to apply for a loan, but isn’t sure when his bank, JPMorgan Chase & Co., will...
BankofAmerica and other banks are purposely only funneling PPPloan fund to debt holders, to avoid defaults on their payments. All banks are prioritizing debt holders to receive PPPloan funds first, and help avoid defaults.
If the businesses are still on lockdown, how are the disbursed loans to be applied to business?
😭
That said, Bank of America requires that you have a business credit card and business loan with them to get PPP. We have been business and personal clients for many years and now get basically shut out.
'Gotcha moments' have replaced actual journalism. Hacks
Yep hey WellsFargo still waiting ugh! Customer since 1992...come on!!!
Biggest lenders are so full of it. They CAN process.
Well that sucks banks. Get your shit together or get out of the way. 🤔
If a small business is failing, why would they take out a loan to continue failing?
too much complications
Maybe I should find out just how little they told you.
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