We submit our application within an hour of them accepting them.
I’m super fucking bummed y’all. We’ve been paying our staff to stay at home and don’t know how much longer we can do it.
Today is the first time I feel like we might not make it.
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I sure hope the voters remember it was the Democrats who blocked adding more money.
You’ve heard of Chase screwing over conservatives in the past, right? Closing accounts and the like. A few years ago. Has your company or you taken a stance on conservative issues?
Never publicly.
I would never do this as well. Certainly some of our clients know my personal position on things but even with them I don't jump on the Trump train unless they do first. We get a lot of business through advertising with a few churches so, believe it or not, I rarely run into lefties. (basically useless for now)
I’ll take this into consideration.
Why don't you guys qualify?
We do. They apparently ran out of money before they processed our request. I wish I had a great answer like we owe taxes or have felonies. It would be easier to swallow but we don’t.
I don’t get it. I’d be interested to see how many loans chase funded.
Many many billions.
That’s what they are talking about when POTUS says that the dems in Congress are preventing more funds.
Funds for it got used up and Congress is sitting on their butts.
Why didn't you qualify? I feel like they're giving that BS to a lot of businesses. Sort of defeats the purpose...
My company is probably fucked too. We were coming out of the slow season gearing up to be busy and this hit... we're out of money as of yesterday, layoffs coming unless PPP hits, and that only buys us two months...so we're fucked too.
Would you mind telling me what bank and post if you get funded. My banker made it seem like if you’re not funded already, you’re not getting funded. Unless they pass the new 250B addition.
That might be the case, I dunno. I haven't dealt with it, I'm just an employee in the know.
"Sorry, funds are out!"
Thanks Dems...
I would write jarred or ivanka... or speak to your congress person.
Awe sorry pede. My brother already got his loan and deposited it..Not sure why he got his so fast...Don't lose hope.
So sorry, but Chase is such a horrible bank. This has no reflection on the program, just on Chase. Hundreds of thousands of other small businesses got their PPP funding starting last week. Try talking to your small local bank tomorrow to see if they can help you. It might not be too late.
Sorry Pede - waiting on mine - not looking good.
If your bank wasn’t on top of things you got left out.
Apparently we did.
Does this have something to do with it?
https://sbacsr.podbean.com/e/sba-csr-agent-breaks-down-sba-false-hope-1586489786/
That sucks bigly, fren. Hopefully the TrumpBux will help your employees get by until either Congress gets it shit together or your state re-opens. Sorry to hear it.
I had an issue with chase once and emailed Jamie Dimon directly. I got his secretary who handled everything. Might be worth a shot.
Thank you for this. I will.
Kabbage, Radius Bank NorthOne, Fountainhead and Ready Capital, Paypal. Hope that helps. The big boys are all playing games from what I hear.
I have tried to launch a business and even starting is hard. Good luck.
Chase left me a message last week. I didn't respond as we don't need the funds and are still operating with little difference from last year. (Construction) Only thing I've noticed is our residential side is slower. It's partially related to the Chinese Virus but the weather has been poor which likely plays a roll as well.
Sorry to hear about your troubles. Write your congress person and push for more funding. It's the only way to get Piglosi to act. Should have all your employees calling as well.
Praying Gov Abbott and subsequently various mayors allow DFW back up open for you by end of week/monday OP.
TX was a bit of a womp womp in terms of COVID19.
I’ll pray for you Pede and have faith you’re company and employees are taken care of.
This is all on Congress. However, stay positive and maybe we'll be out of this sooner than later
Thank the fuckin democrats
chase didn’t move on our PPP SBA loan either. Went to Chemical Bank and they got it done. Chase seemed very unenthusiastic about the prospect of submitting our application. Sorry to hear about your issue.
Also, the government shut me down while I didn’t break any laws. It’s the least they can fucking do.
Ignore King, he's a cunt who can't ever seem to follow rule 5
I also have a business (over 20 yrs old) and saw 75% of my income from service contracts disappear over a single weekend.
It was tough to do, but after weighing the risks my employees had to be let go. The best long term option came down to protecting the ability of the business to survive so a return to their jobs would be more likely. It just made more sense to let them apply for the extended benefits of unemployment immediately as opposed to hemorrhaging cash to pay them to do nothing.
If I made the right decision, not only will I keep the small amount of business I still have, but will have the capital to rebuild quickly if old customers do come knocking. This may take a few months, but is still more desirable than the alternative that you’re facing now.
Not knowing the sector you’re in, it’s hard to give you advice on the right move going forward. If you’re dead set on helping your employees and you think your income will return, call the bank and get a business loan while attenuating the employees salary. If you aren’t sure about the health of your business in the future, the decision to cut ties and give them a small severance is prudent.
We care about our employees and their families. The rent and mortgage on the locations is not the issue. It’s the payroll. Unemployment payments don’t cut it.
Just open.
Contact your clients and let them know you're open. Put your people back to work. What's the downside? You get shut down and lose your business? You're going to lose your business anyway. Fuck it.
Have been working with clients on PPP and EIDL loans for a couple of weeks. Just began seeing funds come through. Don't know the size of your company, but EIDL may be an option so it's worth a look. You apply on the SBA website - no bank in between.