Small Business Disaster Relief

[Charles]

Supposedly my documents will be ready today and funds available tomorrow according to my banker. If he's blowing smoke where smoke doesn't belong, I'll quit him Monday.

[miket]

Has anybody seen when Congress is going to revisit this? I see no new info. Are they adjoured right now?

[Charles]

Has anybody seen when Congress is going to revisit this? I see no new info. Are they adjoured right now?

The wicked witch of the west is playing politics and holding up any additional funding.

I hope that ***** rots in hell!

[jnors06]

PPP money has dried up. Chase pooched us good as their process took to long. We submitted everything early last week. Recieved confirmation etc. Today we get email saying sorry funds dried up.....but your application will be ready should gov approve more.

Sucks

We deal with Chase and got the same type of service. Very unhappy and will not be dealing with them any more. Won't be dealing with anyone i guess if we can't stay in business.

[Landrover]

Wow, I am on a industry conference call...…...the average loan amount of the first round was $250,000, and the majority of larger PPP amounts fell into the construction realm. Most well known or large banks worked with their LONG TERM customers first and those were usually significantly larger business' in that banks portfolio. It is being surmised that most banks wanted to handle large qualified requests as it takes the same amount of work to do either size. Thus, do 100 larger customer requests instead of 1,000 small customers. Less workload and time and still make the same amount of money as a middleman for the government. Makes sense but another sad situation for the small business owner. It is being cited that 10,000 Houston area restaurants will not re-open after this.

[Mike]

It is being cited that 10,000 Houston area restaurants will not re-open after this.

This is very sad, just unbelievable.

[Mike]

First Financial is advertising locally that they provided $646M in 4,900 loans. That's about $139K average.

[schmalzy]

Yep, thinking about changing banks. Been with them a long time mainly out of convenience and everyone at my local branch knows me. Pretty frustrating.

Same here. Done with Chase. Frost has been very responsive so far.


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[rvd]

Same here. Done with Chase. Frost has been very responsive so far.


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Frost, Prosperity, and First Financial are all Texas banks that are large enough to take care of most small businesses.

[TN_boy]

RBFCU stopped taking applications last week.
Report on the radio was stating that funds were already running out.

[speck1]

I have had my business account thru Frost for 25 years. I was pretty upset earlier in the week because i had not heard anything on my PPP app which was submitted within 15 minutes on the first day. Lots of my friends had already been funded thru other banks. In the end they got it done for us. Sign on Monday. I probably owe Frost an apology for some of my emails. I hope they add more funds and everyone gets covered. It’s the only way a lot of small business will survive.

[mjhaverkamp]

First Financial is advertising locally that they provided $646M in 4,900 loans. That's about $139K average.

I been with FF since they opened the doors, great bank with a family atmosphere.

[gemini2759]

Well I'll be. Got a call from ibc today that my wife's ppp loan was approved by ibc. Plains capitol, however, emailed yesterday that the ppp for the family restaurant was denied because the government was out of money even though it was turned in a few days before my wife's business application.

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[rvd]

Well I'll be. Got a call from ibc today that my wife's ppp loan was approved by ibc. Plains capitol, however, emailed yesterday that the ppp for the family restaurant was denied because the government was out of money even though it was turned in a few days before my wife's business application.

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That’s really hard to understand.

[texas shag]

Chase denied my business, but I promptly applied through my smaller local bank and got notice of approval today. Still waiting on my wife's business through bank of america....last conversation was that it was progressing in a positive direction, hope to hear something early next week.

I can tell you I will be closing my accounts with Chase. This was the straw that broke the camel's back.