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I'm an attorney and I assisted five companies with PPP applications. Three of them were with Chase. Those three all applied immediately upon Chase opening up t
by pwned1 7y ago
I'm an attorney and I assisted five companies with PPP applications.
Three of them were with Chase. Those three all applied immediately upon Chase opening up the application process. The loans were "processed" in descending order in terms of the amount asked for, NOT in the order in which they were submitted. None of the requests was over $200,000. All three were still "in process" when the money ran out, over a week after the applications were entered. Those three clients are stuck, hoping that their applications will be funded when the additional funding is approved.
The two that I assisted with that were not with chase were with a local credit union. Both were submitted only a day before the money ran out and both were approved and have been funded.
Something clearly went wrong at Chase.
- CPLX 7y agoFair enough, and to the extent this article is focused on Chase specifically perhaps my comment is attached to the wrong HN discussion, and should apply more broadly to the general PPP conversation, which has seemed a little confused this week.