Is this purgatory...?
I What is the point of this site? How do you locate anyone for anything? I submitted my PPP app along with the required documents.. what's next?
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Zendesk is their helpdesk provider. I'm guessing that they're new to this, or have a different approach than your average bank, because it definitely not usual for us to be able to make posts and communicate with each other like this. Anyway, I seem to have joined you in purgatory.
I supposedly submitted an application through Gusto/Crossriver on Friday, and after multiple crashes and redoing most of the application several times, reached a page that said my application had been submitted. I received no confirmation email, and returning to the page led me to a notice that my application was under review and that I should receive a response within 48-72 hours. It will have been 72 hours about a half hour from now. Do I know that because I got some kind of confirmation or response? No. I know it because I sent a friend a text telling him that after more than a week, I'd finally gotten someone to take an application from me, and just looked back at the thread to figure it out.
So while very purgatory-like, that's still a better response than I got from two banks with which I have extensive relationships, Chase and Wells Fargo. Both took contact info for interest, and updated me over the week that I couldn't yet apply, and then finally Chase on Friday (April 10) invited me to apply and at the first page gave me a message that they could not accept an application from my business without giving me a reason. WF still hasn't accepted an application, nor have the local banks in my area.
According to the SBA and every bank with information posted about the PPP loan, once a bank has accepted an application, we should not apply to another bank, as the applications could be flagged for fraud.
This presents a problem, because, as the title of your post indicates, have our applications been accepted? Who knows. I have no application number, but have a "key code" associated with the web link I completed the application at, hardly confidence-inspiring.
Now I have a login at the bank's helpdesk, which isn't even bank-branded, an open ticket asking what is up with the application I've supposedly submitted, and advice that I probably shouldn't submit another application to a different bank, even if invited, because of the strange place that we find ourselves.
Also, in case anyone has read this far, I submitted an ERDL loan request to SBA, which sent me to a page with an application number, no email, and no way to save the documentation except for print screen.
We're not alone. I recommend that everyone go here and submit data about your experience:
https://www.covidloantracker.com/
According to the site, as of now (4/13/2020, 8:40 pm EDT), only 2.7% SBs have received PPP loans, 0.5% SBs have received EIDL grants and 46,591 employees are at-risk without payments.
That's not very encouraging.
Jon Kuniholm
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