Does anyone know a Small financial institution that can help us apply for the Paycheck Protection Program?
We're a small business located in the Bronx, NY and our bank, Chase, told us we can go to any other institution to apply because they had 100,000 applications ahead of us. I heard it might be better to apply to through small financial institution. Any advice?
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Answers (1-10)
It was very simple took me 10 minutes. By the end of the day I signed documents. just waiting for it to be sent to the SBA when they accept applications, which I believe they will starting Monday. Keep it simple, otherwise you will have issues with application with a possible denial. Take the information straight from your 940, and or w-3 it tells the annual income for 2019. you divide that by 12 which will give you the average, then times that by 2.5. Just say it's for payroll. I notice people keying in the funds for other uses, another way to toss yor app. I know this because my dad is an accountant and has been guiding all his business clients, while proving the right documentation. Feel free to contact me, if you have other questions. Happy to help! Scary times of what is going on. Good Luck!
Try bluevine on line
Google blue vine try them
Go to www.throggsneckmerchants.com and sign up at the bottom of the page to subscribe. There are weekly zoom calls for small businesses with guidance on how to apply for the various grants and loans and you can ask your questions. Guests include representatives of local politicians as well as financial institutions and CPAs. You do NOT have to be a member to receive this information and take part in the meetings.
No I was hoping to find an agency as well
Bank of America has been offering loans to small businesses through SBA loans and or the paycheck protection program. I can be reached at xxx xxx xxxx if u have any other questions.
Hi,
Chase is my bank and I am also in the Bronx and I received the same message from the bank. I was able to submit my application through PayPal. I was unable to submit an application anywhere else. Most of the other lenders even the SBA was not accepting application.I would be glad to discuss with you if you need any assistance, xxx-xxx-xxxx.
I left Chase years ago, Had a client who was sued in foreclosure by Chase SIX MONTHS after they sold the house and paid off the mortgage. I made a good fee which cost my client nothing, Chase had to pay us a nice amount for their insolence.
I used EAB now its Citibank,NA. My firm was just approved for that loan, but have not seen the $ yet. My recommendation is find someone who will give you personal attention, difficult because banks do not seem to treasure relationships like I do being in a service business Good luck
You should contact the sba.Gov/ppp
New Founding for PPP Loans ; Government add $310 Billion to paycheck
protection program,The new founding will take place soon put in your two cent soon as possible.