Hey Small Business Owners...What are you doing to ride the storm out?

[Mr. Plow]

Originally Posted by KingKong

How about a list of businesses or if a contractor trades. I probably don’t need something in everyone’s line of work but if I do and know where to go I would be more than willing to direct my business in your directions to help out if I can.

If we can get that on here I will start picking options from that list as priority

Great idea. Might double check with mods to make sure they don't care.

[DaFace]

Originally Posted by Mr. Plow

Great idea. Might double check with mods to make sure they don't care.

No issues at all from my perspective (though I'd probably suggest a new thread for it for visibility).

The one minor caveat is that we have some ****ing idiots around here, so if you're the type to get into pissing matches with people on here, think twice about putting your business out there for someone to retaliate against.

[Mr. Plow]

Originally Posted by chiefforlife

**** Chase Bank!!

Ok, I have had a 15 year business relationship with Chase bank.

I have my building loan with them (2 million dollars), I have both my business accounts, personal, 2nd mortgage (cabin), Wifes auto loan, business line of credit, Credit card processing. So literally like 8 accounts with them.

I applied on April 3rd within the first hour of it opening, was told I could only get in the Que. On April 7th was told to go ahead and fill out the application, again in the first hour of it opening.
3 days after the first round ran OUT of money was told sorry but they did get 300,000 loans approved, just not mine.
However I could remain in the "process" in case there was a second round of funding, which of course I did.

In the meantime I contacted a smaller bank, First National Bank of Omaha, which a few of my business friends had used and DID receive funding on the first round.

They were super responsive and helpful, told me to go ahead and open a business checking account and apply for the PPP loan so if there was a second round I would be ready and they would as well.

As we all know, the second round opened up Monday. Tuesday morning a received a call from them saying I had been approved. I received my "Docusign" loan papers today (Thursday) and have completed them. Should be funded within 72 hours.

Without exaggeration, these funds will probably save my business and I was in pretty good shape as far as reserve funds though they were drying up quickly.

I still havent heard anything from Chase other than my loan was submitted to the SBA and they will let me know. The email literally says DONT call or Email us!

So, what else is there to say other than Chase does NOT value its small business' and are willing to sacrifice them in order to take care of their larger customers, many of whom did NOT need the help.

I get it, they were just doing what they felt was best for their business. Well now I will be doing what I feel is best for mine. Good bye Chase Bank!

Glad to hear you got it and your business gets to keep chugging along. I absolutely hate hearing about these small businesses that are closing up because they didn't get their funding.

Sucks that Chase let you down, but you might have a good future with this small bank that will actually care about your business. I've got a similar issue on our building note with our old, bigger bank that forced us to move to the bank we're at now.

Extremely happy about where we're at now.

[chiefforlife]

Originally Posted by Mr. Plow

Glad to hear you got it and your business gets to keep chugging along. I absolutely hate hearing about these small businesses that are closing up because they didn't get their funding.

Sucks that Chase let you down, but you might have a good future with this small bank that will actually care about your business. I've got a similar issue on our building note with our old, bigger bank that forced us to move to the bank we're at now.

Extremely happy about where we're at now.

Thanks Mr. Plow, I appreciate it buddy.

Chase used to be good, I knew my Banker on a first name basis for years. After he left it has been a revolving door for the last 5-6 years. I have never even met the new lady that I was dealing with.
The first thing I asked the guy at the new bank was how long he had been there, 27 years. Since we are locked down and the bank lobby is not open, he sent a guy to my shop with the paperwork to open a new account within 30 minutes of our initial conversation.
Also, he personally called me to tell me that my PPP had been approved (not an Email). I have been very impressed with the level of service so far. Grateful I made the decision not to wait on Chase.

This place, Chiefsplanet, can be pretty ****ed up at times (lol) but this thread strangely was helpful by so many people that Id like to say Thanks to all that have posted. I received a bunch of good info here and I hope my situation can help others as well.

GO CHIEFS!!!

[SAUTO]

Originally Posted by chiefforlife

Thanks Mr. Plow, I appreciate it buddy.

Chase used to be good, I knew my Banker on a first name basis for years. After he left it has been a revolving door for the last 5-6 years. I have never even met the new lady that I was dealing with.
The first thing I asked the guy at the new bank was how long he had been there, 27 years. Since we are locked down and the bank lobby is not open, he sent a guy to my shop with the paperwork to open a new account within 30 minutes of our initial conversation.
Also, he personally called me to tell me that my PPP had been approved (not an Email). I have been very impressed with the level of service so far. Grateful I made the decision not to wait on Chase.

This place, Chiefsplanet, can be pretty ****ed up at times (lol) but this thread strangely was helpful by so many people that Id like to say Thanks to all that have posted. I received a bunch of good info here and I hope my situation can help others as well.

GO CHIEFS!!!

my local bank is the same way. old banker left and the new guys suck ass

[Mr. Plow]

Originally Posted by chiefforlife

Thanks Mr. Plow, I appreciate it buddy.

Chase used to be good, I knew my Banker on a first name basis for years. After he left it has been a revolving door for the last 5-6 years. I have never even met the new lady that I was dealing with.
The first thing I asked the guy at the new bank was how long he had been there, 27 years. Since we are locked down and the bank lobby is not open, he sent a guy to my shop with the paperwork to open a new account within 30 minutes of our initial conversation.
Also, he personally called me to tell me that my PPP had been approved (not an Email). I have been very impressed with the level of service so far. Grateful I made the decision not to wait on Chase.

This place, Chiefsplanet, can be pretty ****ed up at times (lol) but this thread strangely was helpful by so many people that Id like to say Thanks to all that have posted. I received a bunch of good info here and I hope my situation can help others as well.

GO CHIEFS!!!

My parents originally bought this business back in 96. My dad sold it to me in Jan. of 2019. The note on my building was under my dad's name & I was a secondary on it. When I was making the purchase, we wanted to put the note under my name, with my dad as secondary. Same people are responsible, just in a different order. Our old bank, which we'd been with for 20+ years said they wouldn't do it. No reason why. Just flat out no.

So, we asked the banker who did the original mortgage on the building at the old bank who had moved to this smaller bank to do it. He was at our office that afternoon with the paperwork to get it done. Pulled all of our business accounts from old bank the next week and I took all of my personal from them as well.

[blake5676]

Originally Posted by chiefforlife

**** Chase Bank!!

Ok, I have had a 15 year business relationship with Chase bank.

I have my building loan with them (2 million dollars), I have both my business accounts, personal, 2nd mortgage (cabin), Wifes auto loan, business line of credit, Credit card processing. So literally like 8 accounts with them.

I applied on April 3rd within the first hour of it opening, was told I could only get in the Que. On April 7th was told to go ahead and fill out the application, again in the first hour of it opening.
3 days after the first round ran OUT of money was told sorry but they did get 300,000 loans approved, just not mine.
However I could remain in the "process" in case there was a second round of funding, which of course I did.

In the meantime I contacted a smaller bank, First National Bank of Omaha, which a few of my business friends had used and DID receive funding on the first round.

They were super responsive and helpful, told me to go ahead and open a business checking account and apply for the PPP loan so if there was a second round I would be ready and they would as well.

As we all know, the second round opened up Monday. Tuesday morning a received a call from them saying I had been approved. I received my "Docusign" loan papers today (Thursday) and have completed them. Should be funded within 72 hours.

Without exaggeration, these funds will probably save my business and I was in pretty good shape as far as reserve funds though they were drying up quickly.

I still havent heard anything from Chase other than my loan was submitted to the SBA and they will let me know. The email literally says DONT call or Email us!

So, what else is there to say other than Chase does NOT value its small business' and are willing to sacrifice them in order to take care of their larger customers, many of whom did NOT need the help.

I get it, they were just doing what they felt was best for their business. Well now I will be doing what I feel is best for mine. Good bye Chase Bank!

I'm in a somewhat similar situation, albeit with different account numbers, etc. I've business banked with BOA for 12 years, wife and I have our personal accounts there, multiple CC's, car loan history, etc. I applied for my business day 2 (April 4). It's been horrible ever since.

Obviously didn't get funded first go round. Have strongly considered pulling my app and going to a different small local bank, but afraid that might mess up the process if I'm already in the SBA system. Which I have no way of knowing bc BOA doesn't answer any, and I mean any, questions when inquiring. Have been told my application is accepted by BOA for weeks, got email that it was submitted to SBA finally on Monday. Crickets again ever since. I read they sent a batch of like 175,000 applications at once on Monday. There's literally no way of knowing if you in the queue, if they actually reviewed your numbers/amounts on the app, etc. Crossing my fingers that since I'm supposedly submitted that I will actually be funded this 2nd round. And I'm anxiously awaiting the money being deposited so that I can turn around and tell BOA to suck my ass. No idea other than convenience that it's basically next door for why I've stayed with them so long.

[chiefforlife]

Originally Posted by blake5676

I'm in a somewhat similar situation, albeit with different account numbers, etc. I've business banked with BOA for 12 years, wife and I have our personal accounts there, multiple CC's, car loan history, etc. I applied for my business day 2 (April 4). It's been horrible ever since.

Obviously didn't get funded first go round. Have strongly considered pulling my app and going to a different small local bank, but afraid that might mess up the process if I'm already in the SBA system. Which I have no way of knowing bc BOA doesn't answer any, and I mean any, questions when inquiring. Have been told my application is accepted by BOA for weeks, got email that it was submitted to SBA finally on Monday. Crickets again ever since. I read they sent a batch of like 175,000 applications at once on Monday. There's literally no way of knowing if you in the queue, if they actually reviewed your numbers/amounts on the app, etc. Crossing my fingers that since I'm supposedly submitted that I will actually be funded this 2nd round. And I'm anxiously awaiting the money being deposited so that I can turn around and tell BOA to suck my ass. No idea other than convenience that it's basically next door for why I've stayed with them so long.

I wouldnt wait on BOA, go to a small bank ASAP. I have heard that Wells Fargo BOA and Chase have all let their smaller customers hanging.
I will be funded by the time I hear from Chase. I was worried about the same thing and also thought, I was in on the first day, first hour of the opening. Surely Chase will come through before this other bank.
It wasnt even close as previously stated.
Look, I know how much this probably means to you, checking for Emails from the bank every five minutes.
Find out which small bank in your area is having success and run to them. It wont mess up the status of your loan with BOA and whomever gets it first.

This is to important not to. Good luck fellow Chief fan!

[Boise_Chief]

Originally Posted by chiefforlife

I wouldnt wait on BOA, go to a small bank ASAP. I have heard that Wells Fargo BOA and Chase have all let their smaller customers hanging.
I will be funded by the time I hear from Chase. I was worried about the same thing and also thought, I was in on the first day, first hour of the opening. Surely Chase will come through before this other bank.
It wasnt even close as previously stated.
Look, I know how much this probably means to you, checking for Emails from the bank every five minutes.
Find out which small bank in your area is having success and run to them. It wont mess up the status of your loan with BOA and whomever gets it first.

This is to important not to. Good luck fellow Chief fan!

I used a smallish credit union 8 days from apication to final paperwork. My accountant recommended staying away from big banks.

[dlphg9]

Im so glad I went the small bank route. Those big banks can suck a fat one. ****ing LA Lakers got a PPP loan lol. How does that happen.

[Trivers]

We just had $1000 pop into our commercial real estate mgt checking account.

Reads SBA. in the notes

We only claimed one employee.

So it appears the EIDL grant was granted.

No phone call, no email, no paper notice. Nothing.

[Papachief]

Got confirmation today and signed loan docs from Wells Fargo no less. Feel like I won the lottery with them. Just like the others with big banks WF has Ben unbelievably terrible to work with. Been with them for 21 years and as soon as I’m finished with the loan process and the forgiveness I’m switching to a small bank.

[dlphg9]

Went and signed my loan papers today. It has the funding date as April 28th lol, so it was approved like a day or 2 after I applied.

[mililo4cpa]

Been very busy at work, so hadn't had time to post much in past week or so....Hope all is going well with everyone. Nice to see things starting to loosen up a little bit, but we're not out of the woods by any stretch...Hang in there guys!