PPP FUNDS RECEIVED

[Lee B]

I have spent the last 4 weeks babysitting 2 PPP Loan Applications thru 2 FinTech Companies for my 2nd largest client.

Finally today,one of the loans finalized and the funds were deposited in my client's checking account today. 

What a frustrating experience, hours of dealing with poorly designed websites, days of waiting with no feedback.

Too many phone calls, talking to people who only knew the basics of what they were trying to do.

All because the large regional bank, where my client has been a customer for over 20 years gave my client no help, no encouragement, and didn't even return phone calls.

I did my first application for my largest client with a small local bank back on April 2nd, it took me an hour at most, a piece of cake.

The documentation requirements for these last two applications increased exponentially.

Now all I have to do is fill out the forgiveness applications, which appears to be way more challenging!

I really need a vacation !

[Gail in Virginia]

I would have preferred not to be involved in loan applications, except for providing numbers if needed.  However, my experience has been similar to yours.  A large regional bank had a web portal everything had to be filed through, and no ability to actually talk to a person to see if they had everything they needed or where the process was at, or how long to expect it to take.  Another few clients had small local banks, were able to navigate the process on their own, at least mostly, and had their money within a week.  The larger bank took almost a month. 

And one of the largest law firms in the area was doing commercials that told people to contact their accountant about getting a loan to help them through these difficult  times.  I wanted to call them and tell them I was not a banker.