[sigmundpannu]

Here is a good link Mark Cuban shared on LinkedIn - https://www.covidloantracker.com/

[MCA]

The $1200 stimulus checks are just now rolling out, some won't see those until August and you think the Govt will deploy the $350B in weeks, not a chance. Anything the Govt touches is a mess, "those who can't, work in the govt" we will all see this now.

[cmarks]

The $1200 stimulus checks are just now rolling out, some won't see those until August and you think the Govt will deploy the $350B in weeks, not a chance. Anything the Govt touches is a mess, "those who can't, work in the govt" we will all see this now.

checks in the mail yes could take extra time but i already got my $1200 yesterday. Also, those without bank accounts linked to the IRS can update that in the next few days.
Oh and Chase says they Sent 9.3 billion already for PPP
https://www.washingtonpost.com/busin...s-coronavirus/

[Kevin Henry-Seacoast]

checks in the mail yes could take extra time but i already got my $1200 yesterday. Also, those without bank accounts linked to the IRS can update that in the next few days.
Oh and Chase says they Sent 9.3 billion already for PPP
https://www.washingtonpost.com/busin...s-coronavirus/

I like the way Chris jumps into the forum with bad information an then runs away...... The $1200 was part of the personal stimulus those who qualify will receive by wire if they are set up with the IRS or check which will take much longer. I am not eligible for the personal stimulus. Chase has processed and sent less than 30% of loans that have applied. When will the other 70% that have applied get their funds. Probably sometime after the next round of stimulus is approved. Good to see some folks have received some funds personally and for some businesses, but this again is throwing a deck chair off the Queen Mary.

[cmarks]

I like the way Chris jumps into the forum with bad information an then runs away...... The $1200 was part of the personal stimulus those who qualify will receive by wire if they are set up with the IRS or check which will take much longer. I am not eligible for the personal stimulus. Chase has processed and sent less than 30% of loans that have applied. When will the other 70% that have applied get their funds. Probably sometime after the next round of stimulus is approved. Good to see some folks have received some funds personally and for some businesses, but this again is throwing a deck chair off the Queen Mary.

Not sure how you can misunderstand but which part was bad info? i clearly was referring to the personal stimulus and direct deposit, thats why i said people who didnt have that setup could soon upload their account info on website. The point was, and as much as i dont like this administration, things are moving and although not fast enough its very difficult to do programs this size quickly. Most checks that need to be mailed wont take months to go out, id say by beg of May.

Again, you said people would be lucky to get ppp money by June, but you move the goal post by saying most funds not disbursed.. Banks have 10 days to payout funds once sba have approval number. Im sure you know that by now.

Like Inacio said, several of you are so negative thats it not worth the energy to come on here. You have been wrong about a number of things from the getgo but stick to your narrative of your initial outlook.

Tell us, how much would a bank have to be paid in fees and int rates for it to 'be worth the squeeze'?
I never said its going to make them a margin that they are used to making, as they Should Not in this case, since its all getting paid back to them, at least thats the intent of the bill but with some things that had to be fixed.

Another 310 billion coming going through the 5,000 approved lenders.

You and westcoast can battle all day long, I would think you have more pressing things to do.

[WestCoastFunding]

checks in the mail yes could take extra time but i already got my $1200 yesterday. Also, those without bank accounts linked to the IRS can update that in the next few days.
Oh and Chase says they Sent 9.3 billion already for PPP
https://www.washingtonpost.com/busin...s-coronavirus/

Really awesome of Chase to fund their own customers. You better believe the ones they’ve funded have debt to Chase either in the form of a loan or credit cards — regardless of what they claim.

[Kevin Henry-Seacoast]

Really awesome of Chase to fund their own customers. You better believe the ones they’ve funded have debt to Chase either in the form of a loan or credit cards — regardless of what they claim.

Not to mention some of their best customers.......

[WestCoastFunding]

Not to mention some of their best customers.......

Of course. Anyone who thinks participating lenders are handling these on first come, first serve basis are fooling themselves. They are taking care of best relationships first.

[WestCoastFunding]

The $1200 stimulus checks are just now rolling out, some won't see those until August and you think the Govt will deploy the $350B in weeks, not a chance. Anything the Govt touches is a mess, "those who can't, work in the govt" we will all see this now.

Let keep in mind that the PPP was designed to have funds deployed to customers in 24-48 hours.

[Yankeeman07]

False Claims Act Liability - another issue facing banks.

https://www.manatt.com/Insights/News...rs-Participati

[Kevin Henry-Seacoast]

False Claims Act Liability - another issue facing banks.

https://www.manatt.com/Insights/News...rs-Participati

There is a HUGE liability for banks taking on PPP for non-bank customers. Know your customers rules apply.

[Winning]

So the big companies that are publically traded are getting a mulligan (as long as they take it within 2 weeks)....

This is crazy! I didn't have any faith that this was going to pan out right in the 1st place....

https://www.cnbc.com/2020/04/23/us-i...get-funds.html

US issues new guidance for small business loans, pressures public companies to return funds

Companies applying for coronavirus relief funds must certify that the loans are necessary and that they cannot tap other sources of funding, the SBA said. By definition, public companies have access to the capital markets. For instance, Shake Shack returned the $10 million it got through the PPP after it sold $150 million in new shares.

In a key detail, the SBA indicated that large public companies who tapped the PPP before the rule change can avoid scrutiny by returning the relief loans in two weeks.

https://www.cnbc.com/2020/04/23/us-i...get-funds.html