![]() ![]() Also, the Treasury issued a new Interim Final Rule addressing the requirements for the self-employed when applying for the PPP loan.Those who have already received the EIDL Advance have reported getting this email three days before funding. I did receive the random email from the SBA officially confirming that the EIDL advance will be given out in $1,000 per employee increments. Still no word from Chase on my PPP loan application.One for the amount of my approved PPP loan, and one for $2,000 ($1,000 for each of my employees), which I’m assuming is the EIDL advance. This morning I got funded! I just noticed a couple of new pending deposits into my business checking account. ![]() The email stated that “Chase will deposit your loan funds into your oldest Chase Business Banking checking account within the next three business days.” Yesterday at 4:15 PM I received an email from Chase that one of my PPP loans had been approved.I strongly suggest you consider doing the same. But this is the choice I’m left with, and I’m only sorry I didn’t do this earlier. Yes, this means I’m making multiple PPP applications. Yes, at both places, for both businesses. So today I’m starting the process of applying with Bluevine through Nav.com and LoanBuilder by PayPal.Had I known Chase wasn’t going to fund me – which we now know they prioritized certain businesses over others and didn’t fund loans in order of application – I would have applied elsewhere.While I was able to get one loan funded through them, my other two (larger) loans didn’t get funded AND they never told me otherwise. They left me in the dark throughout the entire process. While I’m disappointed that the funds ran out so quickly, I’m mostly disappointed in my business banker, Chase. ![]() I’m hopeful Congress will appropriate more funds next week, but I would not be surprised if it takes longer or the extra funds never materialize.
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