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Certifiably Surly
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  1. News reported 90billion in small business loan applications have been approved as of today. Doubt that has been distributed.
  2. If some of you need to access to your own capital per Cares Act: Each person can withdraw up to 100k from any of their retirement accounts free of tax, penalties and interest so long as you pay back in 3 years. or Each person can borrow from their solo 401k up to 100k and you get 1 year deferral from payments and from last day of deferral 5 years to make quarterly payments.
  3. Big bank or community bank? Any way you can tell us who they bank with? Approx size of the loan and industry?
  4. Bankers: We have options to file with Chase and several community banks. At the end of the day aren't the big banks still using their algorithm/software, as their front line, to accept or deny applications? I get its SBA, backed, but wouldn't this loan like most others, for small business, be more likely approved at a bank that is non algorithm/software screened which more often than not is a small bank?
  5. My banker said Monday. Apparently they are waiting on a big meeting over the weekend before its a go for them. She said most banks holding off until then. Besides BofA taking apps today I know Frost did also. It could be competitor bullshit but our banker said BofA is asking for additional items. I wouldn't put it past the big boys to pull rank and ask to be first in line.
  6. Someone should put ou's plays on a pad and send it to the top d coordinators and ask how to stop it.
  7. The U.S. is panicking with over 160,000 ventilators. Mexico has a whopping 4000.
  8. You obviously do not deal with the IRS on a regular basis.
  9. Hence why you would pay off the LOC, as you suggested, using the new sba loan. Eg. Equipment or paying any long term debt with bad terms put on the LOC also with bad terms but that can be paid due to being short term, with SBA. Its not for everyone but certainly a play that i'm certain will happen.
  10. Yeah, well i'm sure some will use the LOC to pay down all kinds of debt even long term debt (which you can't use the loan for) and get better terms. Just my balance sheet mind swirling.
  11. @blacklab Hey man thought of you when i saw the website above. Restaurants new leads for help with their new need for customers to buy online? At least they are thingking about right now.
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