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The PPP is done through fdic insured institutions, such as banks. We have had clients receiving funding from disaster relief through SBA but I have not heard of anyone receiving funding through PPP yet. This application just opened on Friday with limited banks
ready to participate.
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<div>Bank of America started taking applications on Friday for existing clients that have deposit account, credit account and online sign-on. On Saturday they opened it up to business clients that may not have any lending, and on Sunday they opened it up to
clients with Merrill Lynch business accounts (WCMA). </div>
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<div>I have been told best word of advice is to approach the bank that provides your business lending. From what I gather banks are not using this as an opportunity to win new clients. Instead the goal is how can we roll this out most efficiently- through your
existing lending/operating provider. </div>
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<div>Hope this helps!</div>
<div><br>
<div>Please excuse this format from my mobile device.<br>
<br>
All the Best,<br>
Gregory T. Gillis, CPFA<br>
Financial Advisor<br>
Retirement Accredited Financial Advisor<br>
NMLS ID: 1564296 <br>
<br>
Merrill Lynch Wealth Management<br>
The Saviano & Gillis Group<br>
Merrill Lynch, Pierce, Fenner & Smith Inc.<br>
450 East Las Olas Boulevard, Suite 1000, Fort Lauderdale, FL 33301<br>
T 954.357.4508\u2003M 954.240.9731\u2003F 954.449.6077<br>
Gregory.Gillis@ml.com<br>
www.FA.ML.com/Gregory.Gillis</div>
<br>
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<div class="gw_quote" style="border-top:#b5c4df 1pt solid; padding-top:6px; font-size:14px">
<div><b>From: </b><span>Scott Bloom <<a href="mailto:Sbloom@bloomreg.com">Sbloom@bloomreg.com</a>></span></div>
<div><b>Date: </b><span>Monday, Apr 06, 2020, 10:26 AM</span></div>
<div><b>To: </b><span>William Skody <<a href="mailto:william@skodyscot.com">william@skodyscot.com</a>></span></div>
<div><b>Cc: </b><span>Freds List <<a href="mailto:fredslist@gothamnetworking.com">fredslist@gothamnetworking.com</a>></span></div>
<div><b>Subject: </b><span>Re: [Fredslist] Problems with JP Morgan Chase PPP website & process</span></div>
</div>
<br>
<div>
<div>The big banks (Chase May be the worst) have been slowest. </div>
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Smaller banks have done lots. My SBA guy has a client that received $ already. <br>
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<div><span style="font-size:13pt">Wishing you and yours Health,</span></div>
<div><span style="font-size:13pt"><br>
</span></div>
<div><span style="font-size:13pt">Scott M. Bloom</span></div>
<div><span style="font-size:13pt">Bloom Real Estate Group LLC</span></div>
<div><span style="font-size:13pt">10 Grand Central - 6th Floor</span></div>
<div><span style="font-size:13pt">New York, NY 10017</span></div>
<div>
<p class="MsoNormal" style="margin:0in 0in 0.0001pt"><font color="#000000"><span style=""><a href="tel:917-327-2109">917-327-2109</a></span></font></p>
<p class="MsoNormal" style="margin:0in 0in 0.0001pt"><font color="#000000"><span style=""><a href="mailto:sbloom@bloomreg.com">sbloom@bloomreg.com</a></span></font></p>
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<blockquote type="cite">On Apr 6, 2020, at 8:41 AM, William Skody <william@skodyscot.com> wrote:<br>
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<p class="MsoNormal"><span style="font-size:13.0pt; color:#44546A">PPP is $336 billion, and none of the banks are actually processing, they are just doing intake right now.</span></p>
<p class="MsoNormal"><span style="font-size:13.0pt; color:#44546A"> </span></p>
<div>
<p class="MsoNormal"><span style="color:#1F497D">Thanks,</span></p>
<p class="MsoNormal"><span style="color:#1F497D">William Skody, CPA for nonprofits</span></p>
<p class="MsoNormal"><span style="color:#1F497D">T(212) 967-1100 x202</span></p>
<p class="MsoNormal"><b><span style="color:#1F497D"> </span></b></p>
<p class="MsoNormal"><b><span style="color:#1F497D">SKODY SCOT & COMPANY, CPAs PC</span></b></p>
<p class="MsoNormal"><b><span style="color:#1F497D">520 8th Avenue, Suite 2200, NY NY 10018</span></b></p>
<p class="MsoNormal"><span style="color:#1F497D"> </span></p>
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<p class="MsoNormal"><b>From:</b> Raj Goel <raj@brainlink.com> <br>
<b>Sent:</b> Friday, April 3, 2020 4:36 PM<br>
<b>To:</b> Freds List <fredslist@gothamnetworking.com><br>
<b>Subject:</b> [Fredslist] Problems with JP Morgan Chase PPP website & process</p>
</div>
</div>
<p class="MsoNormal"> </p>
<p class="MsoNormal">Gotham,</p>
<p class="MsoNormal"> </p>
<p class="MsoNormal"> I see Mnuchin tweeting that the Payroll protection Program has approved more than $1billion in PPP loans.</p>
<p class="MsoNormal"> </p>
<p class="MsoNormal"> Yet the Chase\u2019s website (<a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__url.emailprotection.link_-3Fbw-5F6SAf7lRXro8-5F0hCYxnLflpJP4c09p9nCPbtfNMJW95sqfn-2DnSfzx2NxdZWnsGoGqpQb0bnT1rJv2-5FgpLy6iQ-7E-7E&d=DwMGaQ&c=SFszdw3oxIkTvaP4xmzq_apLU3uL-3SxdAPNkldf__Q&r=lB7EXkdEMcjbMaexKQvcgltC77HjD_rbCem02t7VgHM&m=JOHHwvl-O2FpOkcMaKgUQ2UbVNXY-vj6ONj0RJhx5cw&s=Urb0PuywX0OIf795ZP5coj-y2KdLhwgbkm2zIwgugcI&e=">https://recovery.chase.com/cares/cares-form</a>
) has a 1-page form that tells you that someone from Chase will contact you.</p>
<p class="MsoNormal"> </p>
<p class="MsoNormal"> Has anyone succeeded in getting the PP process started with Chase?
</p>
<p class="MsoNormal"> </p>
<p class="MsoNormal"> Are any banks actually taking full PPP apps yet?</p>
<p class="MsoNormal"> </p>
<p class="MsoNormal"> </p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><span style="font-size:11.5pt; font-family:"Arial",sans-serif; color:#1F497D">--Raj </span><span style="font-size:12.0pt; color:#1F497D"><br>
<br>
</span><span style="font-size:11.5pt; font-family:"Arial",sans-serif; color:#1F497D">Rajesh Goel, CISSP </span><span style="font-size:12.0pt; color:#1F497D"><br>
</span><span style="font-size:11.5pt; font-family:"Arial",sans-serif; color:#1F497D">cell </span><span style="font-size:12.0pt; color:#1F497D">(917) 685-7731</span><span style="font-size:11.5pt; font-family:"Arial",sans-serif; color:#1F497D"> </span><span style="font-size:12.0pt; color:#1F497D"><br>
</span><span style="font-size:11.5pt; font-family:"Arial",sans-serif; color:#1F497D">CTO: Brainlink International, Inc. </span><span style="font-size:12.0pt; color:#1F497D"><br>
<a href="mailto:raj@brainlink.com"><span style="font-size:11.5pt; font-family:"Arial",sans-serif; color:blue">raj@brainlink.com</span></a></span><span style="font-size:11.5pt; font-family:"Arial",sans-serif; color:#1F497D"> </span><span style="font-size:12.0pt; color:#1F497D"><br>
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SKYPE: brainlink-raj<br>
You run your business, and leave the IT to us. <br>
<br>
Author, SOP Maven, TV Personality, Keynote Speaker, Gothamite, Friar</span><span style="font-size:12.0pt; color:#1F497D"><br>
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