COVID Loan Tracker: Here is detail on the first 6 Businesses who got PPP Loans

[charity1]

@proverbs3 If you received your money, please go back to the survey and click "yes" on the first question. This will then take you to follow up questions allowing you to submit details.

 

[edo2]

@charity1 Thanks for putting this together. Great work.

 

[revdr]

@charity1 Would there be a negative bias on a survey like this? Meaning a lower rate of loan success that what is actually happening?

Businesses who have received the funds would be less likely to take the survey (they do their sigh-of-relief and move on) than businesses that are nervously waiting for funding.

 

[charity1]

@revdr So theoretically yes. However, interestingly, the business that have reported success have actually come back to the survey and updated their status (8 out of 12 successes happened this way). So we have a facility to avid it and we are using our newsletter to remind people to come back. The other point to consider is that we launched the site early enough that VERY few businesses had loans yet, so I don't think there was an immediately negative bias.

 

[axe414]

@charity1 Like huh.? Everyone that I've seen that had a ling form got an email and asked them to reapply with the short one

 

[practicingchristianity]

@charity1 Based on the current average loan, there is no way 600B will even be close to enough.

 

[charity1]

@practicingchristianity We completely agree. There are 30m small businesses in the US, $349 bn means a little less than $12,000 to each of them. Even if half don't apply it still isn't enough!

 

[613jono]

@charity1 30 mil is very misleading. Only 6 million have a paid employee. And businesses with 2 or more is obviously less.

 

[pastorchrisonline]

@charity1 Quick question, I applied for the PPP ( regions bank) but wasn’t informed that’s it a separate loan altogether for the 10,000 grant. How do I find that info. ( Texas )

 

[charity1]

@pastorchrisonline Here is the application for the $10k grant.

https://covid19relief.sba.gov/

 

[clintjohnhampton]

@charity1 We received notice today from our bank (Ameris Bank) that our PPP loan has been sent up for approval. No word on EIDL or Grant/Advance.

 

[charity1]

@clintjohnhampton Good for you. We have been hearing a lot of some version of "you approved, the money is coming" or "sent up for approval". We are wondering how long it will take for the money to arrive. Keep us posted!

 

[clintjohnhampton]

@charity1 No PPP yet, but we received a 3k advance today on our EIDL loan application. Really wished we listed my wife and I as employees also! Keep you posted on PPP, full loan amount.

 

[lumpyoatmeal]

@charity1 No sole proprietors

 

[commonsensebeliever]

@charity1 I work for a smaller, community bank. Once all info has been submitted in ETRAN, we get an immediate approval from SBA and move to closing. Closing with our internal loan docs and SBA note to cover all bases. Advancing our own funds in hopes that Treasury pays off loan in 8 weeks...

 

[rodney3929]

@charity1

Check out Veem: https://www.veem.com/sba-ppp/

 

[ladyaloette]

@charity1 Is there a way to get a list of actual companies that have been approved for a PPP loan by geographical areas - (IE list of all companies in Houston TX who received PPP loans)

 

[nuteater]

@charity1 I think our regional banks is waiting for the closing documentation/form from SBA. That's a guess on my part.

 

[timh42]

@nuteater Thats exactly what my bank is saying.

 

[evangelistcj]

@timh42 ours too