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    24 Replies Latest reply on May 3, 2020 5:15 PM by gd487gr

    Bank of America PPP Promissory Note

    bbman400 Adventurer

      I am wondering if anyone else is in my same position. I applied on Day 1 through Bank of America and received an Application Complete for Submission Email on April 20 (After Round 1 Closed). Shockingly on April 28 I received an email from BofA stating: "Good news - You've been assigned a SBA loan identification number"

       

      It went on to say: "You'll be getting an email to complete and sign the attestation and promissory note; failing to complete this step promptly could impact your ability to receive funds under the Paycheck Protection Program."

       

      After receipt of that email on April 28, I have gotten no further emails from Bank of America and no further updates on Intrtalinks. Others have advised that after receipt of "Good News" email they got an email with a link to Online Banking to sign and complete the Promissory Note and Attestation.

       

      I am not exactly sure where to go from here. Anyone in this same boat or have any suggestions?

      And if anyone from Bank of America monitors these forums, please help me out.

      Thanks in advance!

        • Re: Bank of America PPP Promissory Note
          jeaninelynn76 Adventurer

          I am in the same boat.  I got my Good news, you have been assigned a SBA loan identification number email on 4/30/2020 at 5:20AM but no emails after that with my link to sign my promissory note yet

            • Re: Bank of America PPP Promissory Note
              ntizuchi Wayfarer

              Hey guys,

               

              I was in the same boat. There is a glitch in the system.

               

              Here is what you need to do to access your promissary note once you've received the email titled: "You're one step away from receiving Paycheck Protection Program funds"

               

              Step 1: Click the link sent in the email titled "You're one step away from receiving Paycheck Protection Program funds"

              Step 2: Sign in to Small Business Checking Online Banking using the same account credentials you used to submit your application.

              Step 3: Keeping the previous window open, go back to the email titled "You're one step away from receiving Paycheck Protection Program funds"

              Step 4 Click the link again!

               

              Should work! You're welcome!

              • Re: Bank of America PPP Promissory Note
                texshak Adventurer

                Can you please post your timeline ?

                Also post the batch number ?

                 

                I am trying to establish how far behind is my application.

                 

                Thanks

                  • Re: Bank of America PPP Promissory Note
                    vegasconnor Wayfarer

                    My experience: Bank of America PPP time line

                     

                    This has been a long frustrating and stressful process for me and most likely you as well. I thought I would give some insight on my experience from application to Round two funding of the PPP. The best advise I can give is to be vigilant and respond ASAP to any requests for documents or signatures!

                     

                    Submitted application a couple days before the 7th I forget the date exactly

                    4/7 Submitted to Intralinks as soon as I was able

                    Radio silence through first round funding except a call from a banker who had many like myself to call to acknowledge the receipt of my submission probably a week or so after submission.

                    4/20 received email requesting more documents and promptly uploaded all information requested

                    4/25 Got a call from a Bank of America banker requesting even more docs which ultimately led to a reduced loan amount.

                    4/26 received email saying my loan application was complete

                    4/28 after first round funding had started, I received an email saying my loan had been submitted to the SBA

                    5/1 Received email: Good news you have received a Loan ID number and later that afternoon received revised addendum and promissory note to sign. I advised my Banker that the promissory note was for the original larger amount and he stated that underwriting must have approved the original amount as I provided a read me file for justification of my calculations and all supporting payroll records.

                    5/2 I received an email saying my SBA loan was approved and that it would be funded in 1-2 days

                    5/3 This morning I checked my account and was pleasantly surprised my PPP Loan had already been funded.

                    • Re: Bank of America PPP Promissory Note
                      leila_chaychi Wayfarer

                      About a week.

                       

                      Sent from my iPhone

                  • Re: Bank of America PPP Promissory Note
                    sexyfwong Wayfarer

                    i still didnt receive promissory notes. Its been 4 days since April 27 i have received the "Good News sba loan # will be assigned" email. Did u receive your PN yet?

                    • Re: Bank of America PPP Promissory Note
                      drrujvi Adventurer

                      Same here. Please let us know if you got any update.

                      1 of 1 people found this helpful
                        • Re: Bank of America PPP Promissory Note
                          abig Wayfarer

                          I also received the good news email on 5/2 and it directed me to log on to the regular BOA website with the "same login and password I used to submit the application." That did not work. I then logged into the website where I submitted documents and there is no promissory note to sign.  Is there another website where you sign the note?  Thank you

                            • Re: Bank of America PPP Promissory Note
                              abig Wayfarer

                              Update: I received the good news email that gave me a link to the small business website where I view account information and make payments etc. I logged in shortly after receiving the email and could not find anything. I also checked the intralinks website and it was not there.

                               

                              I tried several more times but gave up for about 12 hours.  Then logged in again to the small business website just now directly from the link in the email and it took me directly to the promissory note certifications and then the actual promissory note. I have now received the confirmation email.

                               

                              Important note though - the good news email says to login with the credentials you used to submit the application. This is INCORRECT. When I logged into the BOA site (after 12 hours), I used my day-day login to view accounts. Instead of first seeing the accounts page with our balances after logging in, I was presented with links to move forward with the promissory note. Hopefully, BOA will update the email to say: (1) use your regular login not the one your used to submit the application; and (2) that it might take up to 12 hours for the promissory note to be available online.

                               

                              BOA is doing a great job and it understandable in the rush to get funds out some things will be missed. I think it is great people are posting their before and after experiences so everyone can benefit.

                          • Re: Bank of America PPP Promissory Note
                            bbman400 Adventurer

                            I just received the Promissory Note and Attestation Form from Intralinks. Anyone else get it this way?

                            • Re: Bank of America PPP Promissory Note
                              leila_chaychi Wayfarer

                              I received the “ good news” email then I received another email 8 hrs later asking me to sign in to my business account and attest and sign that the promissory note. I signed in 4 times and can’t see the note to sign. Can anyone tell me under which section I can find this promissory note?

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                              • Re: Bank of America PPP Promissory Note
                                pppl Newbie

                                Same here.

                                Got the Same Email early on 5-1-20, but no followup since....

                                I hope EVERYONE hears soon!

                                • Re: Bank of America PPP Promissory Note
                                  ccole Adventurer

                                  @bbman400 Same here, except last night, I received the email "You are one-step away from your loan ..."

                                  Timeline:

                                  Applied 4/3

                                  4/28 Email: Sent to SBA email

                                  5/1 (10am) Email: assigned a loan number

                                  5/1 (7pm) Email: You are one step away (promisory note)

                                  If all holds true I would hope to be funded by next week

                                   

                                  Be advised, I also applied to a second lender and at 5pm on 5/1, I received notification from them that the application was denied. This tells me they were able to find both applications at the SBA, and decline one and proceed with other.

                                  • Re: Bank of America PPP Promissory Note
                                    john short Newbie

                                     

                                    T

                                    Bank of America.
                                    this is what I’ve receive, where do I find these notes?
                                    You're one step away from receiving Paycheck Protection Program funds
                                    You must complete and sign the attestation form and promissory note before we can approve your loan and disburse your Paycheck Protection Program loan funds.
                                    What you need to do:
                                    • Do not delay in completing this final step, including electronically signing the promissory note. Failing to do so promptly could impact your ability to receive funds under the Paycheck Protection Program.
                                    What you need to know:
                                    • If all your information is correct and accurate, your loan funds will be deposited into the account provided on your application in 1-2 business days.
                                    • Information about your application status will not be available through our financial centers or contact centers due to the nature of this loan process and the steps involved.
                                    We know how important this federal financial relief program is to small businesses in need, including your business, your employees and those you serve.
                                    Thank you for being a valued client.
                                    Sign your forms


                                    where do you find the page to complete the attestation and promissory note?

                                    • Re: Bank of America PPP Promissory Note
                                      vegasconnor Wayfarer

                                      I received the email about my loan number yesterday May 1st. Yesterday afternoon I signed the promissory note and resigned the addendum form. Has anyone gotten past signing the promissory note? I'm wondering if that;s it or if I am still waiting on more documents to sign.

                                      • Re: Bank of America PPP Promissory Note
                                        sammypie1 Newbie

                                        Hi there,

                                         

                                        I recieved my e-mail saying I have been assign loan this was yesterday 5/1. It said look for promissory note. Hours later I recieved the link to click and that was the promissory note I clicked all the boxes and electronically signed. Then said money to be deposited 1-2 days. You should have recieved the promissory note the same day. I hope this info helped.

                                        • Re: Bank of America PPP Promissory Note
                                          gd487gr Wayfarer

                                          Same here. It looks like it’s been happening a lot as I read the posts on here

                                          • Re: Bank of America PPP Promissory Note
                                            davidhuskins Newbie

                                            Got an email on May2 saying to "sign forms;" go to online banking and sign it to complete; when I click links to either sign in or "sign forms," it brings me to online site using my credentials, but no where on the site is the attestation or note link to sign the forms. The forms are not in Intralinks site, either.

                                            • Re: Bank of America PPP Promissory Note
                                              htoomyat Wayfarer

                                              ok everyone, if you have Bank of America app, delete it first. Then go to your Bank Of America Online  by using a browser and log in and go back to the email and click sign my forms and you will see them. Otherwise it will keep taking you to your App which doesn’t work.  Thank you all

                                              • Re: Bank of America PPP Promissory Note
                                                lynn83 Newbie

                                                I was finally able to sign the Promissory Note!! this is what i did.

                                                 

                                                1. You must delete the BOA app off you phone

                                                2. You will log in opening BOA in a new app

                                                3. You will be prompted to select a box which will have the following options

                                                •still gathering info

                                                •uploaded docs * this is what you will chose

                                                •cancel your loan request

                                                4. The screen then will close its self out

                                                5. 24 hrs later I returned back to log in where it had the information advising  to sign the promissory note.

                                                6. You loan request might very from your original request as based upon your document submitted.

                                                • Re: Bank of America PPP Promissory Note
                                                  lbrice Newbie

                                                  Hello, I just got the email this morning.  Went to banking online on my phone...no promissory note etc...

                                                  I decided to log in BofA online on my laptop and the promissory note and docs were right there to sign.

                                                  Hope this information helps.

                                                  • Re: Bank of America PPP Promissory Note
                                                    esm1095 Newbie

                                                    If this helps,

                                                    I applied April 3rd like most on here, received a call a few days later confirming I filled out all intralinks info Correct. Done.

                                                    Two weeks later nothing, stayed very patient never contacted anyone. April 24th received another call from rep checking all my info on intralinks again, she was new and asked for me to upload breakdown of payroll from my payroll company to verify my February payroll amounts not sure why because the info was on my 940 and 941.

                                                    next day received email that my application was complete.

                                                     

                                                    April 28 received email I was assigned SBA loan number

                                                    April 29 received email to sign promissory note through Bank of America login, completed

                                                    April 30 received email, loan was approved and same day received a call from a bank rep confirming everything was done and funds would be deposited within 24-48hrs.

                                                    hope this helps, all the info I read in here gave me hope and patience sure enough it all worked out.

                                                    • Re: Bank of America PPP Promissory Note
                                                      gd487gr Wayfarer

                                                      I just finished mine. I have an iPhone. I deleted the app and cut and pasted the link to the google chrome app and the promissory note popped up. It didn’t work in safari