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    1 Reply Latest reply on May 7, 2020 9:32 AM by mriobctampa

    PPP Issue

    fridge96 Newbie

      Another bank informed me they couldn't finalize my PPP loan with them because BoA has already claimed my loan.  I haven't heard anything from BoA regarding my loan and I don't have a promissory note from BoA.  Why can't the other bank finalize my loan?  Has anyone else had this happen to them?  How can I find out from BoA if my loan application will absolutely go through? 

        • Re: PPP Issue
          mriobctampa Wayfarer

          The same thing happened to me with two other lenders over this past weekend. The other lender had told me there the SBA had attached the loan number to my tax ID. I spoke to someone at Bank of America who contacted me after I was asking the same question on twitter and they told me just to wait for the email. They said it takes them a couple of days to get the email out after you are approved. I spoke to them on Tuesday and eventually got an email yesterday morning that went to my clutter mail stating that I was one step away from getting the funds. I followed the directions and signed the promissory note, and the funds were deposited last night.  The good news is, that there are funds already reserved for you if they are attached to your tax ID. I  had the same concerns but there is hope!