Question

Has anyone applied and received approval for a PPP loan from a local community bank? If so, can you share which bank you used? Thanks

Answer 1

Yes Wintrust Bank but to my understanding you have to be a current small business customer.  

Answer 2

Not yet I tried at West Suburban. They said Monday the application was filed.  

Comments

Just received the email thay I received it. I don't bank at West Suburban and they gave me great service. I would recommend contacting them.  

Answer 3

Applied, not received

Answer 4

My brother applied and got his. He used Busey Bank.  

Answer 5

PayPal , Bluevine still getting people done pretty quick although not nearly as fast as the first round.  

Answer 6

Yes, Marquette bank

Answer 7

Thanks everyone. Appreciate you guys.  

Answer 8

Applied at Chase, but not received yet  

Comments

@griffey Fingers crossed for you, as well! Hope it works out.  

---

@vineyard95 I think our problem is banking with a large bank like Chase. I’ve heard of several getting them the first round with smaller, local banks.  

---

@griffey definitely. more likely through smaller banks. I believe the smaller banks are processing them even if you don’t bank with them. You should try to apply with multiple institutions simultaneously. Had a few friends who have and were approved by multiple banks. Ultimately you can choose who you want to go with after the fact.  

---

Applied at Chase in Round 1. just received notice that my loan will be funded in 3 business days.  

Answer 9

Not local but regional. we went through Harris during the first round of funding and while they didn't have it digitized they were super helpful and we had it funded about a week ago

Comments

@grandchild96 BMO Harris? Would you be able to share who, or which location you worked with, by any chance? Thanks, Patrick!  

---

Yeah, BMO. I applied online and a banker called me to get more paperwork and such, wasn't through a specific branch

Answer 10

We got first round of PPP from First Secure Community Bank. They were fantastic to work with!  

Answer 11

I applied in the first round and received the loan last week. I use BMO Harris Bank. The process was very easy.  

Answer 12

I applied through Chase where my business account is and I just got the approval this morning. So hopefully everyone else’s comes soon!  

Comments

@bosanquet me too!  

Answer 13

Thanks for the guidance, everybody! Really helpful, and really appreciate it!  

Answer 14

We applied at Bank of America two weeks ago and I got an email today that funds will be deposited in two business days. You have to have a banking relationship with the bank you submit your application thru because the SBA needs to direct deposit the funds into your acct. My biggest advice is simply follow the directions on the papers. For Bank of America it consisted of one page that was a template to figure the loan amount (our annual payroll from last year, taxes paid off of our 941’s etc it’s all figures you should have ) you figure the loan amount there’s a few yes and no questions and signatures. I had to upload the papers, got an email confirmation they were received, they did email me again wanting our 941’s and 940’s but I didn’t read it right and sent Only 941’s and it took a few more days for them to email again that the 940’s weren’t received. Had I not misread the email I think we would of been funded already. So that’s a total of 2 week time frame.  

Comments

@saldana0 Thank you, Natalie! Going to be putting in applications with our banks today. Appreciate it!