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So far the feds are going after pikers. https://www.usatoday.com/story/news/politics/2020/05/05/coronavirus-first-fraud-case-involving-ppp-small-business-program/3085676001/

Got my PPP money on Friday. Small bank, incredibly smooth process. Applied last Monday on first day of round 2. Got my SBA# a couple hours later.

Respectfully, if your companies are in a position to give back $15M, you probably didn't need it, and shouldn't have applied for it to begin with. I love that every loan over $2M is apparently going to be audited. The intended beneficiaries of PPP were local restaurants and stores that need $50k...

The large banks seriously ****ed over the mom and pop businesses with PPP.

They are going to need to do a round 3 of ppp. They should have bit the bullet and funded it with about $1 trillion. It's basically all monopoly money at this point anyway.

You want some business from me?

Funding likely to be gone today. The lender I put in with is now saying they are prioritizing larger payrolls. Hopefully Congress funds it again or I'm out of luck.

Who was your lender and when did you submit app?

Problem is $349 billion isn't going to come close to filling the need. A lot of SBs will be left out in the cold without a lot more funding.

How far did you get in the application process with BofA?

Good info. Thanks.

I'm an IC. Got my application in yesterday with an online lender. Large banks are useless on PPP.