“The incompetency and the amount of people who don’t know what they’re doing and just hanging on and doing the bare minimum is at an-all time high,” Pittsburgh drywall contractor Bill Martin said. “Everyone is just flying by the seat of their pants.”
“I applied for funding at a local bank. Other than the initial email I did not hear back from them on status. So I applied to PayPal,” wrote one Reddit user, who claimed they ended up being funded by both banks. “Something is fubar with the SBA system.”
"Your application is still in Stage 1, with an extremely large volume of applications ahead of you,” read one such message from Chase."You can decide if you would like to try applying with another lender."according to a Reuters report A Bank of America senior executive said the situation had not been an issue. Wells Fargo and Citibank declined to comment on the record. But JPMorgan Chase and three alternative lenders, PayPal, Square, and BlueVine, confirmed they were working with the SBA to resolve the problem.
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