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Same here.
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We got funded today. So I think that was just a tick under 2 weeks from submitting our application - 'bout 10 days flat, IIRC.
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congrats!
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Fist of all, Congratulations!

Was it PPP or EIDL? Did you submit on the 3rd then?

Did you have additional steps after the initial application?

What bank?
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PPP.

It was a Thursday and approved that Saturday, so looks like it must've been on the 2nd.

Early last week I docusigned a couple of statements confirming the language in the applications; 3 spots.

Hawthorn Bank.

They funded it into our operating account so we'll just go ahead and make a quick transfer once the PPP 'secondary' account gets set up, but it should be pretty straightforward.
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Thats incredible, I think you are one of the lucky ones.

I called Thursday and was told to get in the Que on Friday the third. Wasnt able to actually apply until Tuesday the 7th. Chase Bank.
Havent heard anything since except I will get an Email once its processed.
Starting to get nervous, Im hearing they will run out of money this week.
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Great to hear bud. Still waiting on mine - haven't signed anything other than the initial app.
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Yeah, bank came through big time.

We've done some SBA stuff in the past and Hawthorn is incredibly good at it - they really know how to navigate that process.

It's a little frustrating sometimes if we're looking for a fairly small loan and their first response is "we'll contact the SBA..." when it's just 100K for servers or something and really doesn't need that kind of backstop. But because of their tendency towards pursuing an SBA backed structure, they were able to just rock through this one.
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I received the PPP funds a couple hours ago.
I just received this email from the SBA about the EIDL. I’m not sure but it sounds like I AM getting the 10k advance?? We have 31 employees. Since we got the PPP I’m no longer interested in taking on further EIDL debt. Am I able to get the PPP and the EIDL 10k without issue? (Paging mililo4cpa)

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Dear Applicant,

On March 29, 2020, following the passage of the CARES Act, the SBA provided small business owners and non-profits impacted by COVID-19 with the opportunity to obtain up to a $10,000 Advance on their Economic Injury Disaster Loan (EIDL). The Advance is available as part of the full EIDL application and will be transferred into the account you provide shortly after your application is submitted. To ensure that the greatest number of applicants can receive assistance during this challenging time, the amount of your Advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.
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If the 10K is an advance on the EIDL, how do they determine how much you actually get?
I ask because when I filled it out there was no place to ask for an amount.
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Take a look at the last line of what you quoted. I didn’t know until this. Good luck to you!
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I believe they said loans up to 2 million. Its only the 10k advance on the loan that had an actual amount. Its confusing. I guess no one has got to the next steps where the amount is either determined or requested?

I appreciate your update. Thanks
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Sorry, I misread your question the first time. I don’t know the answer.
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This whole thing has really screwed up my livelyhood. Work as a general contractor and usually I get calls from people about wanting their roof looked at from a storm. Well we haven't had a storm recently, so to drum up new business I would have to go door to door and people aren't too appreciative of salesman coming to their door when they can't even have family over. So if we don't have a hail storm sometime soon itll be really shitty.
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