Bank Of America is stuck in the Payroll Protection Loan Program, which has a proven track record of working with customers. in this case, Turner report and caption serviceVicki Turner, founder of Turner Reporting and Captioning Service, emails Zennie 62 Media, a small business in Las Vegas, Nevada, providing captions for deaf patrons and deaf patrons at live events and Broadway tour shows I shared.
Ms. Turner is one of the growing numbers of American small business owners who share and share the horror story of PPP loans. Zennie62Media..
It started with me, CEO of Zennie62 Media, and shared a personal journey to work on ways to mitigate the financial damage caused by a pandemic. First Zennie 62 Media was a customer of BofA and the second was a banking business, so we sought help from Bank of America and the Small and Medium Business Administration. The company instructed me to sign up for the Small and Medium Business Administration website, first, Economic Injury Disaster Loan Program Or “EIDL”, then the Payroll Protection Loan Program website, then a representative of the BofA branch in Fayette County, Georgia, when the SBA website crashes, or the SBA or Bank of America itself. This is not the fault of a representative of my local BofA branch in Fayette County, Georgia. They were very helpful during the course of the crisis.
My blog about Zennie62Media’s experience led to a voluntary number of emails and phone calls from small business owners across the country who shared a horror story about the PPP loan program, and Bank of America traded on PPP. How did you handle the end Loan process. I also blog about SBA.Share your PPP loan story with zennie62Media ([email protected])
Overall, the program caused extreme stress on Tom Brady, the former New England Patriots, and the owners of so many small businesses that are no longer Tampa Bayback quarterbacks. Secure TB12 SMEs $ 960,855 PPP Loan – But in 2020, we signed a two-year $ 50 million deal with Tampa Bay. He reportedly won $ 41 million of that in 2021 this year.
This is the story of Turner Reporting and Caption Services and the Bank of America PPP loan forgiveness process.
Hello, Zeni ~
He said he was interested in how Bank of America took the wrong direction for many who applied for PPP loans to stay in business last year. I’m currently one of many trying to manage the effects of their cheating.
I’m a small business owner who doesn’t know where to go. The BofA application specifically requested 1099 independent contractors included in our salary to be included in the calculations I made. I sent them the backup document they requested. They offered a loan. I was relieved that he carefully tracked all payments for salary, rent and utilities and extended the time available for the funds. I followed the guidelines for applying BofA to T, so I was convinced that everything was acceptable. I felt like I could breathe again.
I own a theater caption agency and provide captions to hearing-impaired patrons and deaf patrons at live events and Broadway tour shows. I also have a small court reporting agency, as well as these services were completely shut down until June 2020, when they started slowly. However, you will usually not be paid for services that ran until September / October, a few months later. I relied on a PPP loan to keep the door open and thanked it.
That gratitude is now a stressor. BofA does not address the error in the created application that specifically requested to include 1099. I receive a very low salary (and distributions are not included if possible), so the amount BofA unilaterally decides is negligible. Court reporters and various government officials are 1099 workers. My rent payments are not fully covered as the salary to expense ratio is allowed.
BofA has inserted the amount they consider forgiveness into their forgiveness form (waiting a few months before receiving an “invitation” to apply), and it cannot be changed. Many calls I made to them didn’t take me anywhere. Basically, no one speaks trying to address and fix the problem. BofA is currently in the position that 1099 workers should not have been included in the application under the SBA guidelines. Well, if they hadn’t requested the information in their application, I would certainly not have included it.
BofA completely, and I felt fraudulent, misleading us with their misapplication. They are now deciding what they can forgive. So for me, I have to pay back close to $ 50,000.
They have no problem sending me regular emails that “remind me” to submit my loan forgiveness documents before the deadline has passed. Still, when I try to talk to someone for help, no one knows anything.
I hope this is not intentional on the BofA side. But since they made money from PPP funds, they are well aware that they are distributing and at the interest we think they are in good faith to be forgiven based on BofA’s mistakes. For applications that may make more money from small businesses that have to repay their funds, the only entity that has benefited from last year’s difficulties appears to be BofA.
What they are doing and how they do not accept responsibility for their mistakes is disgusting.
And it doesn’t even deal with the $ 10,000 they deleted from my account in August because I didn’t accept the SBA loan I knew nothing about. This was included in my application when BofA requested to include the funds received from the EIDL SBA loan. At that time, all of us were mistakenly told to receive $ 10,000, which was eventually reduced to $ 1,000. This should have been considered a grant.
If you can join us to draw attention to this tragedy of small business owners across the country who struggled this year, please count. This weighs heavily on me and causes great pain. ..
BofA needs to be held accountable for their actions. I’ve been doing business with them for nearly 50 years and once this is resolved I’ll delete all my accounts.
Feel free to contact us by email or phone at any time.
Thanks for everything you do to clarify this issue.
Bank of America is invited to send or join an email explaining aspects of the story. I look forward to contacting the spokesperson and welcoming him on the Zennie62 YouTube live stream.
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