Let me tell you about a small business owner. Her PPP loan through the bank

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US $ 76,773 approved. A year later, Bofa A emailed him that only $ 4,377 would be eligible! Is this how the Bank of America really chooses to treat its best customers?


A.D. In April 2021 and again in July 2021, I wrote about the horrific treatment and terrible customer support of the Bank of America. But now the treatment was worse than I described and P.P.P.

Let me tell you about Mad Etel Tattoo, LLC Small Business, 711-B North Man Street, Raleigh, North Carolina 27604. She has been a customer of the Bank of America for two decades. When Covie hit, Ember received a good news from Bofa Email that if he used 75 percent of his business loan to cover his salary, he would receive a full future forgiving loan.

She immediately applied through the US Intralinks Portal, where there are two entry modes – W2 businesses and 1099 independent contractor businesses. She went 1099. There were no living people to speak, There are no chat options. Emails say you can’t reply. If you do not have the correct document, the system will respond to your application without explanation until you make it

Amber filed her application on April 13 and sent an email confirming that all documents, including the 1099 documents requested by Bofe, were uploaded on April 30.

On May 3, according to her business 1099, her loan was approved for $ 76,773. On May 6, the SBA changed its guidelines to pay 1099-based payments as eligible PP. For a whole year, Amber learned nothing about the May 6 policy change. But the SB.A. (Credit) The website clearly states that the rules are important as long as financial support is provided.

75% of the lender’s money must be repaid within eight weeks. At one point, he had to pay 60 percent in 24 weeks. Rumors have surfaced about other sizes and time frames. In any case, Ember will be able to secure all PPP in eight weeks to ensure its safety.

Months later, Amber received a call from a pardoned US bank representative, and the apology was easy, and he only had to answer a few questions in an online questionnaire that took just 15 minutes to complete. Answers provided.

There was no place to upload documents or proof of payment. She waited patiently for weeks to receive news that her loan had been forgiven. Instead of receiving such an announcement, she received a similar email from Bofa stating that she was reviewing her request before submitting it to the SBA.

A year after the US Bank Amber decided it was eligible for a small business grant, they sent an email saying they would qualify for only $ 4,377! Confused and shocked, Amber called the phone number in a US Bank email and called the answering machine, which is always hung up on callers. Nine out of 10 calls will be removed.

After her last entry, Bofe said she had made changes based on unsatisfactory SBA rules for independent contractors. “Independent contractors could apply for themselves,” the Bofei representative told Ember.

Other than that, the representatives, as well as Amber’s top manager, received a phone call: a) “sorry”; The amount of the loan in the 1099 requested to be uploaded.

She was told that Bofe was giving money as soon as possible, so it was really difficult for the bank to carefully consider all the information provided. Knowing that Amber would need a free contractor to qualify for the business as a legitimate business, Ember sought out Boffan’s behavior online.

It is good to do it. But Ember and millions of other small business owners have been persuaded to accept unforgiving loans to continue hiring independent contractors, instead they have been tricked into borrowing more money than they can afford. The story is getting worse. They did not have any employees or 1099 subcontractors from Amber sub, so no one could apply for PPP funds.

I asked Ember to cover up her crime.

As I see it, by requesting documents and by denying laws and regulations to protect my loans and rights, by asking for documents and approving loans, the Bank of America has acted fraudulently and negligently and now protects small businesses. If it is not a deliberate trap, owners should pay for their mistakes

Ember is called the local SBA chapter because she can’t get anywhere with the US Bank. They told her that BofA was wrong and that SBS had seen so many issues so far. The Bank of America is responsible for all matters.

Again, here it is

Lenders will not be allowed to pardon, so an SBA representative will email me and the Bank of America. This is the sole authority of the SBA, although BoFA remains in pre-screening. The email includes SBA guidelines: (PPP FAQ # 17.)

I called the Bank of America with this information, and the person I was talking to didn’t seem to know what to do with the information and I was not allowed to talk to anyone.

I have now received dozens of calls from Bank of America and SBA representatives, I have had two improvements, and I have filed two complaints with the Bank of America’s Consumer Financial Protection Office. I received a phone call from an initial complaint that a woman was looking into the matter and would return to me.

So far I have not received a response from the Bank of America, I have not received any calls from anyone involved, and I have not heard from the lady in charge. I asked her what company she was working for, and her answer was no surprise. Bank of America.

Clearly, the Bank of America has found a way to handle millions of SBA dollars when it comes to fraudulent or negligent transactions with its customers.

I can’t say how many other small businesses are suffering in this way. I was given money for myself, based on the documents I was asked for and properly submitted

If I pay right, forgiveness hangs in front of me. Now, the Bank of America is trying to force me to give tens of thousands of dollars out of my own pocket while my business has been closed for months, with no income, and in storage, in defiance of SBA regulations, ignoring SBA requests, and basically. Expenses while living on credit.

This grant has become an effective way for me and other small businesses to invest. It’s been 15 months since I received my loan. If there is no apology, I have nine months to pay in full.

For me, returning $ 77,000 over nine months means not paying your rent in full. No Christmas, Easter, birthdays, or holidays with children. This means college savings, no pensions, and unforeseen expenses

Is this how the Bank of America really chooses to treat its best customers?

Amber is now less than a month old. She is now in a vicious circle of not apologizing for her Boeing mention of the 4K dollar, but she must also apply for a full pardon.

There may be a competent person in this incredibly incompetent company. His name is Brian Monihan. He is the CEO of Bank of America. Brian, pick up your phone, call Amber and help her and thousands of other BofA victims get the forgiveness they deserve.

Otherwise you will be personally responsible for your organization’s continued abuse. That legal issue is beyond my salary. But really, it’s a matter of morals and whether you can sleep at night.


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