Where are my funds? UPDATE: Still Not Funded. This has been extra stress on top of the pandemic. Blueacorn Communication skills are horrible. SBA has been saying funds disbursed for 2 months now. Why havent my banking info been updated? Why after countless tickets, Unanswered chats have No one reached out to me? Its So simple to update my banking info. Its been 90 days now since my funds were returned from my bank. The very least I should be given is information !!! This is getting ridiculous I’m responsible for a loan that no one can tell me when or if I’m going to receive now.I’ve been patient till now I find it outrageous that no one had bothered to contact me to let me no where my funds have gone I find that irresponsible when dealing with people’s livelihoods.I trusted this company with my businesses future and I’m beginning to think this was a big mistake. Filled out a ticket it’s been a week with no response the 24 hour chat has no answers. I can’t get any kind of answer as to what’s going on other than a automated response that tells me nothing. I was told my funds would be on card when received in mail.I received the dash card on june7th with a 0 balance. I was offered a dash card on 27 th of may. “The SBA will continue to prioritize its response to findings of potential fraud in pandemic relief programs, efforts that have been positively recognized by the SBA Office of the Inspector General.I filled out a application with blue acorn 0n April 31st was approved and signed loan docs on 17th of may at which point my bank sent back funds. Department of the Treasury, the Federal Reserve Board, and the Office of the Comptroller of the Currency to ensure federal financial regulators are coordinating their response to any wrongdoings by lenders. SBA states that they will work with the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the U.S. This will also include any individuals and related entities that were named in the 130-page report. In addition, they will be investigating appropriate actions against the companies’ owners, management, and successor companies.įurther, the SBA stated that they will launch full investigations of the lenders who were partnered with fintechs including Benworth, Capital Plus, Celtic Bank, Customers Bank, Cross River Bank, Fountainhead, Harvest, and Prestamos. In response to the PPP fraud report, the SBA suspended Blueacorn and Womply from working with the SBA in any capacity. The SBA plans to continue working with the Select Subcommittee to review the evidence within the report and continue taking corrective action to address fraud and weak controls that were “so prevalent at the onset of the PPP”. On Wednesday, the SBA released a statement in response to the findings in the House Select Subcommittee on the Coronavirus Crisis report on PPP fraud. In response to new revelations detailed in the report of possible fraud facilitated by third-party companies, the Small Business Administration (SBA) is taking additional action,” reads a statement by the SBA. “The House Select Subcommittee report details serious problems of fraud and self-dealing by lenders and by companies who were paid fees by lenders to help PPP funds reach small business owners.
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