My organization like Paula Fargo’s (“Big banks let small businesses down during coronavirus,” May 22) had numerous problems accessing online applications and filing an application for the Paycheck Protection Plan (PPP) loan. However, we also recognized that all banks were on a steep learning curve throughout the process. By the time we all recognized that many banks were having the same struggles across the board and learning while doing, we had the option to switch to a banking organization that may have learned how to circumvent the challenges and be more successful.
Unlike Curry Printing, we did not switch providers. My organization stayed with PNC and was successful obtaining the PPP loan. Let me clearly say that I was not sure that we would succeed. I met the same obstacles as Ms. Fargo. We missed the first deadline and we thought we had fallen to the “end of the line” when the system re-opened. I prepared myself for two months with no revenue as we canceled our major fundraiser for the year.
However, I received clear instructions from John Baier, our representative here at PNC in Abingdon, and from Richard Wendell, a vice president in Cleveland. Finally, on Sunday, May 3 at 6:45 p.m., I received a call from Lucia at PNC in Virginia who confirmed that the process was in the final steps. I was shocked that PNC was working above and beyond (on a Sunday evening) to close loans and put us in a more solid operating position. Once I confirmed the communication, our organization had the funds in our account within hours.
So I agree that the process was complex, complicated and unwieldy. However, I do think that many banks finally overcame the complexities about the same time. I do agree that many of our organizations had to overcome incredible difficulties in this process but am convinced that we were well-served by our “Big Bank.”
Pat Shannon Jones, Baltimore
The writer is executive director of The Immigration Outreach Service Center.
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