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Bank of America complaint: PPP Loan Forgiveness

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Filed 5 Oct 2021 by Elizabeth

My business received two PPP Loans during the pandemic. When time to apply for forgiveness, the first loan was not entirely forgiven and $15,000 was converted to a loan, when I called they said a Schedule C was missing from the documentation and that someone would send me a portal llink in order to provide it as all documents needed to be send through this portal and then the portion of the money that was turned into a loan would be forgiven. That portal never came. Subsequently, the second loan came up for forgiveness and it in fact was forgiven in full. I then started receiving collection notifications that the converted loan was in default. tried and tried to get through to Bank of America. Called the SBA. No one would help. Finally received a call from BOA collection agency and I sat on the phone to talk to a PPP loan forgiveness specialist which took over an hour only to be told that they couldn’t help me because the case was closed.

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