Suntrust SBA PPP Loan Application Denied

On Tuesday, April 7th, 2020 we have learned that of $61B in PPP loans approved, biggest two industries are Construction at $9B and Manufacturing at $7B. SBA has increased customer service reps from 300 to 2,700. If you are in a different industry, you may find it difficult to get your SBA PPP loan.

Sunday was a very important day for the SBA PPP loan program. Around 10:00 pm est Wells Fargo announced they were closing the program due to strong demand and fulfillment requirements. If Wells Fargo is closing the application options, it could very well happen with Suntrust. Get your applications submitted as soon as possible.

Borrowers are reporting (Sunday, April 5th, 2020 around 2:30 pm est) they are getting to the payroll calculation page of the application and it states there is an error even though there isn’t one. Is this happening to you? If you got past this part of the Suntrust SBA PPP loan application comment below and let us know how you did it.

On April 5th, 2020 (a Sunday!) Suntrust is active on Twitter addressing customers needs. Well, as much as they can. They are asking those looking for the SunTrust SBA PPP application to remain patient and sign up for email alerts here. We would imagine that as soon as the program is available a mass email will go out and borrowers will be scrambling to get their application submitted as soon as possible.

Here is a conversation from SunTrust on their official Twitter account. Click here for the full conversation.

From our understanding, you will get an SBA ETRANS number or assignment/commitment number which means the money is guaranteed to be in your account. As to when the money will be in your business bank account, that we do not know. 

On April 4th, 2020 President Trump explained the SBA PPP loan program is way ahead of schedule. Those looking for a SunTrust SBA PPP loan would disagree. Here is President Trump’s answer:

On April 3rd, 2020 the SBA PPP loan program went live. Unfortunately, things have not gone well. Banks like Bank of America have specific requirements, yet Wells Fargo and Citibank don’t even have a loan application available. For more information on the SBA PPP loan program you can go to this page.

Here is a tweet from Saturday, April 4th, 2020 from someone that woks at a bank:

We have heard that Suntrust small business customers are getting denied after submitting an application. If you are a small business that is trying to get money to make payroll and pay rent in April 2020 please comment below. We would love to hear your story and help you find a way to get your loan approved.

Here are some small business owners voicing their opinion on Twitter. It does not look as if things have improved on Saturday, April 4th, 2020:

50 replies on “Suntrust SBA PPP Loan Application Denied”

What is wrong with you people? Why cant you all just be patient? We have to wait to see what is left after the bank CEOs get paid first. Duh!

The SunTrust PPP application is not letting you save your information. You get halfway through and you get an error message. I’ve done everything I can and I still get the error message.

Check your EIN numbers for each of the owners I noticed that the website fills them in automatically with the password for the website I changed that to the actually IN number and I think my application got submitted although I haven’t heard anything back yet

I’m stuck there as well. Must be some type of issue with the form. Hopefully they will get this fixed. A tweet says they are aware of it and trying to fix it.

I have been able to fully complete my application after receiving an email invitation from Truist at about 11:30pm on Sunday 4/5. I submitted the application and then was taken to a Truist PPP Dashboard and was able to upload a few documents that they have requested.

I received an email confirmation that my application was received and that I should check on the Truist PPP Dashboard to see what documents are required to be uploaded.

I am not sure what the next step is.

I keep getting an error on the first part of the registration page. “An Error occurred during the application process” Ugh!

Restaurant owner here! 10 years. One independent hard working restaurant with 21 laid off employees and one owner with zero income and rent, food wasted and utilities etc piling up. I’ve been with SunTrust for 40 years. Have spoken to all types of suits and am promised they will be in touch. Lies.

I get the error message, “An error occurred during the registration process. Please check your selections and try again” on the very first page.

I got my application submitted Sunday @ 1pm.

Added my additional supporting docs as well – PPP worksheet & IRS 941 forms for the last 5 quarters.

No updates by email or when I login, so no real clue when I’ll be accepted / denied / funded / etc.

I submitted through Suntrust online Application after receiving an email Sunday AM. We’re business checking customers + CC, but no other loans through SunTrust / Truist / BBT.

I received an email link Saturday night application was complete down loaded some supporting info but when I submitted application email reads undeliverable. Did it go thru or not

Same here! I went thru the application then received an email saying it was undeliverable.
This is batons frustrating and very scary..I own two small businesses, 16 employees…still have them on payroll…something has to give here.

SunTrust is also only allowing you to report your payroll expenses. they have a worksheet they have created and the worksheet only includes payroll expenses to be submitted as part of the loan application.

They are not accepting operating expenses such as rent and utilities???

We have had a banking relationship with SunTrust now for 10 years and have a dedicated banker to our business. This banker is clueless!!! The left hand has no idea what the right hand is doing.

I have tried to establish a username and password since 7:00am est yesterday. After calling Suntrust 3 different times yesterday, I was told to “keep trying”. It’s very frustrating because I can’t even get past the initial step.

My association is a SunTrust business client. I have tried several times to access the application portal without any success. Each time I attempt the login to the application portal I receive any error message. I receive messages from PPPLoan client services asking me to resubmit my business details. I have been attempting to access the portal since Friday the 3rd with no luck.

I have completed the Suntrust application and uploaded the worksheet and my 944 for 2019 but the “to do” list includes an upload slot for Addendum A(if required) for affiliation verification and another upload slot for SBA Disaster Loan Documentation(if required). Just what the heck are those? I cant proceed and am not getting any confirmation etc of what to do next.

My loan was accepted but on the dashboard it said that the original loan amount is $3700. Were did this number come from? Sent email and is says to make sure their is a money bag next to it. There was but they said I should re-apply ???

The loan amount is automatically generated by the amount you key in as average monthly payroll. That number is multiplied by 2.5 and then rounded off to become your loan amount.

I was able to submit the application, but my To Do list shows that I have 11 more documents to upload (I already uploaded the application and payroll docs – I use SunTrust payroll), but I have no idea what those are. I wrote an email asking and they just said that those are available for “if you need them”. But, I have no idea when I’ll know if I’m approved. No updates on the Dashboard. Very confusing.

Can’t get past the Signup Page. I keep getting this error message whenever I click continue: “An error occurred during the registration process. Please check your selections and try again.” I’ve been trying since the evening of April 5. I’ve called 4 times. They say they know about it and to just keep trying. Going on the third day of this. Help.

An error occurred during the registration process.

Please check your selections and try again.

No one that I called knows anything about it. Was told to do everything but hold my breathe while doing it. I’m just going to email my info in as a placeholder…

I am in the same position. I continue to receive the error message without any success. I’ve received several messages from data support with looping canned messages. I am copying my SunTrust representatives on all the emails and I know they are trying to assist me. SunTrust clearly was not and still not prepared for this process. This is my 6th day and I cannot access the application portal.

I have a personal banker at ST in West Palm Beach. He seems to be trying to help and I am putting all my faith in him. I have been banking with ST for over ten years. The application also sent me a failure to send after I submitted it. However when I re-log into the dashboard it appears with the green sign they say should be there to confirm a successful submittal. I submitted on 4/6. I do find it strange that we don’t know much more. Hoping I’ll hear soon.

Is there anyone at all who has had success getting the application in? I mean, all the way through the process….If so, it would be great to know what your business type is…how many employees, etc. I’m a sole proprietor so I’m the only one on the “payroll”; I’m losing faith fast that there will be nothing at all left for those of us who don’t really need much compared to the BIG/small businesses. I mean, I’d be happy with $1000 at this point!
Don’t you think all this loan funding should be broken up into categories where there is a determined amount available for sole proprietors and independent contractors? I believe there needs to be a tier system so that everyone stands a chance.

I was able to get all the way through the process. I am a small service related business with 7 regular FT (W-2) employees. My assumption is that my loan application will be assigned to a SunTrust loan officer who will make sure I am qualified and then send it on to the SBA for review and hopefully approval/funding. When you say you are on the “payroll” I assume you are a regular W-2 employee with both personal and company withholding?

Hi Nate. I’m not even able to get past the window where you “sign up” to apply. So I haven’t gotten anywhere with the application. As far as payroll, I dug into the instructions and clarifications that the SBA provides and found that as a sole proprietor, with 1 employee (myself), my average monthly income is considered payroll expense. To clarify, I don’t have a tax ID – just using my social sec.
Also, I do not have a separate business account, I’m using my personal account for everything…

That could be the problem. You are probably considered an independent contractor and the application process doesn’t open for IC’s until tomorrow.

I have spoken to several colleagues and they seem to be having the same challenges mentioned here. How do we get help.

SUNTRUST/TRUIST NEW INFO for “An error occurred during the registration process. Please check your selections and try again.”

Talked with someone today that said if you only have a personal account, that is why the error message is coming up. They said if you don’t have a business checking account then I’m not eligible. Been banking with them my entire life, paying my employees out of my personal checking account, and 1099ing them. Adding to that, they said I cannot open a business checking account and get the PPP loan because it had to be open prior. Freaking ridiculous. Not cool. And a waste of my time. 3 days of trying and calling numerous times. Then I get this answer today. Suntrust could have informed us that we are wasting our time. So many of us small business, self-employed (sole-proprietor) people are falling through the cracks and having to close down forever because of no help. The stimulus is supposed to include us! But not according to Truist. I can’t believe banks like this are not helping their long life-time customers…. Sad and pitiful.

Nicholas, Do you pay yourself on a W-2 or 1099?
All 1099 applications won’t be entertained until Friday the 10th. You might want to try a small community bank vs. large bank.

Hi Nicholas. Just letting you know I finally got this information as well…regarding the fact that you must have a business account that is separate from your personal account. I asked about setting up a business account and yep, as you said, it won’t matter now because you had to have had one prior to Feb. 15. Sickening. I immediately switched gears and call the SBA to see if there were any options for people like me and you. She recommended the “economic disaster injury” loan and stayed on the phone with me, walking me through the application for it. My understanding is that we’d get up to $10K just like what the SBA PPP loan is saying we’d get. She couldn’t confirm that Suntrusts statement about personal vs. business accounts though. All the SBA can do is refer us back to Suntrust for answers. Hope this helps…

I finally got my application submitted to SunTrust on Monday 5/6/20. We have two affiliated small businesses, S-Corps, 29 total employees, and by their own posted tip sheets and SBA rules, the data for these two can be combined. I uploaded all needed documents (as far as I know) but HAVE NOT HEARD A WORD BACK. No call, no email,no comments on the Dashboard. NOTHING. ZIP ZERO.

I am otherwise an extremely patient person. This has been so frustrating and no answers provided by anyone. People working at my suntrust branch keep telling me to call the sba. When I call them, they say the questions must be directed to the bank. Is there anyone here who is a sole proprietor or independent contractor with who uses their personal account to run their business?

Applied on Sunday. Took awhile since the site was continuously showing an error message for most of the afternoon. Was able to upload the supporting docs with no issues. Got an email within a couple of hours to acknowledge receipt of the application and confirm loan amount. Today got an update that they would get to the loan application in the order that it was received. They will advise if they require further documentation.

Hi Nate, were you able to receive funding? I was told that if your application was not submitted by 4/6 that likely you would not receive funding.

I want to check and see or others receiving funding if submitted after 4/6.

I received a call yesterday that my application is now being reviewed and processed. I wanted to provide an update to my previous post.

Thank you!

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