Any USAA instruction for help with PPP or EIDL Coronavirus forgivable loans?

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I understand that USAA isn't a business bank, but many of your members rely on you for their banking and don't have relationships with other banks.  I've tried to get in touch with multiple other banks to apply for PPP funds for my employees but the banks aren't taking new customers, only dealing with existing customers.  

Feels like being a USAA member made it very difficult for customers access this federal Coronavirus bailout package by not being an SBA lender, or working on a pathway for us to access an approved SBA lender. 

Has anyone had luck with going through a new bank?  Please let me know how to go about it if so. Thank you

4 REPLIES

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Hello and thank you for your message regarding Paycheck Protection Program (PPP). At this time, USAA does not participate in this program. We recommend you visit www.sba.gov to find a list of participating lenders. In the event USAA does participate in the program, we will update this information on USAA.com. If you already have a loan with USAA, please chat or call us to see how we can assist you.  You may reach us at 1-800-531-8722 or 210-531-8722 or #8722 from a mobile device. Our normal business hours are Monday - Friday 5:00 a.m. to 12:00 a.m. CT; Saturday 6:00 a.m. to 10:00 p.m. CT and Sunday 8:00 a.m. to 6 p.m. CT. Thank you so much!

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Yes but the problem is that SBA lender banks are not taking new customers. At least I didn't have luck with Citibank, BofA, Royal Bank, and a couple of other small ones near me.  They are focussed on serving their existing customers.  I don't have a loan with USAA, nor do I want one. I want the forgivable loan that everyone else is getting through PPP or EIDL.... But, because USAA isn't getting involved, it's putting a lot of us that bank with you in a situation where we wont get this bailout money. I wish you could at least try to streamline a partnership with another bank that your customers could use.  

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I agree. I just got off the phone with our state congressman, Rep. Stivers, who told me to reach out to USAA for a pathway to lenders that would be friendly to USAA banking members. Am I correct in assuming that USAA has no such relationship to refer us to another bank for PPP program?
On another note, I am part of veteran networking groups who have forwarded me info on 3 banks that are helping new clients. I have not contacted them yet.
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@Longtimemember5 At this time, USAA does not participate in this program. I would recommend you visit www.sba.gov to find a list of participating lenders. In the event USAA does participate in the program, we will update this information on USAA.com. If you already have a loan with USAA, please chat or call us to see how we can assist you.  You may reach us at 1-800-531-8722 or 210-531-8722 or #8722 from a mobile device. Our normal business hours are Monday - Friday 5:00 a.m. to 12:00 a.m. CT; Saturday 6:00 a.m. to 10:00 p.m. CT and Sunday 8:00 a.m. to 6 p.m. CT.