![]() The Paycheck Protection Program (PPP) has been renewed with a second round of relief funds for small business owners. Can you let me know if this is how it was for you too.Īll I got after submitting details on Thursday was "We have received and are processing your request.What the New Round of PPP Loans Means for Your Business Posted JanuBy Kody Wirth It feels like the old loan application and I do not want to re-open it. Are you referring to these when you say docs? It is very confusing as there is no indication that this information is for the new loan application. I see company name and under it Verify additional business owners as Completed and Get Started on Demographic Info form and other forms. It shows Summary and under it - previous loan forgiveness application with a button for See SBA Approved Amount. I tried to login to loanbuilder just now to check on the status. There is no email or any other correspondence after that. We may be contacting you for additional information. Hard not to be.Īll I got after submitting details on Thursday was "We have received and are processing your request. Maybe I am just being too negative about it all. Which does not bode well since all the big sums will go through the big banks I imagine. ![]() Lendio are also struggling it seems and going from the other comments the bigger banks seem to have the edge this time round. My contact from the first loan isn't replying to me so I guess someone else is being assigned. Seems like they are in a mess this time round. I did get an email back today telling me I had submitted all the docs and my loan had been forgiven.I guess they got confused with the first loan. I am assuming it is being reviewed by someone and they have everything they need but they aren't saying anything. Now all the doc entry info has gone and on the main page it says my application is in one of 3 stages - they are reviewing it, docu sign docs sent or sent to SBA. I emailed them saying there was no where to enter it and as my revenue is lower than the limit those docs aren't necessary until forgiveness anyway. The loss in revenue entries had nowhere to submit any docs and I did get an email saying they needed those before they could proceed. They asked for things like ID, bank statement, business license etc. I was expecting very little since there is very little extra that they need. Then when you log in there was a big list of docs they wanted. You will also be able to track the status of your loan application." ![]() Next step is to log in to the loan portal to provide any additional information. But based on excellent first round experience with Paypal, I am hoping they would come around and process it fast and get it approved.ĭid you get any page where you uploaded any documents or proofs ?Īt the end of your application did you get this message: What is interesting was that it did not ask for uploading any documents to show the loss of revenue in the quarter or ang other documentation. This time, all I got was a message that we will process your application and come back to you yesterday. Still waiting or already sent to the SBA and approved? Thanks Just wondering how far others have made it with second draw loans. Getting a bit worried since it has already been nearly 2 weeks since the PPP restarted. I know it has only been 4 days and they are probably swamped with applications but is this happening everywhere else or am I likely to miss out? I also applied with lendio but they are just as slow and unresponsive. However with the second draw I applied for with paypal it seems to be taking much longer with no response from any emails. I was impressed after the first lenders I applied to took forever to do anything. Applied via paypal and everything went through quickly. Received a PPP loan earlier in the year and it has been spent and forgiven.
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