After you submitted your PPP Loan request with SBA.com®, you should have completed your application with our partner through their application portal. You should have received an email from our partner with your account details to access the application portal and check your application status.
How long does it take PPP to approve loan?
Once your loan is approved, estimates are that it should take approximately 5-7 business days for your funds to become available. By law the your lender has up to 10 calendar days to fund your account once it receives notification of your loan approval from the SBA.
Are there any questions about the PPP loan forgiveness application?
As GrowthLab dives into everything PPP, we have fielded many questions during our weekly GrowthLab Jump sessions, office hours, and in customer meetings. Here are the top 15 questions about the PPP Loan forgiveness application process that we encountered during our live GrowthLab Jump session on Monday, June 29th.
What do you need to know about second draw PPP loan?
One of the documents a potential borrower may want to use to assist with thinking through and in the documentation of this certification is the Questionnaire for Loan Necessity that was used in the first round of lending for loans over $2 million dollars. This is available on the SBA website.
Can you use an EZ application on a PPP loan?
If you didn’t hire somebody to replace that person, then it would bring your FTE down. That said, if you offered to have them come back and they said no (maybe because they’re making more money on unemployment), then you may be able to use the EZ application (use the Application Decision Tree to check).
Do you have to include affiliates in PPP loan?
A borrower needs to include all domestic and foreign affiliates unless an affiliation waiver applies when calculating headcount.
