Paycheck Protection Program

[PayPal_Olivia]

Hi everyone,

I'm pleased to announce that PayPal is working with the US Federal Government to participate in the Paycheck Protection Program to provide access to loans for US merchants. This program helps small businesses cover operating expenses and keep employees on the payroll. Visit our Paycheck Protection Program site for details on applications, allowed loan uses and loan eligibility.

Please note that our customer service agents can’t accept loan applications or provide loan status through any of our contact channels. To check the status of your loan or for additional questions, please go to the Paycheck Protection Program loan site.

Thanks!

Olivia

[Johnc817]

At this point assume it’s out of money and look for other alternatives.

[Johnc817]

I’ve applied yesterday and within 2 hours got a Sba loan note and PayPal loan agreement. Signed. All excited. But heard nothing since.

[gunzzle00]

This is amazing however when we aren't able to upload docs because the site is broken it doesn't do us any good.  We aren't receiving support or calls to know how to resolve this.  We know loans are being pushed through because others are reporting it.  Can someone provide support to the ones whose portals are broken for some reasons?

[SLMO]

PayPal's process is an absolute joke.  Submit application and then absolute radio silence and no way to get status.

[MrsEricaNicole]

I applied for the paycheck protection loan Monday and receive paperwork regarding my loan details, I signed it and haven’t heard anything else. I’m a little worried. Please advise.

[Johnc817]

Me too.

[BigTempo407]

just got an email saying off the money is gone. well Where the hell is it???

Thank you for submitting your application for the Paycheck Protection Program loan through PayPal. We're here to support your business during these challenging times.

We recently learned that the initial $349B in funding allocated by the US Government for the Paycheck Protection Program has been depleted. It is, however, anticipated that additional funding may be designated by Congress for the program.

While there are no guarantees of additional funding becoming available, we plan to continue our processing and review of your application for eligibility while we await word from the US Government on additional program funding. However, we will not be able to approve or fund any pending applications unless such additional government funding for the Program is authorized. Please do not reapply with us, as this will only slow the process.

We appreciate your patience as we continue to work through this process. We will provide updates on the status of your application through email.

[Johnc817]

Interesting. I just got a DocuSign email saying my application was voided. Then i got a new DocuSign email to resign everything. Now it’s back to underwriting review. No idea what they’re doing

[le2015]

Exact same thing happened to me except I have not received new documents. My loan docs were voided and there is no update on the site as to why. Also, initially I could see the status bar on the left that said "underwriting review" etc. Now all that shows is this message:

"Your application is currently under review. We will be in touch when the review is complete or if there is anything else needed."

The bar on the left with the green checks is gone. I had already signed the documents and they were subsequently voided. What's going on?

[nanckers]

Does anyone know if PayPal charges their own transaction fees associated with a PPP loan?