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Status of PPP 2021

RavenManiac
Contributor

Re: Status of PPP 2021

That's really good info. I'm so desperate for funding that I may have taken the bait. Thanks for letting us know. 

Poolman
Contributor

Re: Status of PPP 2021

Thanks for the info. On my side: Thursday 1/28 11:am and no changes in 2021 PPP status.

JTinJax
Contributor

Re: Status of PPP 2021

Same. And I just got a second spoof (phishing) email to another of my email addresses that I did not ever use for anything related to PayPal, SBA or PPP. 😕

JTinJax
Contributor

Re: Status of PPP 2021

I just received an email from loan builder asking me to upload a bank statement from February 2020 as well as a 1099 from 2019 showing I’m self employed. Makes not a lot of sense since they already have my schedule C from 2019. I don’t get a 1099 because I’m an all cash business. The representative said to upload a statement showing I was self employed. Shouldn’t my 2019 schedule C suffice? She said I could upload a bank statement instead which is odd. I don’t know how a bank statement shows I’m self employed. Did anyone get the same request?

RavenManiac
Contributor

Re: Status of PPP 2021

Well at least you're making some progress. 🙂 I still haven't heard boo.

 

I would think a Schedule C would suffice, but maybe this time around they need two forms of proof that you own the business. 

JTinJax
Contributor

Re: Status of PPP 2021

Yes, I agree. It’s so nerve wracking to me. Probably good that you haven’t heard anything it may mean you’ve already uploaded all the correct documents. 

smariano
Contributor

Re: Status of PPP 2021

Thank you all for your chain of communication. I am in the same boat as all of you and felt like I was the only one and couldn't get any answers. I as well applied on Jan 19th and completed application and all docs uploaded at 11:36am. Checking everyday on my loan builder site, and same message. Have not received any email or communication. I'm encouraged to know that you all are getting some response now. I'll update my post when i get any new information. I did have a friend that got approved by the SBA through her small bank Bank of the West, that she business banks with already, so I do know that the SBA is funding PPP 2 loans. Praying we all get approved and some relief. Stay safe everyone!

Poolman
Contributor

Re: Status of PPP 2021

This is what I received ( via email) Jan 27th @ 1am.  I will continue to update.

 

Dear ___________,

Thank you for applying for the Paycheck Protection Program Loan through PayPal. We have received your application and documentation. Currently, your application is in a pending status while we complete our review of your application and supporting documentation. Once we complete that review, we will either send you an email requesting additional documentation or information, an email with documents that require your completion and electronic signature via DocuSign, or a notification (as required by law) providing the specific reason(s) why we were unable to approve your application. Given the high volume of applications, we appreciate your patience. We are doing everything we can to process your request. Another email update will be sent to you within three business days. You can also check the most current status of your loan application by logging in to our PPP loan application portal.

 

Sincerely,

The PayPal Paycheck Protection Program Loan Team

JTinJax
Contributor

Re: Status of PPP 2021

I was asked for additional documents. I uploaded them. A few hours later I received the forms to sign from DocuSign. Received an email shortly after that my application was submitted to SBA for approval. My loan was probably small compared to others so may be why it went so quickly. 

smariano
Contributor

Re: Status of PPP 2021

Great news! Hope you get a quick SBA approval! Thanks for the update, and creating this post.