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Status of PPP 2021

smariano
Contributor

Re: Status of PPP 2021

Just got my email confirmation today 1/30/2021 at 3:24PM. Happy to just get some kind of communication 🙂

 

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

RavenManiac
Contributor

Re: Status of PPP 2021

@smariano, I just received the same email message. Woo hoo! It looks like we're all on our way. Good luck guys!

Poolman
Contributor

Re: Status of PPP 2021

Received the 2nd notification, which is identical to the one I received 4 days ago. Some communication is better than none. 

 

 

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

smariano
Contributor

Re: Status of PPP 2021

Just got the same email as @JTinJax  requesting additional documents for Establish Self-Employment on February 15, 2020 (2/1/2021 10:28 AM). Got my business bank statement uploaded. Praying everything moves forward. Just keeping everyone updated, hope this helps 🙂

 

We reviewed the information and documentation provided with your PPP loan application. 
 
Please provide the specific additional information and supporting documentation requested below, so that we can continue our review and processing of your application.   
 
To provide this information, please log into your PPP loan portal (my.loanbuilder.com) and upload the documentation through the “Upload supporting documents” page. Each of the following document categories have been created for you. Simply select “Get Started” next to the corresponding document category to upload your documentation. All requested documents must be provided to complete our review of your application.  
 

Establish Self-Employment on February 15, 2020 
•    2020 invoice, bank statement, or book of record that establishes applicant is self-employed and in operation on or around February 15, 2020 


To continue the processing of your PPP loan application, please provide the requested information and/or document(s) by uploading the PPP loan portal by logging into my.loanbuilder.com. 
 
If you need assistance with this document request specifically, please simply reply to this email. If you have more general questions, please call[Removed. Phone #s not permitted] Monday through Friday, 8 a.m. to 6 p.m. ET. 

JTinJax
Contributor

Re: Status of PPP 2021

You’ll be good. I uploaded a bank statement too. A few hours later I received notification that my application was sent to SBA for approval and yesterday I received an email that it has been approved. PayPal will do final verification and then the money should be deposited into my account. That’s the last step. 

smariano
Contributor

Re: Status of PPP 2021

That is awesome @JTinJax ! Happy that you got approved! Thanks for the encouragement and hopefully what to expect next.

Thankful for our little Paypal Community PPP 2 support group 🙂 Stay well and safe!

 

RavenManiac
Contributor

Re: Status of PPP 2021

@smariano, I just received the same email, which I was happy to provide. Hopefully. we’ll all hear something soon.

Poolman
Contributor

Re: Status of PPP 2021

No progress here. 

 

RavenManiac
Contributor

Re: Status of PPP 2021

Well, it's been 17 days and although PayPal is clearly working on my application, and even requested additional documentation, which I promptly provided, my PPP loan hasn't progressed to the point of document signing. I hope the PayPal underwriters are processing the applications in the order they were received. It would really suck to not get funded because of their technical issues.

 

Has anyone here faired any better?

JTinJax
Contributor

Re: Status of PPP 2021

@RavenManiac  I was funded a few days ago. Did you receive your first ppp from PayPal? My loan was very small....under $20k. Maybe that’s why I got funded so quickly. I also got my first round from PayPal.