Status of PPP 2021

[RavenManiac]

Yes, I received my first round from PayPal as well and my loan is very small as well. Not sure what the holdup is.

[JTinJax]

I think you can call and speak to someone on the phone. They may be able to tell you something. Did you upload the documents to show you were in business in 2020?

[RavenManiac]

I just did this past Wednesday. How long did it take after you uploaded your 2020 proof-of-business documents before you received your loan papers?

[JTinJax]

It was a couple days so your probably fine. You should hear something by Monday I would think.

[smariano]

@RavenManiac  I'm in the same status as you. I uploaded my bank statement on Monday Feb 1st and no other communication yet. Just like you, I hope it's not a technical glitch or oversight that is delaying our process. I'm still anxiously waiting for something! I also used PayPal for my 1st round of PPP and have a low loan amount like @JTinJax  Glad to hear one of us actually got funds, glimmers of hope 🙂 Any update @Poolman ?

[Poolman]

No change, no notices.

[Poolman]

It has been 5 days since I received the 2nd letter thanking me for applying. The letter says I will hear back from them again in 3 days. I called the help desk a[Removed. Phone #s not permitted]and was on hold for close to an hour when an automated message said all lines were busy and then a dial tone. 

[RavenManiac]

Earlier today, I emailed my PayPal contact person and a few hours later I received this email message, which is identical to the one I got on 1.29.21:

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]

Hey guys, I just wanted to let you know that I received my loan documents, signed everything, and PayPal has submitted my application to the SBA. If you filed on January 19th, as I did, you should be very close to getting yours as well. Just wanted to keep you posted. Good luck!

[Poolman]

Thanks for the update. No progress here.