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Status of PPP 2021

Poolman
Contributor

Re: Status of PPP 2021

Last e mail was 8 days ago. It was the second email confirming the application was "stage 1". It also stated I would be notified again in 3 days. I have not received any communications in 8 days. I understand the backlog, but how hard is it to send another e mail? And if it is that hard why promise it?

 

smariano
Contributor

Re: Status of PPP 2021

@RavenManiac That's great news! Thanks for the update!

 

@Poolman I agree. I think their emails are automated and triggered by events.  When I got the email for additional verification, the website changed from the standard you are in 1 of these 3 steps to an upload option. Then when I uploaded my bank statement, it went back to the standard verbiage of being in 1 of these 3 steps and haven't heard anything since. Like you, I'm anxiously waiting for an answer. I do not want to apply with another bank since I've already done everything with Paypal. Hoping we all get some good news soon!

Poolman
Contributor

Re: Status of PPP 2021

Finally!!!!    Just received docusign, everything went smoothly. This email came a few minutes later.

Dear XXXXXXXXXX,

We have submitted your Paycheck Protection Program loan application to the SBA for approval.

No action is required of you at this time. We will notify via email when we receive a response from the SBA.

You can check the status of your loan application at any time by logging in

Sincerely,
The PayPal Paycheck Protection Program Loan Team

smariano
Contributor

Re: Status of PPP 2021

@Poolman  That is awesome! Thanks for the update and hope you get SBA approval soon!! Still waiting for communication on my side, but very hopeful!!

Poolman
Contributor

Re: Status of PPP 2021

 

NEWS!!!!!!!!

 

 

Dear XXXXXXXXXXX,

Congratulations! We are pleased to let you know that the SBA approved your Paycheck Protection Program Loan for XXXXXXXXX    and assigned an SBA loan number. Your approved loan has moved into the funding review stage of our process.

We will, subject to final validations, disburse your PPP loan proceeds to the bank account you designated as part of your application by wire transfer. Another email will be sent to you after the loan funds are disbursed.

We know these are challenging times. Please be assured we are doing everything we can provide you with access to your loan funding as quickly as possible.

RavenManiac
Contributor

Re: Status of PPP 2021

@Poolman , that's great news! I just received my SBA deposit a few days ago, so I'm good to go as well. I really appreciate everyone who participated in this forum and I wish you all the best moving forward. Stay safe and have an awesome weekend! 

SouthernOhio
Contributor

Re: Status of PPP 2021

Did you receive funding ?
SouthernOhio
Contributor

Re: Status of PPP 2021

Thought I would give my timeline/status for applying for PPP round 2. I will note that I applied for round 1 with PayPal, so I thought it would be easier to stick with them for 2. 1/19/21 Applied for PPP round 2 1/21/21 uploaded additional docs in Loan builder. 1/26/21 in loan builder there was a link to submit additional documents but no email to tell me what docs they needed. I called Customer service waited 56 minutes to find out that they weren’t sure if I wanted to use 2019 or 2020 figures. I picked 2019 because they already had that info from the first draw. 1/27/21 received email from a level 1 caseworker that he needed a long list of items I had Already uploaded. On the email it stated if I had Questions to respond to the email or call the customer service. I emailed Back that that documentation was already submitted, but received no response. I also called the case worker direct line that was given in the email, left voicemail. 1/28, 1/29, 2/1, 2/3, called PayPal customer service for ppp. Each hold was 45 min to 1 hour and was told something different every time. 2/4 received a call from case worker 1 to say that all he needed was proof that I was In business on 2/15/2020. And if I uploaded it that day I would have loan docs from DocuSign the next day from a case worker level 2. I did Not receive the loan docs the next day but did the following day. 2/6/21 ( Saturday) I received loan docs via DocuSign. Signed immediately and submitted. Today 2/12/21 I’ve received no other communication from PayPal . I’ve received no funding. I’ve called and emailed. No response to any emails but customer service says they have my DocuSign, they are busy and it’s with an underwriter. Hope this helps someone who is waiting as I am. Oh and the automated email from PayPal i told comes every 3 days but those email stopped about a week ago.
smariano
Contributor

Re: Status of PPP 2021

@Poolman That is awesome! Best of luck, and stay healthy and safe!

 

@SouthernOhio Thank you for sharing your experience and timeline. I am still waiting for a review and Docusign Documents. This forum has really help me keep my calm and stay engaged. Hoping all works out for everyone and we have better times ahead!

SouthernOhio
Contributor

Re: Status of PPP 2021

Did you receive funding?