Status of PPP 2021

Poolman
Contributor
Contributor

I have the screen that says "If you are seeing this message, your application is in one of three sequential steps within the underwriting stage."

Has anyone progressed past this?  How long did it take? I have been stuck here for over a week. Any info would help.

 

Thanks

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64 REPLIES 64

SouthernOhio
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Contributor
Did you receive funding?
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Poolman
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Contributor

Received funding in 24 hours after email notification it was approved

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RavenManiac
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@Poolman, that's awesome! Congratulations!

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smariano
Contributor
Contributor

Hi Everyone,

 

Hope you all are doing well. Thought I'd give a status update on my PPP Round 2. Still have not gotten DocuSign and approval. I talked to a customer rep, and due to all the changes that have been going through with Schedule C / Sole Proprietors, or in my case Single-Member LLC. I was basically on pause as of last week, until they got the new application rules and calculations. I'm now receiving the 3 day update emails consistently. Hoping I am not stuck in a limbo state and in a loop, and that they are circling back around to my loan. I'll give it a couple of days, until I reach out once again. 

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JTinJax
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Contributor

Did anyone just receive an email from PayPal about new SBA rules where schedule C filers can get ppp based on gross income line 7 rather then line 31 but that if you’ve already received your loan it can’t be withdrawn? Meaning, you can get a lot more money but only if your loan hasn’t already been funded!?

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smariano
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Status Update. DocuSign docs finally sent on March 17th! Waiting on final review and SBA submittal. 

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luane1963
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Contributor

Have you any update? I did my docusign on March 16th... nothing yet...

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dpmac
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Contributor

Any update? I also signed my docusign papers on March 17th. Still waiting.

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smariano
Contributor
Contributor

@dpmac  Sorry, forgot to update my status. I got an approval email on March 24th and received funds from SBA on March 25th.

Also, on March 22nd I got an email that said "We have submitted your Paycheck Protection Program loan application to the SBA for approval". Hopefully you got that after you DocuSigned, then it's just a matter of the SBA going through there applications.

 

I hope it works out for you and everyone gets the help that they need! It's been a lifesaver!

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dpmac
Contributor
Contributor

Thanks for the info. I finally got the email that my application had been submitted to SBA on April 7. Not sure why it took from March 17 till then, nor why it took from late January to March from the application to the signed papers... It's been a long wait, but looks like we're close to the end. 🤞

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