Another provider has already secured a PPP loan for your business/organization

[NetworkMakers]

Hi guys - 

I have a quick question - we have submitted a PPP application to SBA through PayPal, and have just received the following email note: 

=== Begin Quote===

Thank you for applying for the Paycheck Protection Program Loan through PayPal.  
We submitted your completed application to the SBA and have received a response from the SBA indicating another provider has already secured a PPP loan for your business/organization. Each business entity can only receive one PPP loan. Therefore, we will not be able to continue the processing of your loan application.
If you do not have an approved Paycheck Protection Program Loan through another provider, please click here to provide your feedback so that we can follow-up as appropriate.
=== End Quote===

Since we have only ever submitted one PPP application - through PayPal - we are a bit confused and concerned. Does anyone else have an idea what is going on and what we can do? Do we need to be concerned about identity fraud?

We would be grateful for any response. Thank you!

[Usherperl]

It’s really crazy I tried to contact them over the phone and many times I wasn’t able to speak to someone that knows ABC’s one time I got a representative that Told me I should press the link on the email but no response I hope I will not lose my money

[Aldais]

Ok just want to update everyone. Today I received a notification that web bank ran inquiry on my credit. I believe application is processing regardless of that email. As long as you answered the survey and mentioned you haven’t received funds through other lender. I think they just want to make sure. Good luck to all

[Cloverfield20]

I wanted to update everyone. I logged in to my loan builder account and the loan amount is showing as issued with due date. PayPal processed my loan, based on my experience I’m almost certain PayPal is working on other loan as well. Thank you PayPal, though I would have appreciated an email to calm my nerves

[AgentAaron]

Just got a call from PayPal. They said the email was sent out in error and I should be receiving my funding in the next day or two. 

[Usherperl]

update that I got B'H the money into my bank account 

[jamie716]

This is Jamie from the PayPal Paycheck Protection Program team.  We are of this issue and are working on resolving it. We will be providing updates on application status through email shortly.

[NetworkMakers]

Just wanted to post a quick follow-up: few minutes ago I received a phone call from PayPal. According to a very professional tech on the phone,

the issue was caused by the lag in PayPal systems connecting  PayPal/LoanBuilder to SBA. They are aware of the problem and will resolve it shortly, according the rep.

Well, that is good news. 

[DesignPoint]

Just wanted to share our experience with this issue. 

We applied on April 20 and completed our docusign request on the 23rd. On Sunday we also received the "Another Provider" message. We had not applied with any other institutions, so I responded to the survey with that information. 

I had not yet contacted our local SBA branch, though that was my plan for this afternoon. However, I just received an email from Paypal that said our loan is approved and funding is on the way. 

So it appears that this was in fact just a glitch. Hopefully it works out as well for you all as it did for us. I'd even hazard a guess that the ones who got that email are the ones who are pretty close to the end of the process. So you may be getting good news sooner rather than later!

[atlagsgp]

As many in this thread, this occured to me over the weekend. But as a few have reported, this appears to have been a glitch on their end. After no answers from PayPal for the past 2 days, today I received an email that I was approved and I have the funds in my account. If you are in this group, you should hopefully be getting good news shortly. 

[netbonds]

Good news, my loan was funded and received funds already. PayPal said that the other email was an error. All good!