RETURNING PPP LOAN

[Loangal]

After much stress and heartache we have determined that the PPP loan that we just received will do more harm than good for both us as business owners and for our employees - who are getting paid more to stay on unemployment.  to that end we have decided to close our business and want to return all ppp funds - but I can't find any instructions anywhere on how to do this.  Does anyone have any experience or input?  thanks in advance!

[gimmi80]

Same here. I would like to return the money. How can I do that?

On the Note I signed the lender is WeBank, the wire came from Zion Bank

[2020123]

I tried calling both WeBank and Zions Bank, they were unable to help me and said we had to go through PayPal. 

[Loangal]

This is crazy!  I just got an automated email from Paypal outlining the current guidelines on loan forgiveness.  I replied to that email address with a request to return all loan funds and nullilfy all loan documents - I hope it gets to someone who can respond.  It may not go to a valid email - but at least I tried.  There is absolutely no other way that I have found to reach anybody at Paypal to help.  PAYPAL IF YOU ARE READING THIS PLEASE HELP US!!!!!

[2020123]

I just got through with PayPal Working Capita[Removed. Phone #s not permitted]and [Removed. Phone #s not permitted]. They said that you have to go through the lender, WebBank. They said that they cannot do anything to help. 

So it sounds like we are getting the runaround by both companies. 

[2020123]

Here's the link where I found the #s/info: https://www.webbank.com/our-brand-partners/paypal

[rose2000]

Same here- my business is shutting down and my employees are better of on unemployment- I need to return the ppp 😞

Is it true that the deadline of returning PPP is May 14?

[gimmi80]

A few days ago I logged into my account and requested a payoff, specifying I wanted to return the PPP. Today I got an email with instructions on how to send back the money via a wire transfer.

[2020123]

We got the same email - is it legitimate? Was it from a no-reply salesforce account?

I worry about rewiring the money when I can't physically talk to somebody on the phone. 

[gimmi80]

I also was a bit skeptical. But I did some internet research and the email it came from (Patrick Fla**ty, editing for privacy) seems legitimate. Also bank information were PayPal banking info, it matches company registration (Delaware). They also knew the amount of the loan to the cent, I don’t think that’s public information... I guess I’ll find out in a few days, see if my account has been credited or not. I kept a proof of all communications and records.