I'm pleased to announce that PayPal is working with the US Federal Government to participate in the Paycheck Protection Program to provide access to loans for US merchants. This program helps small businesses cover operating expenses and keep employees on the payroll. Visit our Paycheck Protection Program site for details on applications, allowed loan uses and loan eligibility.
Please note that our customer service agents can’t accept loan applications or provide loan status through any of our contact channels. To check the status of your loan or for additional questions, please go to the Paycheck Protection Program loan site.
Thanks!
Olivia
If this post or any other was helpful, please enrich the Community by giving kudos to its author, accepting it as a solution, and/or coming back to assist others. Members make this Community great!
So I received the link to apply for the assistance and after filling out the first page it will not continue to the next. Just an endless loop and reset. Anyone else having this issue?
So I received the link to apply for the assistance and after filling out the first page it will not continue to the next. Just an endless loop and reset. Anyone else having this issue?
So I received the link to apply for the assistance and after filling out the first page it will not continue to the next. Just an endless loop and reset. Anyone else having this issue?
The link takes us to the same page. It’s not the link to actually apply for the paycheck protection loan. There’s no link to start the application. Seems PayPal forgot to make the link live. 🤷♀️
Is it required that you apply through PayPal as lender just because you're a PayPal user? Seems to me like you can use any lender that is participating.
"You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program."
We completed the initial PPP application through PayPal yesterday around 2pm ET and received this message
"We're sorry <our company name> is not eligible for a Paycheck Protection Program Loan through PayPal
An email will be sent to you at <my email address> containing additional details and reasons."
That is all it said and we have not received any email with additional details and reasons so we have nothing we can do. Has anyone else experienced this?
Yes. I have been a member of PayPal for probably 15 years. I got a denial because they said I didn't send sufficient information. I sent them everything they asked for ...and they never contacted me asking for additional documents. There is no way to effectively communicate with anyone about this. I am very disappointed. I might be a small fry 1099 contractor but the company for whom i contract a do about $3 million dollars worth of business is not, and they accept PayPal as payment. I am not so sure about whether or not we will continue with that.
Yup! I got the same exact email. Sent over schedule C docs, xlsx file, etc. etc.... and they killed it. No communication. Last time I spoke with them, they told me all was just fine.
Lots of wasted time. My trust level in PayPal has plummeted.
