He double-checked my account for me and verified that I was approved on my loan and that it could take 3-4 business days for the underwriting team to get the funds deposited into my account and to get the portal updated reflecting my loan.įINALLY got the app to submit on PayPal/loanbuilder (like others, have rental property that function as businesses and realized my business is in my maiden name and my SSN is in my married name).Īs a hail mary, I added my married name to the app in the last name box so it reads Maiden Married, and made the move from "YES" other businesses to "NO" other businesses - I figure I will clear both of those things up if needed later - and WHAMMO. He told me they've had multiple calls about the portal showing that message, and it's just an issue with the portal. Not sure what is going on at this point.ĮDIT 4: Just got a hold of someone from the provided phone number. I have called the number 7 times and each time I either get a line busy signal or get placed on hold for 5 minutes and then the call is ended. It now says that I have no loan applications or loans currently and gives me a phone number to call to check my eligibility for a loan. After about 30 minutes of refreshing my email, I decided to log back into the portal and check it. I logged into the portal and saw that the status had moved from Underwriting Review to Sign Loan Agreement. Seems like the train is chugging right along.ĮDIT 2: already got email with docusign documents, just submitted so we'll see how it goes from here.ĮDIT 3: This morning, I got notification via email that my application was approved via the SBA and that the funds would be deposited into my account. We will be in touch when the review is complete or if any additional information is needed".ĮDIT: and now when I check the Summary in the portal it has a loan amount and has moved to the step of "Underwriting Review". Submitted all of this and it now says "Your application is currently under review. Did so, and was then prompted for bank information, payroll calculations, and supporting documentation. I just went through this, and after the last page was prompted to create an account to submit additional information. It's a huge relief to see the PPP funds in our account. To those of you still waiting for your loan I feel your pain and hope you get through the process soon. Fuck Chase - we're moving to a small local bank after things settle back down. Still waiting SBA.Ĭhase (our business bank) gave us a pending loan number after filling out a PPP app on 4/3 but we never heard back from them again. She said we should just wait for a loan officer to call us. She was nice as she said, Oh, it's going to take at least a month for anyone to get any money. 376# Oh, I did talk to the SBA after waiting on hold for three hours on or around 3/30 and the lady laughed at me. Completed short form on 3/30 and still have heard nothing. SBA EIDL app was completed 3/21 (long form) and we received a number. One was a loan note.Ĥ/15 8:30 AM - Received email saying loan approved by SBA.Ĥ/15 10:30 AM - Received funds in our bank account. $217,000 funded today via Paypal to keep our 28 employees employed.Ĥ/14 2:00PM - Submitted app with copies of our quarterly payroll reports to Paypal.Ĥ/14 2:45PM - Received two Docusign emails from Paypal. Paypal was the best and fastest funding choice for us after the SBA and Chase both failed to move on our apps or should I say just FAILED. Location Specific Small Business Subreddit
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