PPP Loans Through the Forum

[XandasKitchen]

Not that you can't, but that some banks have decided they don't want to. It depends on the bank, but it's definitely something that I've heard come up. So if you skipped the last round and decided to do this one and your bank says no, that's a situation where trying an online lending platform is probably the best bet.

The opposite is happening too, banks that approved the first one, don't want to do the second one!

[Melanie O]

What's the reasoning for that one?

[XandasKitchen]

That the SBA is breathing down everyone's neck this time

[Blue Hen]

Just a heads up that the federal PPP loan deadline is March 31st and word on the street is that banks are already beginning to stop accepting applications to make sure that all the ones that have come through to them so far, are processed before the deadline. So if you're reading this and thinking about doing it, better sooner than later. https://lp.lendio.com/smallbusinessf...lBusinessForum

[Melanie O]

So... what's new in PPP land, everyone?

[Blue Hen]

It's likely that the PPP deadline is going to be extended. I think Congress just needs to vote on it. I'm told that several people have applied for PPP funding using the form on our website, but we don't get access to see who or anything like that. But that is great to hear and I think that anyone who is thinking about it but isn't sure if they'll get approved for it should apply and find out rather than wait until the deadline has passed.

[Blue Hen]

I received an email from Lendio that they are only going to be processing PPP applications from existing customers only going forward so it looks like the door has closed here. Hopefully whoever on this forum that wanted to take advantage of it already did. We're going to take the banners down.