Skip to content

THIS JUST IN FROM THE SBA

  • Share:
April 06, 2020

THIS JUST IN FROM THE SBA
"We now have a web page where everything you need to know about PPP is available to lenders, borrowers, and an  updated lender locator.  That site is www.sba.gov/paycheckprotection.  You can send borrowers who want to know how to participate, lenders who want info, and the lender locator. 

 EIDL loan dollars should start to be disbursed Today or tomorrow.  Anyone wanting to know the status of their loan should call 1-800-659-2955 and be patient.  Money that they are approved for will be direct deposited into their account once it is approved.  If a borrower filed for EIDL under the original website or the upload portal, they must submit again on the new streamline website.  Those people are currently being contacted and they will NOT lose their place in line.  If someone asks you that they are not sure if they filled it out right because they did not upload anything, they probably did it right.  The new streamline EIDL program contains a self-certification system so there is nothing to upload.  Additional information is only requested if contacted by an SBA loan officer after submission."

Best.

Arnaldo

 

My lender won’t participate in PPP?

              Send them to www.sba.gov/paycheckprotection and have them put in their zip code, explain to them that new lenders are being added daily.  If they don’t find a lender they should all apply for the       EIDL loan and check for new lenders in their area as new lenders are being approved for the program daily.

 

FOR LENDERS ONLY…We now have a lender hotline.  The main reason for this hot line is for E-Tran (which is the way lenders input loans to SBA) and CAFS (Capital Access Financial Systems where lenders input their financial institutions information for SBA).  FOR LENDERS ONLY …That number is 1-833-572-0502.  This for lenders only!  Again try to answer their questions and direct them to the hotline. Did I mention this is FOR LENDERS ONLY?

Scroll To Top