![]() If your business’ code starts with 72, it’s 3.5 times your average monthly payroll. In addition to my standing application with BofA I also found a community bank locally that is preparing to submit our application. If you’re applying for a second round, you may be eligible for what’s called a second draw, which is whatever amount is lowest: 2 million or 2.5 times your average monthly cost for payroll during 2019, 2020,or the year before you took your PPP loan. ![]() ![]() I'm assuming that if I Docusign this, it doesn't mean I will get funded - it means Paypal/Webbank/Swiftcapital will submit it once the funding window on Round #2 opens. It also asks us to sign/initial the application form again. Towards the end of the document it includes what looks like an SBA note - but the loan # is blank. It has all of our info in there, although the amount is slightly lower than what we originally applied for. Yesterday, I got a Docusign from Paypal - titled US SBA PPP Loan Agreement. I put in an application at Paypal before PPP round #1 closed down, but got hung up on the LoanBuilder page and couldn't fully complete my submission. We originally applied via BofA and, like everyone, got shafted. Hoping someone who has been funded via Paypal PPP can give some advice. Location Specific Small Business Subreddit In the meantime, though, it’s important to know how you can keep tabs on your PPP loan status. Only time will tell if the program has improved in terms of the application process and the disbursement of funds. No Personal Attacks, Trolling, or Toxicity. Applications for this round of funding started the week of January 11, 2021, and will continue through March 31, 2021.You can promote your business in a relevant reply to a post or comment in other threads. Offers of free services under the pretense of 'building your portfolio' are considered business promotion, and not permitted in posts. Applications for second draw loans open on January 13, 2021, so it’s important to understand the program’s changes since the first round, as well as how to apply. Promote your business in the weekly Promote-your-business thread only. Practically all content, small business-related or not.Īllowed are links or quotes in comments and replies that are relevant to and come normally in the course of discussions. Note: You can post own experiences in the new weekly stickied or pinned share-your-experience thread.īlogspam has been defined very early in r/smallbusiness as content that maybe text articles, images, or video. NO business promotion, lead generation, rants, info-tainment, success stories or unsolicited instructional texts, treatise, or how-to's are permitted in posts. You ask a question about starting, owning, and growing a small business and the community answers. R/smallbusiness is a question and answer subreddit. Post only questions about small business.To get flair added to your username, message the moderators. This sub is not for advertisements! Questions and answers about starting, owning, and growing a small business. This is disappointing because (1) I think the law actually speaks to allowing contractors in your payroll costs calculations, and (2) many small businesses only. ![]()
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