Through its Paycheck Protection Program (PPP), the Small Business Administration (SBA) has been crucial in helping small businesses affected by the COVID-19 outbreak. It’s crucial to keep up with program updates and changes if you’ve applied for a PPP loan and want to know how your application is doing. Here is how to get in touch with the SBA regarding your PPP loan:
Visit the SBA website first: A plethora of details on the PPP loan program, including eligibility requirements, debt forgiveness policies, and frequently asked questions, are available on the SBA website. By login into your account and looking at your dashboard, you may also utilize the website to find out how your loan application is progressing.
2. Speak with your lender Your lender should be contacted first with any queries you may have regarding PPP loans. They can provide you updates on the progress of your application and give you advice on program requirements such as loan forgiveness. Throughout the loan process, be sure to stay in touch with your lender to learn about any updates or changes.
3. Call the SBA’s customer service line: You can call the SBA’s customer service line at 1-800-659-2955 if you have any queries or issues that your lender is unable to resolve. For questions regarding PPP loans, representatives are accessible Monday through Friday from 8 a.m. to 8 p.m. EST.
A marketplace for business loans called Lendio links lenders and small enterprises. Lendio does not provide franchises, but it does have a referral scheme for people and organizations who want to send potential borrowers to the platform. The program is free to use, and users are paid a commission for each successful recommendation.
Lendio does not sell franchises, as was already mentioned. However, you may read more about the program and register to take part on the Lendio website if you’re interested in being a referral partner.
Yes, Lendio is a PPP loan program participant and an SBA-approved lender. Lendio provides a range of different lending solutions for small enterprises, including lines of credit, term loans, and equipment finance, in addition to PPP loans.
Lendio will stop receiving PPP loan requests as of August 2021. But the business is still providing small businesses with other credit options, and should more PPP funds become available, it might take part. For the most recent information on available loan products and application procedures, be sure to visit the Lendio website or get in touch with their customer service department.