During the COVID-19 epidemic, the Paycheck Protection Program (PPP) was created to offer small businesses financial support. PPP loans are intended to assist firms in keeping up with wages and paying for necessary costs like rent and electricity. The initial PPP funding round, however, was swiftly used up, leaving many business owners concerned about their financial fate. Thanks to the approval of a second round of PPP funding in late December 2020, companies can now apply for these loans through a number of different banks.
Which banks are now taking applications for PPP loans? The application is being used by a large number of banks, is the answer. Some of the most well-known people are: Bank of America, Chase, Wells Fargo, Citibank, US Bank, PNC Bank, and TD Bank are just a few of the financial institutions that offer their services. Although not all banks are now accepting PPP loan applications, these are some of them. Numerous smaller, neighborhood-based banks are also taking part in the scheme. Businesses who already do business with these institutions may find them to be a good option.
An online lender named BlueVine has been given permission to take part in the PPP initiative. Businesses in need of rapid cash may find them interesting because they provide a simple application process and prompt payment. It’s crucial to remember, too, that not all firms will benefit from using BlueVine. When dealing with something as crucial as PPP finance, several borrowers have complained about issues with the lender’s customer service and communication. Each business owner must ultimately determine which loan best suits their needs. What Is the PPP Loan Forgiveness Deadline?
PPP loan forgiveness must be completed by March 31, 2021, at the latest. This indicates that companies have until this date to submit requests for the cancellation of any PPP loans they received during the initial fundraising round. Businesses should ask for forgiveness as soon as they can because the procedure can take weeks or even months to complete.
The Chase Sapphire card is a well-known travel rewards credit card that comes with a number of benefits, such as extra points for spending money on travel and eating, travel insurance, and access to airport lounges. The value of the card, however, may vary depending on each person’s purchasing patterns and preferred modes of transportation. The features of the card can make the yearly cost worthwhile if you travel and eat out frequently. However, there might be better credit card options if you don’t travel much or want a cashback benefits program.
A high-end travel rewards credit card, the Platinum AMEX card provides a number of opulent benefits like access to airport lounges, concierge services, and statement credits for travel costs. However, just like the Chase Sapphire card, the value of the Platinum AMEX card depends on the spending patterns and travel interests of each individual. Because there is a sizable annual charge associated with the card, it’s crucial to carefully examine whether the advantages justify the expense.
Although this article focuses on PPP applications, you can contact Chase to seek an increase in your credit limit by connecting into your account online, choosing the credit card you wish to change the limit on, and hitting the “Request Credit Line Increase” button. It’s possible that you’ll be asked for some financial data to back up your request. As an alternative, you can telephone the customer service number on the back of your card and ask for an increase in your credit limit.
Chase Bank does provide personal loans to qualified individuals. However, the article’s main focus is on PPP (Paycheck Protection Program) loan applications, which are small business loans created to aid small businesses afflicted by the COVID-19 pandemic financially.