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Level 1

No PPP update on loan

I applied online for a PPP loan through QB almost a month ago  --I check every day and it says no new info--no information at all---I see a lot of folks have cancelled their QB PP loan and got one through there local banks --should I do that

 

Has anyone gotten a loan from QB ?  Why does it take so long and why dont we have 

Solved
Best answer May 04, 2020

Best Answers
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QuickBooks Team

No PPP update on loan

Hello, Tonakf. 

 

Thanks for coming to the Community. I understand how frustrating it must be to operate under Covid-19. Rest assured, we got your back. At this time, your best course of action if you already applied for the loan would be to keep an eye on your email as that's where you'll get an update to the status of your loan.

 

If you have any other questions feel free to post them below. 

 

Thank you and have a nice Monday. 

View solution in original post

7 Comments
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Level 2

No PPP update on loan

I have the same concerns and questions. Why can QBs not give any updates or information? I really need to know how I can find out if my application was submitted to the sba and what is the typical length of time before people are hearing back after submitting. I'm very concerned my application was not ever processed.

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Level 13

No PPP update on loan

For the time being, consider to apply to other channel as a backup plan. Once one of the applications is approved, you may ask the other channel to cancel it.

https:// veem.grsm.io/sba-ppp

 

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Level 1

No PPP update on loan

We were supposedly approved so another bank wouldn't give us a loan but we have yet to hear anything from qb. I hope they dont screw us out of getting a loan now!

Highlighted
QuickBooks Team

No PPP update on loan

Hello, Tonakf. 

 

Thanks for coming to the Community. I understand how frustrating it must be to operate under Covid-19. Rest assured, we got your back. At this time, your best course of action if you already applied for the loan would be to keep an eye on your email as that's where you'll get an update to the status of your loan.

 

If you have any other questions feel free to post them below. 

 

Thank you and have a nice Monday. 

View solution in original post

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Level 1

No PPP update on loan

How long does that take?  We applied over 10 days ago and no updates at all.

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Level 1

No PPP update on loan

I had a client apply about three weeks ago.  The very next day they had an email for electronic signatures and then in three days had the money in their bank.

 

I now have another client who applied 10 days ago and had a request for additional information which we sent immediately and now cannot get any updates.  What is the problem?

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Level 7

No PPP update on loan

@Capital123    Watch your SPAM folder, as well.  There was another thread that I just read that said the email regarding PPP loan was sent to the SPAM folder. By the time they found it, the loan had been cancelled and now they are struggling to get it back, or approved again. SBA is showing that they were already approved and showing nothing about the cancellation, due to no response. 

 

Good luck. 

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