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Peter0302
Level 2

Round 2?

Will we be able to apply for a second round loan that was passed by Congress yesterday through QuickBooks capital? Thanks!

Solved
Best answer January 10, 2021

Best Answers
storyarc
Level 1

Round 2?

When I go to my Capital page in QuickBooks Self-Employed it says that they will begin accepting applications for second draw loans from eligible businesses later this month (Jan).

View solution in original post

43 Comments
Rubielyn_J
QuickBooks Team

Round 2?

It's my pleasure to provide some information about applying for the loan passed by Congress, @Peter0302.

 

Since Congress just passed the bill yesterday, applying for the loan is still unavailable in QuickBooks Capital. We'll let you know if it's already implemented. 

 

For now, I suggest visiting our QuickBooks blog for any new release features and updates.

 

Meanwhile, I'll be adding this Community resource if you've got other QuickBooks concerns. You may check out this article for more details: Community help articles.

 

Let me know if you have other queries with QuickBooks. I'd be glad to help you. Keep safe always. 

Peter0302
Level 2

Round 2?

Heh, I know it wouldn't be available yet. :) But I just wanted to know if QB Capital would be issuing round 2 loans once they are available. It sounds like yes? Thanks!

Joesem M
QuickBooks Team

Round 2?

Thanks for getting back to us, @Peter0302.

 

At this time, we're unable to provide a specific ETA if the second round loan will be implemented in QuickBooks Capital. Rest assured, we will be providing more updates as they become available.

 

In the meantime, you can check out the blog site shared by my colleague to keep you in the loop with the latest features and improvements in the system.

 

Lastly, here's an article that you can read to help get everything set for Paycheck Protection Program (PPP) loan forgiveness.

 

If there's anything else that I can help you with, please don't hesitate to tag me below. I'll be more than happy to help you again.

Peter0302
Level 2

Round 2?

Ok sorry but I'm still confused by your answer.  I'm not asking for ETA.

 

I'm asking whether QB Capital will be doing round 2 loans. 

 

The possible answers are:

  (a) Yes

  (b) No

  (c) You don't know yet.

 

Thanks.

 

 

IamjuViel
QuickBooks Team

Round 2?

Hello, @Peter0302.

 

You can apply and reapply for a loan at any time in QuickBooks Capital. You just need to make sure that you're eligible to do so. However, there's no available update or information yet on whether you can apply for the newly-announced second round loan for the Paycheck Protection Program through QB Capital.

 

Rest assured, notifications will be sent once updates are available. I'd also recommend visiting the following pages so you'd be updated about the st information and releases:

Get back to us here if you have other questions and concerns. I'm always here to help.

Pacliff
Level 2

Round 2?

 

Will QB Capital be doing round 2 loans. 

 

The possible answers are:

  (a) Yes

  (b) No

  (c) You don't know yet.

 

Thanks.

designedlife
Level 1

Round 2?

lol they can't give a straight answer

coffeeyumyum
Level 1

Round 2?

Im sure that I am not the only one monitoring this thread for a reply.  Intuit family, what is your answer?

Peter0302
Level 2

Round 2?

The people monitoring these boards don't know, but they still fall over each other to try to answer to help their scores/quotas. Welcome to the modern world of customer service. 

 

As for QB Capital itself, very disappointing that they won't say. I got a first round loan from them. It's going to be very difficult to get a 2nd round loan from someone else.

jtayl123
Level 1

Round 2?

Disappointing. The answers might as well be automations!

 

I got a loan through Chase Bank on the first round, and the wait time was excruciating.

 

Another question, should they choose to accept it, would be whether or not Quickbooks Capitol will be slow or fast on the draw, comparatively.

storyarc
Level 1

Round 2?

When I go to my Capital page in QuickBooks Self-Employed it says that they will begin accepting applications for second draw loans from eligible businesses later this month (Jan).

View solution in original post

Peter0302
Level 2

Round 2?

Thank you @storyarc !

 

Confirmed the same message is up on my Quickbooks capital page:

 

https://c31.qbo.intuit.com/app/capital/ppp-center

Gymequip
Level 1

Round 2?

Hello everyone, 

Applications for forgiveness the 1st PPP loans have not yet started correct? Also would we be able to apply for a 2nd ppp loan with QB capital? Some other lenders have already started for the 2nd PPP and would it be better to do with QB or another and how would the forgiveness process go because it’s said you can combine to loan forgiveness application into one 

 

thank you

Pacliff
Level 2

Round 2?

Any new information on an ETA when we can apply for PPP second round

Kiala_S
QuickBooks Team

Round 2?

Good morning, @Pacliff! Hope your week is going well so far. :)

 

The best place to get the most up to date information on PPP loans is this site: https://quickbooks.intuit.com/small-business/coronavirus/paycheck-protection-program/.

 

You can also contact PPP support by going to the PPP Center area of your account and selecting Live Chat.

 

Let me know if you have any questions accessing these sites. All of us here in the Community are eager to help!

Pacliff
Level 2

Round 2?

the page you gave me says nothing about the second PPP, if it did I wouldn't be asking the question here. why can't we get a straight answer?  I'll give you an example of proper answers

 

--We don't have an ETA as of now

--- We don't have an ETA as of now but we are working on implementing the second draw.--

--- We are working on implementing the second draw and will be available by Febuary--

 

There are 3 examples.

 

Now for my question.    Do you have an ETA on when we can apply for the second draw?? I'm about to go somewhere else.

 

 

Thank you

 

 

Candice C
QuickBooks Team

Round 2?

Hey, @Pacliff

 

Thanks for reaching back out to the Community and adding some clarification. This isn't the impression I want to leave you with. Allow me to provide you with some information about the PPP second draw. 

 

I can see how beneficial this option/feature being added quickly would be great for your business. However, we're currently reviewing the information in the new bill and are working on implementing the updates to the Paycheck Protection Program for 2021. This article about the PPP will be updated once we finalize our research on the new bill. 

 

You can always check out our QuickBooks Blog to keep up with what's new in the system. 

 

I hope these details give you a better understanding of the second draw to the PPP. Let me know if there's anything else I can help you with. I value you and the success of your business. I'm always here to lend a helping hand. Have a great day! 

Pacliff
Level 2

Round 2?

LOL I still didn't quite get an answer as to an ETA. Half of my question was answered

Just_me
Level 8

Round 2?

@Pacliff   I'm sorry, but this thread is quite comical.  It's SO frustrating, when you ask a specific question, over and over, and still don't get an answer.  I love that you are even providing them simple answers to give, but they just don't get it.  

 

Good luck!

Pacliff
Level 2

Round 2?

I see you updated PPP website unless I'm looking over it there is nothing there for me to apply as well as it does not show an option to apply for second round QB Desktop 18

cheesebrew
Level 2

Round 2?

I would just like to know if I should apply elsewhere.  I would love to stick with QB, but I also don't want to miss out on the opportunity.  

McNeese72
Level 1

Round 2?

There is more info here.   Essentially says that an application is coming for those who applied through Quickbooks (with Cross River Bank) for the first PPP.   Also, those who aren't eligible to apply through Quickbooks can apply directly with Cross River Bank.

 

https://quickbooks.intuit.com/blog/news/quickbooks-capital-teams-up-with-cross-river-bank-to-provide... 

Fiat Lux - ASIA
Level 15

Round 2?

@McNeese72 @Peter0302 @cheesebrew @Pacliff 

Check your email. Some of our clients (QBD Enterprise users) got an email by today

 

PPP.jpg

 

Another option, you may try another channel to apply.

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

 

Good luck!

McNeese72
Level 1

Round 2?

No email for me, yet.   I am patiently waiting.

 

 DDS

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