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As we surpass $650 billion in PPP stimulus loans issued and are coming up on the current extended application deadline of May 31, 2021, a lot of small business owners, independent contractors, sole proprietors, and eligible self-employed individuals are worried that their PPP loan won’t get processed and approved before the program runs out ...
The Paycheck Protection Program (PPP) is no longer accepting applications. Womply is not involved with PPP forgiveness. Please contact your PPP lender for information on their forgiveness process. If your lender has opted-in you can apply via the SBA’s direct forgiveness portal. Womply is not a lender, but we can help you access PPP stimulus ...
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Step 1: Find your 2019 IRS Form 1040 Schedule C line 7 gross profit amount. If this amount is over $100,000, reduce it to $100,000. If this amount is zero or less, you are not eligible for a PPP loan. Step 2: Calculate the average monthly gross profit amount (divide the amount from Step 1 by 12).
- How do I check the status of my loan?Log in to check the status of your loan. See below for a list of definitions of possible loan statuses: ( To check the status of your PPP Non Fast...
- How fast will my PPP loan be funded after it’s been SBA Approved?Key points Most loans from Womply lenders are disbursed within 5 days of SBA approval. The lender average across tens of thousands of loans is curr...
- Why is my loan delayed?Please see our FAQ about understanding PPP loan delays
- What are the steps of PPP Fast Lane?1. You enter and submit your information + documents 2. Your information is under review 3. Your lender preps your SBA loan application 4. Your len...
- I would like to cancel my application. What do I do?Depending on the status of your application, you may still be able to cancel your application by logging into https://pppfastlane.womply.com/sign-...
- I applied through Fast Lane before the SBA changes went into effect. How can I get my application to reflect the new changes?We are unable to change previous applications. Please start a new application at womply.com/ppp and resubmit your application.
- What is the signing process for Fast Lane?After you have completed PPP Fast Lane, you will be required to review, initial, and sign your official SBA application form. This form will be sub...
- I failed the security questions on my DocuSign (or otherwise need another DocuSign), what do I do?If you failed the security question (or need to sign another DocuSign), Womply will resend unsigned DocuSign requests 2 times a day after the first...
- What should I do if I have not received email notifications to sign my DocuSign documents?One of the most common causes of this issue is email blocking, particularly if this if the first time you have ever been sent a DocuSign envelope....
1. The borrower. The business or person applying for a PPP loan (example: a self-employed person, an LLC with many employees, etc.) 2. The lender. The SBA-approved institution that receives applications, submits those applications to the SBA, and provides funds to the borrower (example: a bank or credit union) 3.
Login to “Update Application” as directed above and click the “Update Basic or Tax Info” button to fix your typo. CHECKLIST FOR UPLOADING YOUR GOVERNMENT ID. Select the correct type of ID you are uploading. All of the following are considered acceptable forms of ID: Drivers License. State ID. Passport. Passport Card.
Understanding PPP Loan Delays. Use of PPP Loan Funds. Forgiveness. PPP Loans for Minority, Underserved, Veteran and Women-Owned Businesses. Economic Injury and Disaster (EIDL) Other Questions. Womply’s PPP Network. Other Language Guides. Frequently asked questions and additional information about the Paycheck Protection Program (PPP).
Apr 2, 2020 · Apply through an approved PPP lender (Womply can help connect you with the best lender for you and your situation) . If you apply through a different lender than the one who facilitated your First Draw loan, you will need your PPP First Draw SBA Loan Number – this is a 10-digit number provided to you by your lender.
