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The Paycheck Protection Program (PPP) is no longer accepting applications. PPP FAST LANE LOGIN. 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.
- Details on The SBA’s New “PPP Direct Forgiveness Portal”
- How Does The New SBA PPP Direct Forgiveness Portal / Platform Work?
- How Do I Know If My Lender Has Opted-In to The Direct PPP Forgiveness Platform?
- What Is A Covid Revenue Reduction Score and Does It Apply to My PPP Loan?
- New: Deferment Extension For SBA Oha PPP Forgiveness Appeals
First, the big news (for most PPP borrowers). The SBA has established an online PPP forgiveness platform called the SBA PPP Direct Forgiveness Portal. If your PPP loan was for $150,000 or less, AND if your lender has opted-in to the use of the platform, you will be able to submit your PPP loan forgiveness application online directly to the SBA, usi...
If your lender has opted-in to allow you to submit your PPP forgiveness application via the platform, and you have not already submitted a PPP forgiveness application via your lender, you will be given credentials to log in to the SBA PPP Direct Forgiveness Portaland submit your electronic PPP loan forgiveness application directly. Upon receipt of ...
You can check to see if your lender has opted in to the SBA’s direct forgiveness platform by checking the SBA’s list of participating direct forgiveness lenders. Please note:if you have already submitted a PPP loan forgiveness application to your lender, they will continue to process them as before. Do NOT submit a duplicate PPP loan forgiveness ap...
Please note: the COVID Revenue Reduction Score is used by your lender (as an option), and this portion of this interim final rule only applies to your loan if: 1. You received a second draw PPP loan of $150,000 or less, and 2. Your lender has not yet issued a loan forgiveness decision to the SBA, and 3. You either didn’t submit documentation suppor...
Please note: This revision applies to you only if you have applied for PPP forgiveness and the SBA has rejected your request for forgiveness in whole or in part. Prior to this new IFA/rule, if you appealed the SBA’s decision to the Office of Hearings and Appeals, you may have still needed to begin making principal and interest payments on your loan...
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How do I apply for a PPP loan?
If you applied for your PPP loan via Womply, you can check loan application status at https://www.womply.com/ppp-status/. If you did not apply through Womply , you will need to contact your SBA-approved lender and request a status update.
The SBA has established an online PPP forgiveness platform called the SBA PPP Direct Forgiveness Portal. If your PPP loan was for $150,000 or less, AND if your lender has opted-in to the use of the platform, you will be able to submit your PPP loan forgiveness application online directly to the SBA, using the electronic equivalent of SBA Form ...
- Will Womply apply for PPP forgiveness for me?Womply is not involved with PPP forgiveness. Please contact your PPP lender for information on their forgiveness process. If your lender has opted-...
- Do I need my SBA loan number to apply for PPP forgiveness?No, if your loan was for $150K or less and your lender has opted in to the SBA’s direct forgiveness portal . As you enter the system and start a n...
- What are the conditions that I need to maintain to receive PPP loan forgiveness?In order to receive full loan forgiveness, you must use at least 60% of your loan to cover payroll costs for employees (this includes compensation...
- What if I couldn’t keep my employees, they quit, or refused to be rehired? Can I still qualify for loan forgiveness?There are certain exceptions to the “maintaining employees levels and compensation” rule. If you received a PPP loan of $50,000 or less If you rece...
- I got my First Draw PPP Loan after December 27, 2020, do I still need to restore payroll or headcount to previous levels in order to receive forgiveness?No. PPP Loans received after December 27th, 2020 are not required to “rehire” any employees in order to receive forgiveness. You will, however, n...
- What are the approved expenses to achieve full PPP loan forgiveness?The PPP loan program was designed to provide forgivable loans in order to encourage businesses to maintain payroll and stay open. However, you may...
- What counts as payroll costs for PPP loan forgiveness?In order to receive full loan forgiveness, at least 60% of your loan must be used towards payroll costs. The Treasury Department outlines payroll...
- What if I don’t use 60% of my PPP loan on payroll expenses? Can I still qualify for loan forgiveness?If you don’t spend at least 60% of your loan on approved payroll costs, you can still qualify for partial loan forgiveness. But you will be ineli...
- How do I verify to my lender and the SBA that I spent my PPP loan on approved expenses? What documentation do I need?You will need comprehensive documentation to accompany your loan forgiveness application in order to verify that you spent your loan on approved ex...
The SBA has established an online PPP forgiveness platform called the SBA PPP Direct Forgiveness Portal. If your PPP loan was for $150,000 or less, AND if your lender has opted-in to the use of the platform , you will be able to submit your PPP loan forgiveness application online directly to the SBA, using the electronic equivalent of SBA Form ...
PPP FAST LANE LOGIN. 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. Already have an application through PPP Fast Lane? Login here. Paycheck Protection Program (PPP) Loan Facts.
To access your PPP Fast Lane application, log in again. LOGIN. PPP Fast Lane helps 1099’s, sole proprietors, and self-employed people access the Paycheck Protection Program (PPP). In 5 minutes, PPP Fast Lane will help you prepare your applications and connect you with an SBA-approved lender.
