I wanted to update my experience with the PPP loan application process. Applied for ppp loan on 4/10. Received no info until day before funds were to be exhausted. Needed to verify my bank account from desktop computer?????? Completed online verification. Received request for missing 940 form on 4/24 which was not avail when I first applied earlier in the month. Quarter had just ended. Uploaded required doc.4/24 received urgent request to confirm docs were ready uploaded for review. Confirmed online. 4/29 received notification my ppp app was complete and ready for submission to SBA.
5/1 received notification I am one step away from receiving funds. This was the promissory note. This is in your personal/business online banking. I would check both to make sure. This is why alot people are having trouble because BofA does not tell you to log into your business account separately if you have joint accounts. You should have to different access ids/passwords for each account. Signed promissory note. 3 hours later received a notification I was approved for the ppp loan and I would receive the loan in 1-2 business days. Hope this info is helpful. I will update when I receive funds.
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