Can they deny me after PPP already gave me a loan number and I signed the SBA promissory note? I need major help help as Ive read articles that Blue Acorn has been doing this and keeping the funds a d not returning them to the SBA leaving consumers on the hook for money they aren't able to get. I w already signed the note and was awarded my PPP I just haven't been funded yet. But then I get this email stating my PPP is denied. When successfully approved, funds are direct deposited into the agent’s bank account, straight from the SBA and Capital Plus Financial.Anyone had their PPP through Blue Acorn and sign, got approved, signed the promissory note and then have Blue Acorn email you stating that your PPP loan request is now denied? I did all this, and they said they had trouble direct depositing my funds and offered to give me a prepaid card but automatically populated the address on my driver's license which is not correct and I emailed (only contact for them I could find) to ask how I can update my address to the correct one so that I could get the card at the correct address and nobody would answer me back. Did you know that you can apply for forgiveness even if your loan has entered repayment Act now and apply for PPP loan forgiveness. Since the announcement last Wednesday, 90% of the real estate agents and mortgage loan officers that are 1099 independent contractors have qualified for between $5,000 and $20,833, even if their income did not decrease in 2020, the companies stated, highlighting the program’s simple underwriting terms: As long as the agent received a commission check in February 2019 as an independent contractor, did not draw any PPP loans in the first round of PPP and has a real estate license, they qualify.Īccording to the companies, once the application is submitted, the review time is about 5 – 7 business days. It is based upon qualified earnings as well as healthcare paid to employees. I received my PPP loan on a prepaid card. If you ever have questions about the authenticity of a request you can always reach out to our support team. If you upload using our platform your documents will go directly to BlueAcorn. The ERC is offered to both little and mid sized businesses. Yes, we email you from a secure platform to request documentation. How to cancel blue acorn PPP application. “There’s also a chance that the $128 billion could run out. Developed by the CARES Act, it is a refundable tax credit a give, not a loan that you can claim for your business. One digit was missing in routing number and support ticket was submitted SAME DAY 3.) never received a response to correct it 4.) was told by chat rep from Blue Acorn that all was good and just needed to fix routing number and to wait for email this was 6/23 and within 30 min of that chat was denied as well as 75k other people according. “Agents need to submit their applications immediately,” a joint statement from the companies urged. The program is set to expire on March 31, unless it is extended. Last week, the Biden Administration softened the requirements for PPP loans to include independent contractors, opening the opportunity to about 90% of the 1099 agents to qualify for the forgivable government PPP loan. In light of latest PPP guidelines, self-employed people and independent contractors now get the whole loan forgiven automatically. The second round of federal loan funding to small businesses included $250 billion, and of that, about $128 billion is currently still available.
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