![]() ![]() The easiest way to guarantee forgiveness for sole proprietors is to divide by 8 is under $15000 and send payment to yourself. Was reading to move money to an account somewhere else and only pull out so much weekly to pay yourself. Once you get to this point your funds are secured from what is left, I read from blueacorn post. They submitted it to SBA super quick and did sign up to verify this with SBA. Status updated to funding, but no messages last couple days. I also signed up for a free trial beforehand at docusign. I had to ask them for DocuSign papers after they were no show after 48 hours. I don't do anything else, but buy and sell. I have a schedule C that shows lots of money flowing through my account at least revenue based for multiple years, income not much as I keep buying increasing amounts of inventory. Congratulations! Please allow up to 10 business days for the funds to reach your account. We have reviewed your application and are pleased to inform you that your application is now in funded stage. Keeping in mind that I received this email on (Before CaWeb stated fully Cancelled) Once this is completed, your application will move to fund disbursed status and from there it will take 10 days for the funds to reach your account. We are kindly asking for your patience while our accounting department validates your bank details. Thank you for contacting us, unfortunately we do not have a time frame or an specific date as to when the funds will be in you account however your application is at the funding stage. Any recommendations on who to work with for my 2nd draw? Is there someone I can call/email (on the sbappp side) to find out if they cancelled the wrong Loan number? Sitting on hold with RC for 1 1/2 hours just to hear them read verbatim the last email sent to me gets old fast.and no one can clarify 10 business days vs 10 days.if I can finally get funded. This is becoming a super stressful, desperation, migraine inflicting waiting game. ![]() (Back rent and supplies) I’ve already put together everything needed for my 2nd draw. Hoping it happens quickly, with even quicker funding because that money is already spent. So I’m guessing I’m waiting on a new Etran# My Ready Capital status updated to “Validation Complete, Pending SBA Submission” I verified everything they asked me for literally 3 times. So had the Etran# been for Smartbiz these past 3 months and if so why the long wait for funding? The extent to which you are eligible for forgiveness depends on the forgiveness rules and regulations issued by the SBA.No and now I’m worried because I asked for Smartbiz to cancel my application, which they have. Per SBA rules, if you do not have formal business expenses that you report on your Schedule C, you will be limited to having 60% of your loan forgiven. Please note, the SBA has limited loan forgiveness for applicants who are self-employed. Requiring the disclosure of key individuals who own or control a legal entity (i.e., the beneficial owners) helps law enforcement investigate and prosecute these crimes. Legal entities can be abused to disguise involvement in terrorist financing, money laundering, tax evasion, corruption, fraud, and other financial crimes. To help the government fight financial crime, Federal regulation requires certain financial institutions to obtain, verify, and record in about the beneficial owners of legal entity customers at the time a new account is opened. If your business falls under NAICS code 72 (Accommodation and Food Services), you may qualify for up to 3.5x monthly payroll costs for a second draw. PPP borrowers are eligible for up to 2.5x monthly payroll costs for their initial PPP loan, as well as any second draw. Approval and loan forgiveness are subject to your ability to meet government-set eligibility requirements. There are no fees for applying for PPP or forgiveness. BlueAcorn does not guarantee that applications will be processed and submitted before PPP funds are no longer available. BlueAcorn may need additional information from you later and does not guarantee that it will be able to submit your application to the SBA based solely on the information you provide now. If funds are available, qualified applications will be submitted to the SBA. Funds are limited, and may not be available at this time. Loan agreements will identify the appropriate lender to small businesses at signing. Small Business Administration ("SBA”) lenders. ![]() PPP loans are made by one or more approved U.S. Interest rates for the Paycheck Protection Program ("PPP') are at 1%. By accepting this agreement, you acknowledge and consent to all compensation the “business” receives from Blueacorn for this referral. Customer understands that the “business” may receive compensation for referring you to Blueacorn. ![]()
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