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When Will My Paycheck Protection Program (PPP) Loan Be Funded?

    Shelbi Wescott
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Shelbi Wescott

Shelbi Wescott

Managing Editor at Merchant Maverick
Managing Editor Shelbi Wescott has been researching and comparing small business payroll and accounting software since 2019. An accomplished author in both the science-fiction and mystery genres, she received an Honorable Mention for Best YA Mystery from the Library Journal for her novel After Life. Shelbi has a BA in English Literature and a Masters in Teaching from Lewis and Clark College.
Shelbi Wescott
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    Samella Holmes

    Been in approval stage since May..just got PPP loan # now what do I do

      Jessica Dinsmore

      Hi Samella,

      The timeline to get approved for a PPP loan varies by lender. Once you’re approved, the SBA requires lenders to disburse funds within 10 calendar days (longer if the lender requests additional documentation). Some borrowers report frozen accounts or holds that delay their processing. The best way to avoid a hold is to make sure you’ve provided all the documentation your lender might need. Best of luck!

        Cody brooks

        I received my sba # funds went to bank but didn’t get deposited they instead got returned. Blue acorn didn’t even try notifying me of the situation. I literally found out by contacting everyone available to find out info. I was told by blueacorn that my loan wouldn’t be approved and there was no reversal on decision so I reached out to the lender prestamos CDFI and they finally got back to me stating the documents weren’t correct so i then reverified and sent the correct forms to their underwriting since Linda asked if I’d like to persue the loan still to send the documents . Only took a day or so and just received an email back saying they were sending the funds back to the sba. Online in the forgiveness portal , cawebs it shows that my funds have been disbursed since may 2021 but I have yet to receive anything in fact I’ve been steered in the direction by blue acorn and prestamos that I’m not approved all with nobody to reach out to that gives a dang to help individuals like myself in these situations.

          Erica Seppala

          Hi Cody!

          I am sorry to hear about the problems you’ve faced when trying to obtain a PPP loan. Per the SBA, “Borrowers who have had their application submitted to SBA by their lender can create an account in the SBA Capital Access Financial System (CAFS) to monitor their loan status. If you are unsure about your PPP loan status, or if your PPP loan application has been flagged due to data anomalies, please contact your lender to get more information.” Since you are seeing something different in the CAFS than what your lender is telling you, I would continue to reach out to Prestamos CDFI to answer specific questions about your loan status. Good luck!

            Amanda B Aucoin

            Well I’m not the only one wow I have the same exact issue with my loan right now . I’m unsure of what to do next but its ridiculous. Blueaccorn never allows you to speak to anyone and Prestamo website isnt helpful either . I’m praying someone is willing to help you and I both in getting fundes

              Melissa Estores

              My sba ppp loan was approved, assigned sba loan number, completed DocuSign on May 14, 2021. Yet not funded. My bank said no deposit was attempted and they are more than capable of receiving my loan. Blueacorn said my bank declined deposit. My lender said blueacorn withdrew my application after deposit failed. My name show on the list of sba loans that have already been disbursed. My lender is not responding anymore. What can I do?

                Erica Seppala

                Hi Melissa,

                I am sorry to hear about the issues you have faced with the PPP loan program. I would encourage you to continue to reach out to the lender in order to receive a resolution. I would research all methods of contacting the lender — from phone and live chat to even sending a private message through social media, if applicable. I would also reach out to Blueacorn to see what they can do to assist you in contacting the lender. If you continue to come up empty-handed, I would reach out to an SBA District Office near you to see if they can offer some advice or assistance. Good luck!

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