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.
Furthermore, are PPP payments public record?
Under open government transparency guidelines, information on recipients of the $799B in forgivable government loans issued through the 2020 Paycheck Protection Program by the US Small Business Administration (SBA) are a matter of public record.
One may also ask, can I check SBA loan status?
How to check account status for existing SBA loan borrowers. Existing borrowers can use SBA Capital Access Financial System (CAFS) (caweb.sba.gov) to monitor the status of the following loan types: Paycheck Protection Program (PPP)
Can I track my SBA PPP loan?
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.
Depending on the circumstances, the federal government might charge people accused of defrauding the PPP under the following provisions: 15 U.S.C. § 645: Making a false statement to the SBA. This can result in a fine of up to $5,000 and up to 2 years in prison.
After you submitted your PPP Loan request with SBA.com®, you should have completed your application with our partner through their application portal. You should have received an email from our partner with your account details to access the application portal and check your application status.
How to Check your Personal Loan Status Through Customer Service. The customer service department of the lender can also help you track the status of your loan application. You may either call or email the customer service department to track the status of your loan.
Keep an electronic copy of your bank statement and agree the amounts from payroll reports, invoices, etc., to the entries on the statement. In some cases, you may want to use Federal Form 940 or 941 and summarize the portion of the amount on the form that was actually paid during the eight-week period.
How can you keep track of all of your PPP loan expenses?
- Create a plan.
- Consider opening a separate bank account for your PPP funds.
- Keep complete, accurate records for PPP forgiveness.
- Create a general ledger account for PPP funds.
- Create a PPP forgiveness tracking spreadsheet.
If you have all your documentation in place, your approval can take as little as a day or two, depending on your lender. Once your loan is approved, estimates are that it should take approximately 5-7 business days for your funds to become available.
What is my loan number? Your loan number might be on a statement or letter from the SBA. It is NOT your application number. If you do not have a letter or statement, please contact your Service Center or the main SBA help desk at 800-659-2955 if you do not know your Service Center.
A delay in PPP loan processing and approval can be traced back to strong demand and the struggle for banks and third-party processors to keep up.