This round of PPP started on Jan 13, 2021 and lasts until Mar 31, 2021. BlueVine is now accepting applications for PPP.
Keeping this in consideration, does BlueVine do PPP loans?
BlueVine is an official direct non-bank lender for the government-backed SBA Paycheck Protection Program. … Get started with a fast and secure online PPP loan application.
In respect to this, is BlueVine banking legit?
It’s got a 4.5 (out of 5) on Trustpilot,1 and more than 3.55 stars (out of 5) on the Better Business Bureau’s site. Now, pretty much all of those reviews deal with BlueVine’s financing rather than its banking services.
What documents do I need for PPP?
If your business is any of the following:
|If you have employees|
|All businesses of this type should provide the following||Color copy of government issued ID (front and back) 2019 1040 Schedule C** 2019 IRS Form W-3 2019 IRS Form 940 W2s for any employees earning more than $100,000 Payroll statement covering 2/15/2020|
Lendio, the nation’s leading small business loan marketplace, announced it has opened its streamlined preliminary online application for small business owners to access the government funds set aside for additional Paycheck Protection Program (PPP) loans.
PPP Credit Checks
There does not appear to be any credit check required for PPP loans. That’s somewhat surprising because these loans technically fall under the SBA 7(a) loan program, which typically does require acceptable credit.
The SBA will continue to fund outstanding approved PPP applications from other lenders but won’t accept any new applicants. The exhaustion of funds, which was announced Tuesday, comes just weeks after the PPP was extended through the end of May to allow borrowers more time to apply for the forgivable loans.
around two weeks
8 Things You Can Do to Ensure Your PPP Application is Approved
- Determine the amount you are eligible for. …
- Calculate the amount that can be forgiven. …
- Determine eligible expenses you’ll cover with the PPP Loan. …
- Have your paperwork ready. …
- Work with a local bank if possible. …
- Apply through multiple lenders. …
- Check out one of the fintech companies that is processing PPP loans. …
- Follow up!
Who is eligible to apply for a self–employed PPP loan?
- Must be in operation before February 15, 2020.
- Must have income from self-employment, sole proprietorship, or as an independent contractor.
- Must live in the United States.
- Must file a Form 1040, Schedule C for 2019.
- Must have net profit for 2019.
The Bancorp Bank
How Long Does BlueVine Take to Deposit Money? BlueVine offers approvals in as little as five minutes, and funds can be available within a few hours of approval. You can choose free ACH transfer, and funds will usually arrive the next business day, but it can take up to three days.