Especially when some claim that it's fraud for any independent contractor to even get the loan. In the email they stated they have received requests and subpoenas “from law enforcement, including the FBI, SBA, DOJ, and other agencies.” They also said they've noticed a big increase in fraudulent documentation.įraud's a scary thing to be accused of. Recently, Womply sent out an email to many borrowers and loan applicants on April 30 to respond to the problem.
Once submitted to the SBA, they have up to 90 days to decision your forgiveness application, but we typically receive feedback within 30 days of submission.It seems like PPP loan fraud is blowing up lately. From the time a complete forgiveness package is received, our team is processing and submitting the applications to the SBA within 2-3 business days, in most cases.
We have increased our team of dedicated processors to help expedite the process. How long with the forgiveness process take? Please refer to the list of documents that each borrower must submit with its PPP Loan Forgiveness Application starting on page 8 of the 3508EZ and page 12 of the 3508. No other supporting documents need to be uploaded, but you are required to retain all employment records/payroll documents in its file for four (4) years and all other documentation for three (3) years after the date the loan forgiveness application is submitted to the Lender.įor Borrowers with loans greater than $150,000 Only the completed, executed Form 3508S is required. *Please note, each application contains a list of supporting docs within the instructions, that must be retained and/or required to submit with your application.įor Borrowers with loans of $150,000 or less Form 3508 (for loans not eligible for the 3508S/3508EZ) - (DOWNLOAD).Form 3508EZ (must be able to answer affirmative to one of the two questions on pg 5 to be eligible) - (DOWNLOAD).Form 3508S (for loan amounts of $150,000 or less) - (DOWNLOAD).In order to service everyone in an efficient manner, we respectfully ask that only forgiveness requests be sent to For general PPP information and questions, please email Forgiveness Applications and Instructions IMPORTANT - Please be sure to notify your processor once you’ve successfully submitted your online application. The processor that provides you with your link will also be your primary contact throughout the forgiveness process. Once received, one of our processors will send you a link to begin the online portion, where you will be able to upload your completed SBA forgiveness application and any required supporting documents.
Once you have completed the appropriate forgiveness application, please send an email request to using the SUBJECT “Forgiveness Request” along with your SBA loan name and SBA loan number in the subject line of the email. The process below is also for all Harvest Borrowers with a loan amount greater than $150,000 The SBA Borrower Direct Forgiveness Platform is now available to all borrowers with loan a amount of $150,000 or less, but you may also apply directly with us by following the instructions below. ***The Direct Forgiveness Knowledge Base resource is also available using this LINK for updated FAQ related to direct forgiveness
**Please refer to the PPP Direct Forgiveness Platform User Guide for step-by-step details (DOWNLOAD) *The Lender Loan Number is the same as your SBA Loan Number The SBA Borrower Direct Forgiveness Platform is now available to apply for forgivenessġ) The PPP Direct Forgiveness Portal can be accessed at (MS Edge or Google Chrome are the recommended browsers for optimal experience)Ģ) Click “Register to Start Your Application” and follow the instructionsģ) Once registered, use your newly created credentials and SMS two-factor authentication to access the portalĤ) Once logged in, select “Start New Forgiveness Request,” enter the TIN (SSN or EIN) used to apply for the loan and your SBA loan numberĥ) Follow the prompts to complete all the required fieldsĦ) Once finished, the system will generate a completed 3508S application via DocuSign for you to execute and submit into the lender queue
0 kommentar(er)
