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Square Community Moderator

PPP Update: Applications No Longer Available

Hi Seller Community, 

 

We recently sent out an email to let you all know that the SBA has notified us that PPP funding for new applicants is no longer available.  At this time, we are no longer able to accept new applications. 

 

We are doing our best to review the applications that have been submitted already. However,  there are no guarantees that your loan will be approved and funded by the SBA. We know this news is frustrating and we are committed to continue to help our sellers in these uncertain times. We will keep you updated via email on any new information or guidance we receive from the SBA and how it impacts an application you have already submitted. 

 

Let us know if you have any questions below.


Olivia
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are subject to the terms of the SBA Paycheck Protection Program. Square Capital, LLC is the servicer of your PPP loan and is a licensed servicer and debt collector with the following License Information

Message 1 of 30
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Square Community Moderator

Best Answer

Hey @Trinity_3,

 

Appreciate you taking the time to post! 

 

The PPP program has now ended, and we are unable to accept any applications at this time. For more information, please visit the SBA’s website.

 

Please contact us directly if you have any other questions.

Selena
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.
Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are subject to the terms of the SBA Paycheck Protection Program. Square Capital, LLC is the servicer of your PPP loan and is a licensed servicer and debt collector with the following License Information

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Message 15 of 30
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29 REPLIES 29

Ppp loan application 

Message 2 of 30
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What about the ppp 2nd loan applications that were submitted back in early March?  Are these even going to get funded? My application has been in SBA review since March 12, 2021.

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Square Community Moderator

Hi there @dmkilthau465 

 

Thanks for reaching out and letting us know about your current situation!

 

Your PPP loan application is currently in SBA review. Due to SBA review requirements, the PPP application review process can take much longer than the regular lending program through Square Capital. We will email you once we have an update on the decision for your application.

 

We understand the impact these funds could have for your business and appreciate your patience. Upon approval by the Small Business Administration, the loan will be deposited to your linked bank account within 10 calendar days.

 

I hope this helps but please get in touch with our team if you have any other questions. Thank you!


Olivia
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are subject to the terms of the SBA Paycheck Protection Program. Square Capital, LLC is the servicer of your PPP loan and is a licensed servicer and debt collector with the following License Information

Message 4 of 30
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I missed out I wish I would’ve caught it before 

Message 5 of 30
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HI, the Square Support page states funding has nearly run out.

 

https://squareup.com/us/en/capital/sba-ppp-loans

 

Hope This Helps!
TERRI
Message 6 of 30
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Is there a lending insitution that is still taking applications for a 2nd draw for the PPP?  If so, does anyone have a web address to the application form?

 

Thank You

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Beta Member

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Square Community Moderator

Hi @24681net 

 

Thanks for posting on our Seller Community page! 

 

Unfortunately, the PPP program has ended, so we are unable to accept any applications at this time. However, if the SBA re-opens the program, we will let you know! 


Olivia
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are subject to the terms of the SBA Paycheck Protection Program. Square Capital, LLC is the servicer of your PPP loan and is a licensed servicer and debt collector with the following License Information

Message 9 of 30
1,133 Views

Hi!

 

Let me first say thank you to the Square Capital Team. You've made this very challenging time and process simple and easy. I  was able to apply for and receive forgiveness of the first PPP loan with ease thanks to you.  I am now wondering if you are working on an application for round 2 forgiveness? 

 

Thank you in advance for your response

Lisa Loury Lomas

Message 10 of 30
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Square Community Moderator

Hey there @LisaListens 

 

Thank you for sharing your experience with Square Capital. I am happy to hear it has gone smoothly!  

 

We are working now on an easy application to apply for loan forgiveness and adjust your loan balance automatically. We’ll notify you by email and on your Square Dashboard when it’s ready. You don’t need to send us a completed application from the SBA website, or send us any documents just yet.

 

Keep checking our Support Center article for the latest information on loan forgiveness. Other requirements may apply depending on SBA forgiveness program guidelines.

 

Feel free to reach out to us directly if you have any additional questions! Thank you. 


Olivia
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are subject to the terms of the SBA Paycheck Protection Program. Square Capital, LLC is the servicer of your PPP loan and is a licensed servicer and debt collector with the following License Information

Message 11 of 30
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[redacted] I want to apply for the PPP since I have been very affected by the covid19
[redacted]

Message 12 of 30
908 Views
Square Community Moderator

Hi @tejada1248,

 

Sorry to hear about your situation. Unfortunately, the PPP program has now ended, and we are unable to accept any applications at this time. For more information, please visit the SBA’s website. 

 

Please contact us directly if you have any other questions.

Selena
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.
Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are subject to the terms of the SBA Paycheck Protection Program. Square Capital, LLC is the servicer of your PPP loan and is a licensed servicer and debt collector with the following License Information
Message 13 of 30
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How do I apply for a PPP loan is it too late? 

Message 14 of 30
1,126 Views
Square Community Moderator

Best Answer

Hey @Trinity_3,

 

Appreciate you taking the time to post! 

 

The PPP program has now ended, and we are unable to accept any applications at this time. For more information, please visit the SBA’s website.

 

Please contact us directly if you have any other questions.

Selena
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.
Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are subject to the terms of the SBA Paycheck Protection Program. Square Capital, LLC is the servicer of your PPP loan and is a licensed servicer and debt collector with the following License Information

View Best Answer >

Message 15 of 30
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Are there any new PPP Loans coming down the "Pipeline"?

Message 16 of 30
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I'd be surprised if they did a third round....

Message 17 of 30
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Yes I nedd tha hello for this loan please 

Message 18 of 30
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I never got the first round… am I eligible for that still

Message 19 of 30
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Hi @GPorterfield06 ,

                   We appreciate your interest in applying for the PPP loan through Square Capital. Unfortunately the SBA has notified us that PPP funding for new applicants is no longer available.  At this time, we are no longer able to accept new applications. Please feel free to contact us should you have any further questions.

 

Audrina Conrad
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.
Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are subject to the terms of the SBA Paycheck Protection Program. Square Capital, LLC is the servicer of your PPP loan and is a licensed servicer and debt collector with the following License Information
Message 20 of 30
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Can we still apply for a PPP loan

Message 21 of 30
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