Key requirements for all applicants:
You have an active Chase Business Checking account. Must have been in business as of February 15, 2020 and your business hasn’t been permanently closed. If applying as a franchise, you will need to enter the SBA Franchise Identifier Code at the time of application.
Herein, how do I find my Chase SBA PPP loan number?
The PPP First Draw SBA Loan Number is the number assigned to your approved PPP loan from 2020. Depending on your lender, it may be printed in the signed/approved loan documents you received when you got approval for your PPP loan.
In respect to this, how long does it take to process PPP application?
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.
Is Chase rejecting PPP loans?
We are now accepting Forgiveness requests for 2020 and 2021 PPP Loans.
Is PPP accepting new applications?
The Small Business Administration (SBA) has run out of funds and has stopped accepting new applications for Paycheck Protection Program (PPP) loans from most lenders. … In March 2021, the American Rescue Plan Act of 2021 (ARP) provided an additional $7.25 billion in funding for the PPP program.