Have attempted to reach individuals at biz2credit for a couple weeks via phone call at their 800 number and emails to the rep they assigned me. Biz2Credit is hosting informative webcasts to explain the financial options available to businesses affected by the ongoing crisis. Ready to fund The new PPP Flexibility Act becomes law expanding the programs usefulness to small businesses. will be 12% per annum on the unpaid balance thereafter until the loan balance is repaid in A take-home project (data cleaning + ML building) then presentation. Pennington, Bordering counties in Utah: Daggett, Rich, Summit. The letter described a number of errors that lenders have been facing with the SBA system that is responsible for receiving and processing loan decisions for PPP loan applications, both First Draw and Second Draw. Saline, Sangamon, Schuyler, Scott, Shelby, Stark, Stephenson, Tazewell, Union, Applications must be submitted by March 31st. Is the hotel industry next? We signed Loan Documents late in the day 2/12 and are waiting on funding now. Echols, Grady, Lowndes, Seminole, Thomas, Ware, Georgia counties including: Appling, Atkinson, Bacon, Baker, Baldwin, Banks, Atascosa, Austin, Bailey, Bandera, Bastrop, Baylor, Bee, Bell, Bexar, Blanco, Free Tools ; Leads by Industry ; Top Profiles . How do new rules under SBA to reduce fraud affect my loan application? Jefferson, Ohio, Perry, Posey, Spencer, Switzerland, Vanderburgh, Warrick, Bordering counties in Missouri: Mississippi, New Madrid, Bordering counties in Ohio: Adams, Brown, Clermont, Hamilton, Lawrence, Scioto, Bordering counties in Tennessee: Campbell, Claiborne, Clay, Henry, Lake, Macon, View Sam Parker's business profile as Funding Support at Biz2Credit Inc. Find contact's direct phone number, email address, work history, and more. loans are intended to bridge the gap between the time a major catastrophe hits and when a Because of the extreme hardship that small businesses are now facing during the Coronavirus (COVID-19) outbreak, business owners need help. Ponce, Quebradillas, Rincon, Rio Grande, Sabana Grande, Salinas, San German, San Since we started, Biz2Credit has been the best place for small businesses to get funding online. Laurens, Lee, Lexington, Marion, Marlboro, Mccormick, Newberry, Oconee, Orangeburg, Traverse, Wabasha, Wadena, Waseca, Washington, Watonwan, Wilkin, Winona, Wright, Morgan, Nicholas, Ohio, Pendleton, Pleasants, Pocahontas, Preston, Putnam, Raleigh, Please note that the process is different depending on whether your PPP application has already been accepted by the SBA or not. ET Monday through Friday. How long before I receive funds after the status had changed to "funded"? Online, Our SBA-Approved Custer, Delta, Denver, Dolores, Douglas, Eagle, El Paso, Elbert, Fremont, Garfield, There may be changes to this loan forgiveness process when it comes to second-draw loans. Hawk, Boone, Bremer, Buchanan, Buena Vista, Butler, Calhoun, Carroll, Cass, Cedar, I finally got through to a customer service rep with Biz2Credit at 212-644-4555. Humphreys, Jackson, Jefferson, Johnson, Knox, Lake, Lauderdale, Lawrence, Lewis, Your browser does not support the images displayed on this website. Apps. Colquitt, Columbia, Cook, Coweta, Crawford, Crisp, Dade, Dawson, Decatur, Dekalb, London, Tolland, Windham, Bordering counties in Massachusetts: Berkshire, Hampden, Worcester, Bordering counties in New York: Dutchess, Putnam, Westchester, Bordering counties in Rhode Island: Kent, Providence, Washington, Delaware counties including: Kent, New Castle, Sussex, Bordering counties in Maryland: Caroline, Cecil, Dorchester, Kent, Queen Annes, Mason, Mecosta, Menominee, Midland, Missaukee, Monroe, Montcalm, Montmorency, Wayne, Webster, Winnebago, Winneshiek, Woodbury, Worth, Wright, Bordering counties in Illinois: Carroll, Hancock, Henderson, Jo Daviess, Payroll, Time & Attendance, Benefits, Insurance, HR Services Support. As proof, you need to submit either a voided check or provide a signed letter from your bank on official bank letterhead to confirm your ACH information. We will send you an email notification, and your dashboard will update once more information is available from the SBA about your application. Biz2Credit is a reputable business with 4.5 out of 5 stars on Trustpilot and over 14,000 customer reviews. I just found out today that I had hold codes on my other business after 2 weeks of saying submitted to SBA!, Hey what are hold codes? When one of these errors occurs, you will generally see the message appear on your Biz2Credit dashboard, along with suggested next steps you can take to resolve the error. Provide customer support services; Conduct surveys and . Elk, Erie, Fayette, Forest, Franklin, Fulton, Greene, Huntingdon, Indiana, We were growing so fast, but we didn't have the working capital we needed. Clearwater, Custer, Elmore, Franklin, Fremont, Gem, Gooding, Idaho, Jefferson, Macon, Madison, Marengo, Marion, Marshall, Mobile, Monroe, Montgomery, Morgan, Keep calling until you get a ring and eventually you will get through to someone. This is because PPP loans, unlike most business loans, can be fully forgivable. Still working with SUMMITA on getting this approved. First Draw Sole Proprietors and Independant Contractors 2019 IRS Form 1040 Schedule C1 2020 invoice, bank statement or book of record showing business was operating as of 2/15/2020 Driver's License(s) or other Real ID document (front and back) Sole Proprietors with Employees 2019 IRS Form 1040 Schedule C 2020 IRS Form 941* for Quarter 1 OR Payroll statement covering 2/15/2020 2019 IRS Form 940* Driver's License(s) or other Real ID document(front and back) LLC (no employees) 2019 IRS Form 1040 Schedule C / 1065 / 1120(S) 2020 invoice, bank statement or book of record showing business was operating as of 2/15/2020 Driver's License(s) or other Real ID document (front and back) LLC (with employees), C-Copr, S-Corp, All Non-Partnerships 2019 IRS Form 940* IRS Form 941* (quarterly payroll tax form) - Latest Quarter 2019 business tax returns only for loans above $150k Driver's License(s) or other Real ID document (front and back) Non-Profit 2019 IRS Form 990* IRS Form 941 (quarterly payroll tax form) - Q1 2020 Proof for business activity - Latest Bank statements Driver's License(s) or other Real ID document (front and back) Farmers and Ranchers 2019 IRS Form 1040 Schedule F IRS Form 940 and IRS Form 943 (if applicable/have employees) Proof for business activity - 2020 Q1 Driver's License(s) or other Real ID document (front and back) Second Draw Annual Reduction: Annual IRS Income Tax Filings (required for annual reduction) Quarterly Reduction: Quarterly Financial Statements Quarterly or Monthly Bank Statements Accounting Software Summary Report Credit Card Receipts Sales Receipts. The Economic Aid Act states that a Second Draw PPP Loan may only be made to an eligible borrower that (i) has received a First Draw PPP Loan, and (ii) has used, or will use, the full amount of the First Draw PPP Loan on or before the expected date on which the Second Draw PPP Loan is disbursed to the borrower. Company Details. Money from this type of loan can be used for real estate purchases. Juan, San Lorenzo, San Sebastian, Santa Isabel, Toa Alta, Toa Baja, Trujillo Alto, Wilkinson, Winston, Yalobusha, Yazoo, Bordering counties in Alabama: Choctaw, Colbert, Franklin, Lamar, Lauderdale, Los Angeles: Information on loans ranging from $5,000 to $20,000 with 0-3% interest rates from the city's Small Business Emergency Microloan Program. Biz2Credit and our funding subsidiary fully support the SBA's efforts to reduce waste and abuse of the Paycheck Protection Program (PPP). Posted on September 19, 2022. Traill, Walsh, Bordering counties in South Dakota: Brookings, Deuel, Grant, Minnehaha, Moody, If you see your application listed as Not Accepted by SBA, please know that the SBA is expected to resolve this problem in the next several days. Rensselaer, Richmond, Rockland, Saint Lawrence, Saratoga, Schenectady, Schoharie, However, if you want to update your application, please reach out to the Biz2Credit help desk at support@biz2credit. Please contact support@biz2credit.com with any request for a change in bank account details that is required following signature on your loan agreement. Fleming, Floyd, Franklin, Fulton, Gallatin, Garrard, Grant, Graves, Grayson, Green, Dundy, Fillmore, Franklin, Frontier, Furnas, Gage, Garden, Garfield, Gosper, Grant, I interviewed at Biz2Credit. Golden Valley, Grand Forks, Grant, Griggs, Hettinger, Kidder, Lamoure, Logan, Cotton, Craig, Creek, Custer, Delaware, Dewey, Ellis, Garfield, Garvin, Grady, A lot of that is up to the discretion of the SBA Administrator who will announce guidelines in the new year. Greenwood, Hamilton, Harper, Harvey, Haskell, Hodgeman, Jackson, Jefferson, Jewell, Once that was complete on Saturday my application status was updated to 'loan agreement signed' and then 'funded.' There are two things to know about covered periods: The recent legislation extended the loan period to March 31, 2021. I'm Fed up, Something needs to be done NOW! Montezuma, Montrose, Morgan, Otero, Ouray, Park, Phillips, Pitkin, Prowers, Pueblo, Cumberland, De Witt, Dekalb, Douglas, Dupage, Edgar, Edwards, Effingham, Fayette, To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Stewart, Sullivan, Sumner, Tipton, Trousdale, Unicoi, Union, Van Buren, Warren, 1 Penn Plaza, 45th Floor, New York, NY 10119 800-200-5678 info@biz2credit.com www.biz2credit.com. However, if you want to update your application, please reach out to the Biz2Credit help desk at support@biz2credit. Get started with a PPP Loan Application by providing basic business information and using the Biz2Credit online platform to complete your application. We may also ask to see your driver's license or other identifying documents. So are you guys seeing it is taking 2 weeks to get released to your accounts? 1 Penn Plz Fl 31. Now, you can have that same power for your financial institution when you partner with Biz2Credit and choose Biz2X. Womply is not a lender, but we can help you access PPP stimulus . Saint Francis, Saline, Scott, Searcy, Sebastian, Sevier, Sharp, Stone, Union, Van Borrowers must use all proceeds from their First Draw PPP loan on eligible expenses before disbursement of a Second Draw PPP loan. Join 200,000+ subscribers to receive the latest updates from Biz2Credit. For those who qualify, first draw loans can range up to$10 million and second draw loans can range up to$2 million. Paychex Flex 800-741-6277. EDIT-UPDATE: Thank you so much for those who have provided additonal contacts. I filed the PPP app through them on 02/01/2021 and signed the 2483 forms a week later. Do you have funding options for start-up businesses? Lender Verifies After you have completed it, the completed application is submitted to the SBA, which will take no less than 48 hours to review the application. Southampton, Spotsylvania, Stafford, Staunton City, Suffolk City, Surry, Sussex, Jefferson, King, Kitsap, Kittitas, Klickitat, Lewis, Lincoln, Mason, Okanogan, Columbus, Craven, Cumberland, Currituck, Dare, Davidson, Davie, Duplin, Durham, leave; I would definitely recommend Biz2Credit to other people. Guadalupe, Hale, Hall, Hamilton, Hansford, Hardeman, Hardin, Harris, Harrison, Mar 12, 2020. Because of the extreme hardship that small businesses are now facing during the Coronavirus If you see an action item to add or upload documents on your dashboard, you may need to upload additional documents to support your PPP loan application. Jefferson, Leon, Madison, Nassau, Bordering counties in North Carolina: Cherokee, Clay, Jackson, Macon, Bordering counties in South Carolina: Abbeville, Aiken, Allendale, Anderson, It has been in this status for a while and we want to provide you an update so you understand how the process works and what the SBA is doing once they receive your application. Lawrence, Lewis, Lincoln, Linn, Livingston, Macon, Madison, Maries, Marion, Biz2Credit Inc 2023. Employees who may have been laid off or furloughed can be Federal Business tax returns for the last 2 completed years for all individual Interest Rate: Loans will be interest-free for the loan term (1 year). Marshall, Mason, Ohio, Pleasants, Tyler, Wayne, Wetzel, Wood, Oklahoma counties including: Adair, Alfalfa, Atoka, Beaver, Beckham, Blaine, Bryan, We're backed by Nexus Venture Partners and our 225,000 small business customers. What do I do if my bank has rejected the payment of my PPP loan? If it has been more than 7 business days since you have first contacted your funding specialist and your application has not advanced, please contact support@biz2credit. Coshocton, Crawford, Cuyahoga, Darke, Defiance, Delaware, Erie, Fairfield, Fayette, Applications for the Paycheck Protection Program are no longer open. Iroquois, Kankakee, Lawrence, Vermilion, Wabash, White, Will, Bordering counties in Kentucky: Boone, Breckinridge, Carroll, Daviess, You will have 10 days to complete this step. Your application has been submitted to Biz2Credit, it will be verified by your case manager, which will take at least 5 business days. Disclaimer: Information in the Knowledge Center is owned and managed by Biz2Credit and/or its editorial contributors, and does not necessarily represent the views of its funding partners. This after their state's Governor has requested an Economic Injury Disaster declaration. 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