Can I find out who got PPP loans?

If you’re looking to check who’s received EIDL grants, EIDL loans, or PPP loans, the SBA has made recipient data publicly available.

Will PPP loans under $150 K be forgiven?

WASHINGTON – The U.S. Small Business Administration (SBA) is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans $150,000 or less through participating lenders to apply for forgiveness directly through the SBA.

How do I know if my PPP loan is approved?

If you applied for your PPP loan via Womply, you can check loan application status at https://www.womply.com/ppp-status/. If you did not apply through Womply, you will need to contact your SBA-approved lender and request a status update.

Who got money from the PPP?

Roughly 25% of PPP loan funds went directly to workers who would have lost their jobs. The rest (75%) went to business owners, shareholders, creditors, and suppliers of companies receiving loans.

Can you go to jail for PPP?

Depending on the size of the PPP loan, this can result in a $5,000,000 fine and up to 10 years in prison. 18 U.S.C. § 1343: Wire Fraud. This can result in fines and up to 20 years in prison.

What documents are needed for PPP forgiveness under 150K?

Simplified PPP Forgiveness Application for PPP Loans Under $150K

  • Basic information about the business (name, address, NAICS code, EIN, phone, etc.)
  • Information about the original PPP loan (SBA loan number, loan amount, loan disbursement date)

How long does it take to get PPP approved?

From start to finish, the process typically takes about two weeks, although some borrowers are receiving funds quicker than that. As long as you stay involved in the process, keep in touch with your lender, and understand how the PPP loan process works, you should be seeing your money in no time at all.

Why is my PPP loan taking so long?

A common issue causing PPP loan approval delays is providing incorrect information on your application, such as: Mismatched or incorrect business info (addresses don’t match, etc.) Incorrect tax ID (Social Security Number, EIN)

Will PPP loans be audited?

Your PPP loan may be audited to ensure funds were used for their intended purpose. All loans over $2 million will be fully audited, while spot checks will be performed on smaller loans.