Paycheck Protection Program
Great news! Additional funding has become available for the SBA Paycheck Protection Program (PPP), and we want to help you apply, so you’ll have the money you need to support your business during these challenging times. We are partnering with ACAP & The Loan Source to make PPP 2.0 simple.
Ensure your application is processed without delay by ACAP & The Loan Source
In order to steer clear of delays and SBA rejection due to clerical errors it is important that your PPP application is thorough and complete. Be sure to avoid these common mistakes when submitting your application:
A full list of required documentation can be found here. More than half of all borrowers who apply for the PPP are missing supporting documents that are important to moving the process along.
Common documents that borrowers tend to forget to include are:
- Health insurance support documentation
- Retirement plan support documentation
- Other eligible payroll supporting documents
If you have already submitted your application without this information, please make sure to gather these documents and have them ready, as a verifier will be reaching out to obtain this information from you.
Inconsistent Application Information:
To expedite the SBA’s acceptance of round 2 applications, please make sure to enter your second draw loan application information identically to how the first draw application was completed. This includes:
- EIN number format (with or without dash)
- Owner information
- Order of appearance
- SSN number format (with or without dash)
- Ownership percentages
Following these simple tips will expedite the process and shorten the timing to receive your funds.
Interested in Opening a Business Account?
Whatever your business goals, Jovia can help you maximize your potential. Contact us to learn more about how Jovia can help take your business to the next level.