Yes, you can reapply for a PPP loan. First, find out why your original application was denied. If it’s a fixable issue, correct the problem and reapply through a different lender.

How long does SBA PPP loan approval take?

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.

How to get a PPP loan from SBA?

SBA is currently offering PPP loans until May 31, 2021. President Biden announced program changes to make access to PPP loans more equitable. 1. Find a lender: Get matched with a lender; Search for lenders in your area; 2. Identify a loan: First Draw PPP loans: If you have not received a PPP loan before, First Draw PPP loans are available to you.

When do PPP loans for small businesses start?

Community financial institutions began making PPP Loans on Jan. 11, 2021. The start date for small lenders with less than $1 billion in assets was set for Jan. 15, 2021 and PPP loans from all SBA-approved lenders were authorized to begin on Jan. 19, 2021. 1 

Which is the correct form for PPP loan forgiveness?

Contact your PPP lender and complete the correct form: Your lender can provide you with either the SBA Form 3508, SBA Form 3508EZ, SBA Form 3508S, or a lender equivalent. The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements.

Who is eligible for SBA PPP loan Santa Cruz County?

You are receiving this notice because you recently applied for a Small Business Administration (SBA) PPP loan with Santa Cruz County Bank as a Sole Proprietor, Independent Contractor, and/or Self-Employed Individual. On March 3, the SBA issued new rules that may affect your eligibility for the program.