The extent to which you are eligible for forgiveness depends on the forgiveness rules and regulations issued by the SBA. Per SBA rules, if you do not have formal business expenses that you report on your Schedule C, you will be limited to having 60% of your loan forgiven. Please note, the SBA has limited loan forgiveness for applicants who are self-employed. Requiring the disclosure of key individuals who own or control a legal entity (i.e., the beneficial owners) helps law enforcement investigate and prosecute these crimes. Legal entities can be abused to disguise involvement in terrorist financing, money laundering, tax evasion, corruption, fraud, and other financial crimes. To help the government fight financial crime, Federal regulation requires certain financial institutions to obtain, verify, and record in about the beneficial owners of legal entity customers at the time a new account is opened. If your business falls under NAICS code 72 (Accommodation and Food Services), you may qualify for up to 3.5x monthly payroll costs for a second draw. PPP borrowers are eligible for up to 2.5x monthly payroll costs for their initial PPP loan, as well as any second draw. Approval and loan forgiveness are subject to your ability to meet government-set eligibility requirements. There are no fees for applying for PPP or forgiveness. There are no fees for applying for PPP or forgiveness. BlueAcorn does not guarantee that applications will be processed and submitted before PPP funds are no longer available. Blueacorn’s Role in PPP The Payment Protection Program (PPP) was a COVID-19 relief mechanism created in March 2020 by the US government as part of the CARES Act in an effort to protect small businesses and their employees from government-mandated shutdowns and the effects of social distancing measures. The first company of its kind to pioneer what’s possible through the convergence of analytics, digital commerce, customer experience, and Experience Driven Commerce (XDC) services. BlueAcorn does not guarantee that applications will be processed and submitted before PPP funds are no longer available. Blue Acorn iCi is a leading digital customer experience company that solves problems and delivers results. BlueAcorn may need additional information from you later and does not guarantee that it will be able to submit your application to the SBA based solely on the information you provide now. Prospective applicants can access the loan portal at. If funds are available, qualified applications will be submitted to the SBA. In collaboration with FinTech platform Blueacorn, CPF has developed an easy-to-use application wizard that automatically completes and submits all necessary documentation directly to the lender. Funds are limited, and may not be available at this time. Loan agreements will identify the appropriate lender to small businesses at signing. Small Business Administration ("SBA”) lenders. PPP loans are made by one or more approved U.S. Interest rates for the Paycheck Protection Program ("PPP') are at 1%. By accepting this agreement, you acknowledge and consent to all compensation the “business” receives from Blueacorn for this referral. I will be filing a complaint with the U.S Treasury and the Attorney General of the state to get answers.Customer understands that the “business” may receive compensation for referring you to Blueacorn. Further harming consumers like this during a national crisis is unjustifiable. Our PPP Forgiveness Portal is Now Open for All Borrowers If you applied for your PPP loan through Blueacorn, we are proud to announce that you are now able to apply for forgiveness through our new portal You will need to create a new login, and have your SBA Loan number and SSN / EIN ready. I can see so many people are going through the same thing with this company. This company procedures and policies is unfair and very deceptive. The SBA claims that I am approved and should have received the funds. I’m still in the database that I received the loan. I was told an adverse action has been taking and I was denied and that was final without any explanation as to why. When I reached out to see why they didn’t fulfill their promise. I made many attempts to speak to someone regarding this issue to be told by their agents that my file has been check and everything looks good for funds to be disbursed. I was told I would receive my funds within the week but never have. I was approved on and signed all of the documents. I applied for a loan with Blueacorn under the CARES Act.
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