How do I find my lender PPP loan number?
Your SBA PPP Loan Number a 10 digit number assigned by SBA. You can: Find it on your loan agreement or loan closing documents. Contact your financial institution.
What is the difference between my Lender PPP Loan Number and my SBA PPP Loan Number? The Lender PPP Loan Number is a number assigned to the PPP loan by your Lender. SBA assigned the SBA PPP Loan Number to your loan at the time of approval by SBA.
You can find your SBA PPP loan number / ID on your account's home page once you log in to my.scratch.fi. The SBA PPP loan number is labeled "SBA Loan #" and is in the top left side of your account home page (see image below for guidance).
Search for a borrower, or if you want to see how many people received loans in your state and other interesting facts, check out our PPP dashboard.
How do I repay my PPP loan? On your payment due date, we'll automatically debit the amount due from the same bank account your PPP loan funds were deposited into . If you need to update your bank account, please contact us for assistance.
Log in to your MySBA Loan Portal and get your Loan Number, Monthly Payment Amount (Amount Due), Next Payment Date (Due Date), and Term of your Loan to calculate the number of payments.
Create an account in the MySBA Loan Portal (lending.sba.gov) to monitor your PPP loan status. Payments can only be made using the MySBA Loan Portal for SBA-purchased PPP loans. All others can continue to set up and manage online payments at Pay.gov.
If you have an existing MySBA Loan Portal account, you can find your loan number by logging in. If you have not created an account, you can find your loan number on the top left corner of the Note and the Loan Authorization and Agreement.
The Freedom of Information Act (FOIA) became law in 1966. It allows any person to request access to federal records or information. SBA must provide this information unless it is not allowed under the law (exempt).
Contact SBA's Answer Desk at 1-800-827-5722 or answerdesk@sba.gov , Monday-Friday 9:00 a.m. to 6:00 p.m. ET.
Will PPP loans be investigated?
The U.S. Small Business Administration (“SBA”) is auditing all companies that received PPP loans of $2 million or greater, while the Department of Justice (“DOJ”) and other federal agencies are ramping up the number of investigations and prosecutions of PPP loan fraud.
However, it can't hurt to check your credit reports to see if there are any suspicious accounts opened that you don't recognize. If there was a fraudulent loan filed, it would show up as opened by the SBA.
If you received a letter from the SBA regarding a fraudulent PPP or EIDL loan, your best course of action is to contact the financial institute that approved the application and the SBA or visit the SBA and follow their instructions on reporting identity theft.
Some companies are paying back PPP loans when they could be forgiven Most Paycheck Protection Program loans have been forgiven despite billions of dollars going to undeserving recipients. But some companies are voluntarily paying back their loans.
So what happens when a borrowing business can't or won't repay the loan? First, the SBA will repay the lending bank for the loan, per the SBA guarantee. Then, the SBA will try to recover any funds from the borrower, including by retaining tax refunds due to the business.
Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursem*nt.
Borrowers qualify for loan forgiveness if they use at least 60% of the funds for payroll costs between 8 and 24 weeks after the loan disbursem*nt date. A loan forgiveness application must be submitted before the maturity date of the loan, which is either two or five years from the date the loan originated.
For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.
Existing borrowers can use the MySBA Loan Portal to make payments and view loan documents on the following loan types: All SBA disaster loans, including COVID-19 EIDL and physical loss loans.
What Happens if You Can't Pay Your SBA Loan Installments? If you can't make your SBA loan payments, you won't just be in trouble with your lender. The SBA will get involved and, when you still can't pay your debt, they'll transfer your account to the US Department of the Treasury.
Will SBA loans be forgiven?
Business owners defaulting on their SBA loan can apply for loan forgiveness, but that does not guarantee the SBA will approve the request. It is more commonly referred to as an "offer in compromise". The SBA evaluates your case and discusses the matter with the lender.
If your business has permanently closed, you are not eligible for a PPP loan. If you temporarily closed your business or temporarily halted operations, you may still qualify.
View loan balance and make payments
Create an account in the MySBA Loan Portal (lending.sba.gov) to monitor your loan status or to make payments.
A Web-based platform where SBA borrowers can view loan details, make payments, and access statements for COVID-19 EIDL, Disaster, or SBA-serviced 7(a) loans.
Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.
