WHATEVER THIS MEANS
Thank you for submitting your application for the Paycheck Protection Program loan through PayPal. We understand the challenges your business is facing and are working as hard as we can to help secure your funding.
Your PPP loan application is complete and will be processed through the SBA as soon as we are able.
The additional funding Congress allocated to the Paycheck Protection Program became available on Monday, April 27. Since then, we have processed applications through the SBA as quickly as we are permitted. Due to the unprecedented demand, the SBA processing is taking longer than anticipated. We expect that it will take several more days for us to process completed applications through the SBA and to receive the required SBA loan number necessary for funding. For funding to occur, the SBA must accept your application and program funds must remain available.
We are doing everything we can to help complete the processing of your application through the SBA. We will continue to communicate updates through email. Our contact centers do not have access to the status of your loan, and they will be unable to provide any updates if you call.
Thank you for your patience.
Sincerely,
The PayPal Business Financing Solutions Team