#Ppp fastlane womply live chat update#
#Ppp fastlane womply live chat full#

I am very content with their services and have zero affiliation-just lucky enough to find a lender who actually cares and can do their job. If you are having trouble with your PPP loan with Womply or any other so-called lender, I would recommend contacting First State Bank: PPP This didn't sit well with me and they were taking too long to process my first PPP application, so I jumped ship and went to FSB. We are just making it easier by not having to submit 2 separate applications. Then you will receive a second email asking you to sign that you want your second draw loan submitted to the SBA for approval. If you get accepted and receive funds we give you some time to spend it. We have you apply for both but only go through the process for your first draw. We do not get approval for the funds to disperse at the same time. Womply Support sent me this on the subject before I canceled my application after waiting for weeks for then to process may 'fast lane' application:įrom: Womply Support Date: Friday, Maat 2:06 PM Subject: Re: PPP Fast Lane Question I applied with Womply and waited a month before canceling my application and getting it done through FSB, which took exactly one week from first contact to funds in my account-that was 2.5 weeks ago, so I will be applying for second round in mid-May with them, in adherence to the SBA's guidelines on PPP loans and first and second round draws. PPP was just extended to that is 62 days from today, or 8.85 weeks.

#Ppp fastlane womply live chat full#

You cannot have overlapping PPP funds of any kind between the two rounds so it doesn't matter what they claim, until your first round funds are spent in full and a minimum of 8 weeks have elapsed, you cannot apply for a second PPP loan. They are a third-party data aggregator compiling loan applications to sell to actual PPP lenders-the larger loans get processed first for obvious reasons, and my loan was obviously at the bottom of the pile. Womply is full of shit and they are the furthest thing from 'fast'. Our support team does not have any other information on this matter so looking out for an email is what we suggest.ġ) Has anyone who fits the above criteria received a second round email, invite, DocuSign, etc.from Womply considering all the above criteria at anytime since March 21, 2021?Ģ)Has anyone fitting the above criteria been funded for PPP2? If you applied for the second draw through Fast Lane, we will start sending out next steps for those that may qualify at the end of this week (week of March 21st) so please keep an eye out on your email for next steps.

#Ppp fastlane womply live chat update#

(Source: PPP Update March 25, 2021)ģ)Womply BOT Status Check/Question and Answer Section: Under the rules, applicants for a Second Draw loan must certify that they have used or will use their First Draw loan for eligible expenses prior to receiving their Second Draw loan. If you applied with PPP Fast Lane and requested two PPP loans, we will optimize this process for you based on SBA rules.Tips if you already did your First Draw loan application via PPP Fast Lane: Please do not start a new application on PPP Fast Lane for your Second Draw (it will only cause you to get unwanted notifications). Please be patient: we have access to data about your First Draw loan that you can’t see and we are coordinating closely with lenders and the SBA to optimize this application process for you within the rules. The SBA started accepting Second Draw applications for businesses that received their First Draw loan in 2021. (Source: PPP Fast Lane Update March 19 2021) So if you get your First Draw funded on Monday, you’ll get your Second Draw application sent for signature by end of day Wednesday. (Just because we make it easy doesn’t mean you are not responsible!) After Monday this will be a daily process. Don’t forget to read and understand what you’re signing before you sign your DocuSign.

With Fast Lane, you just give your info once and then we automatically use that to create two loan applications for you.

These applications will be emailed from DocuSign. On Monday March 22, we will start automatically sending Second Draw PPP applications to anyone who has already been funded for their First Draw PPP loan through Fast Lane. Womply sent the following weekly updates, notifications, and responses out regarding PPP2 (i.e., second round or second draw): Eventhough all topics are important this post specifically relates to Womply's Fastlane customers who:ġ) During the initial Fastlane application process, selected and applied for both PPP1 and PPP2 Ģ) Been funded and received the PPP1 funds in their bank account andģ) Their SBA Borrower's account (Capital Access Financial System account, i.e., CAPS or CAWEB account), under 'Loan Status' shows 'Disbursed-Current'. Womply has been sending out weekly and general updates regarding a variety of topics.