COVID-19 Outbreak (Update: More than 2.9M cases and 132,313 deaths in US)

PSA re: PPP loans

I actually did receive a PPP loan and was funded five days ago. It went into a new business account I set up (separate from my primary business checking account). I didn't see it because I hadn't linked the account to my online profile yet, and for some really bizarre reason the lender just put the money in my account without any sort of heads up of "hey, we just deposited a big check into your account".

I ran it through PayPal (I legitimately applied to at least eight lenders) which I guess sends out to WebBank as a third party. They were unresponsive to questions. But I applied April 14, got an email asking for a couple of supporting documents (w9, tax returns, etc.) that same day, sent said docs right back to them, and was funded April 16.

So for those of you guys with small businesses, might be worth a try.

Heads up - they only funded me for my payroll compensation, not my K1 distributions or retirement contributions which account for more than half of my annual compensation. So if you are S-Corp and want to make sure you get every penny you can, maybe pick another route. But at this point I'm happy to get anything. This next $250mm is going to go just as fast and it's going to be just as corrupt.