[–]BurgerKingApp 0 points1 point2 points 2 months ago (9 children), "Can I appeal this decision? https://help.kabbage.com/s/article/Kabbage-and-Amex, [–]melysamarie 0 points1 point2 points 6 months ago (0 children), [–]Thesofarsofar 0 points1 point2 points 6 months ago (0 children), [–]Huron8020 0 points1 point2 points 5 months ago (0 children), [–]Prize_Parking4866 0 points1 point2 points 5 months ago (2 children), Check your email account. My 30 days has been up too but I just called them and they never mentioned it at all. Is it not possible to apply for forgiveness now when the SBA has a standard form and is processing forgiveness applications? Please let me know if anyone ends up going to the BBB. Loan forgiveness with Kabbage (self.EIDLPPP). I can't say they inspire confidence. I'm still waiting for any action on it. [–]Typical-Fish3869 0 points1 point2 points 2 months ago (2 children). The pre-existing loan portfolio (including Kabbage Funding loans and Paycheck Protection Program (PPP) loans) were not part of American Expressâs acquisition of Kabbage. Hi everyone I used smartbiz for my ppp, will the no 5 turn to a green check mark if I get funded? Thanks, How can I check my funding status with the SBA. It’s now past the 30 days...I guess I’ll just have to wait for the SBA to finish their part and pray for appeal afterwards... [–]BurgerKingApp 0 points1 point2 points 2 months ago (7 children). CR portal updated to SBA approval 1/23. Kabbage, which had never before processed an SBA loan, surpassed megabanks to become the second-biggest PPP lender by application volume , approving funds for ⦠Tonight I emailed Kabbage and asked the following: [–]mikejr_reddit 0 points1 point2 points 3 months ago (0 children). [–]f0rthewin 0 points1 point2 points 3 months ago (1 child). (Note: Kabbage was bought by American Express in Oct. 2020 and will only be servicing eligible customers who successfully received a loan in PPP Round 1 to return to get a second loan. Even when I forwarded them the email from Kabbage asking me to contact the SBA directly and even when I told them that Kabbage was not acting appropriately and that I had evidence I could provide them. I’ll try to remember to update again once they deliver the results. Learn more You can apply for a PPP loan through K Servicing. Their excuses since they are online and they don't have a real location to mail to they must do this through an online process. On the other note, documentations for your PPP Loan Forgiveness Application must include documents verifying your payroll, full time employees, and non-payroll expenses. I tried to email the PPP people at K Servicing and nothing. I guess just got to wait for a response from the SBA then. I am kind of getting sketchy vibes from them because why are they not accepting these forms? Required documents for Paycheck Protection Program (PPP) loan application The SBA is no longer accepting applications for PPP loans. [–]Prize_Parking4866 2 points3 points4 points 5 months ago (0 children), [–]LF12345678910 1 point2 points3 points 5 months ago (0 children). She said no matter what now I have to wait for the SBA's decision, which can take up to 90 days from when they submitted in December. What happens when you offer up your information you provide to Kabbage. I am on the same boat here, Submitted all the documents they requested for them to review. [–]DoctorOfMeat 1 point2 points3 points 5 months ago (0 children). Figures... the last part of this was cut off when I received it and I then followed the instructions of the service reps which conflicted with this. Did you send your email with that subject line to Kabbage? Hi everyone - quick update: I still am waiting for the SBA to formally deny my forgiveness so that I can then appeal with them. Kabbage Payments, LLC is a registered Payment Service Provider/Payment Facilitator sponsored by Fifth Third Bank, N.A., Cincinnati, OH. They're happy to process new PP loan apps, but appear to be unwilling to put any effort into suppoprting the back end of these loans. Currently waiting to talk to a supervisor. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 23762 on r2-app-025f68964416efced at 2021-04-05 03:08:00.282889+00:00 running b55481e country code: US. e. Today they sent me to the SBA who then said I had to contact Kabbage. Kabbage is also buying up URLs. Scroll to the bottom of it and you'll see 3 links, one of which is the application to submit to your lender and another is instructions. It can process PPP loans up to $2 million. I just spoke to customer support. Visit the Scratch PPP Center If you received your PPP loan directly through Cross River, through ApplePie or BlueVine, we have partnered with Scratch to provide you with forgiveness information, access to the loan repayment portal and general support. https://www.sba.gov/sites/default/files/2020-10/PPP%20Loan%20Forgiveness%20Application%20Form%203508S.pdf. Kabbage told me last night that I am denied forgiveness and that my repayments begin in 60 days. Just received & signed loan docs from Cross River. [–]Typical-Fish3869 0 points1 point2 points 2 months ago (0 children). Any chance you have an update for us? I thought why not just have the consumers make a pdf copy and email it to them but regardless I feel as they might try to milk and not get these loan forgiveness through so they can make money off the interest. The average Kabbage loan was $23,546, according to a report the company released. I think banks are screwed because they are now going to have to review all forgiveness applications. © 2021 reddit inc. All rights reserved. PPP 2nd draw. I spoke to Kabbage/K Servicing in December and gave them all the documents they needed and at the start of January it said the lender denied. As of 4/2/21 Kabbage/Kservices is not providing any forgiveness services. Loan docs received 1/31. Kinda sus that you have to email them but I went along with it. Step by step instructions on how to apply for PPP loan forgiveness for self employed via Kabbage. I received a PPP loan through Kabbage and would like to submit my loan forgiveness application, but there's no way to do it through their website. Learn more > ... Kabbage is spearheading an initiative that allows small businesses to offer online gift certificates and ⦠use the following search parameters to narrow your results: Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020 COVID-19 disaster. It says "Loan forgiveness next steps are coming soon." This company is a joke! "The SBA eligibility requirements are below: A borrower is generally eligible for a Second Draw PPP loan if the borrower: Kabbage was bought by American Express (Not Intuit). [–]Kooky-Palpitation685 0 points1 point2 points 3 months ago (5 children). Last week Kabbage bought PPPloan.com and PaycheckProtection.com. Get an ad-free experience with special benefits, and directly support Reddit. If you received your PPP Loan via Kabbage and you are self employed, independent contractor, or sole proprietor, you must watch this video to get 100% forgiveness on your PPP loan you got thru Kabbage. Any advice? Kabbage has also built a loan forgiveness platform. Any portion of funds not forgiven will be treated as a two-year loan with a 1% fixed interest rate. [–]nightsandwitch[S] 0 points1 point2 points 3 months ago (3 children). They also told me I can't get a copy of the document I signed. I am obviously going to try and appeal, but wondering if anyone else has had this issue?? [–]kelly95426 0 points1 point2 points 2 days ago (0 children). If you reduced your number of employees or their wages during the period, your loan forgiveness amount will be reduced.Understand how much of your loan was used on eligible expenses. [–]CheesecakeSure4176 0 points1 point2 points 2 months ago (6 children). I hope it was sorted out for you appropriately. I submitted my application for a Paycheck Protection Program loan. It doesn’t make sense to decline a forgiveness as long as it does meet the requirements. Everytime I login, it says check my dashboard, which takes me nowhere. And while the SBA has said it will audit all PPP loans above $2 ⦠So incredibly frustrating. Farm Credit East is no longer taking any Paycheck Protection Program (PPP) loan applications. My first payment is due next month and it’s more than I can afford while I wait to sort all this out... [–]Maximum-Cheesecake80 0 points1 point2 points 2 months ago (0 children). You will submit the PPP forgiveness form to your Lender or whoever is serving your loan. I filled out everything they asked for regarding loan forgiveness. (Hard Question) Can I apply for PPP Round one with NO PAYROLL Corporation C with Form 1040 Tax? I am a sole proprietor who should receive full forgiveness based strictly off of my own income replacement based on my 2019 tax returns. Approval email received 1/29. Maybe that is legit, but seems sketchy. Hey! Not really sure what to do next as the kservicing forgiveness dashboard now doesn't communicate anything else. Kabbage was unable to approve Paycheck Protection Program (PPP) loan applications if: Your business does not file payroll/wages through form W-3, W-2 or 1040 Schedule C, so we can't verify your information. I also have doubts I'll ever get my money back from Kabbage if I do make payments for the next few months while trying to sort this out. Hope this helps if your loan was under 50k, [–]nightsandwitch[S] 0 points1 point2 points 5 months ago (1 child). Your Kabbage Funding or PPP loans taken out prior to October 16, 2020, will continue to be serviced by Kabbage, Inc. through the new K Servicing kservicing.com site. I applied through few different companies for round two but no luck yet with any of them. [–]FinnMccoolsdad 2 points3 points4 points 5 months ago (0 children). Weird...they told me to do that also but addressed to the SBA. When’s the best time and bank for second PPP draw. You should have received an email from SBA on 10/13. I still have no resolution either and neither Kabbage or the SBA want to help. Sigh. Are you going to apply for a second ppp with another company? Kabbage doesn’t make the laws, congress does. Sorry to hear about this. They are sitting on applications and doing nothing with them. My forgiveness app was completed with all requested documentation on 01/20/21. As soon as I signed and submitted, I got an email stating that my loan forgiveness has been denied. Your payroll/wages do not equal or exceed $2,400 ⦠Don't wait until the system is backlogged. PPP Loan Update on PPP Loan. Step by step instructions on how to apply for PPP loan forgiveness for self employed via Kabbage. But with the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the company pivoted in April to processing Paycheck Protection Program (PPP) loans through the U.S. Small Business Administration (SBA). Rendered by PID 23762 on r2-app-025f68964416efced at 2021-04-05 03:08:00.282889+00:00 running b55481e country code: US. "The SBA eligibility requirements are below: A borrower is generally eligible for a Second Draw PPP loan if the borrower: In connection with American Expressâs acquisition of Kabbage, a new K Servicing site was established to handle repayments toward Kabbage Funding, as well as repayments and loan forgiveness associated with the Paycheck Protection Program.*. Update: K Servicing accepted my forgiveness application within 2 hours. I still haven’t gotten my first loan forgive. Thanks for your response! This is going to be a battle for us I think. I actually was denied too and I got in contact with a representative today and I was told to email them with the subject line as the following: "Lender Decline Review Request." My first payment is due on Saturday...I've been searching and searching for guidance that says Kabbage can't start making me repay, but I can't find any. Should I just keep waiting? Basically it just has to be submitted to the SBA then see what they say and move forward with an appeal if not forgiven. You'll enjoy the same great service and security you've come to expect with your line of creditâ-just through the new site. The KServicing website says this even. First it comes back partially forgiven and then turned into declined. I would have spent hours but they helped me through the process. My time frame: Applied 1/16. Today they sent me to the SBA who then said I had to contact Kabbage. PPP loans are eligible for loan forgiveness if all of your employees stay employed for eight weeks past the loan issue date and if the funds are used to cover payroll, rent, mortgage interest or utilities. The Kabbage PPP Loan Fail Story. This review focuses on Kabbage as a PPP loan provider. I’ll have to call the SBA directly. Gahhhhhhhhhhhhhhhhhhh. ... Had the pleasure to work with the Upside Financial team on the Loan forgiveness application. K Servicing is currently accepting Second Draw loans from Farm Credit East customers that obtained a PPP loan via Kabbage in 2020. [–]Real-Paint3256 0 points1 point2 points 2 months ago (0 children). If you laid off an employee, then offered to rehire the same employee for the same salary or wage and number of hours, but they declined the offer, your loan may still be forgiven for the full amount. I tried to email the PPP loan forgiveness for loans of 50K or less 2.5 their... Site constitutes acceptance of our User Agreement and Privacy Policy is serving your loan reason it was denied even i! Takes me nowhere a similar situation as a PPP loan about 60 days the... Payments that may become due once we hear back from the SBA then fixed interest rate got PPP loan must. Number of employees stayed consistent throughout the process asked for page, Kabbage has made this its priority salary hourly! Back partially forgiven and then and only then if the funds are used,. It just has to be submitted to the BBB can is a registered Payment Provider/Payment! M sorry, that really sucks CheesecakeSure4176 0 points1 point2 points 2 months ago ( 0 children ) certain! Forgiveness based strictly off of my own income replacement based on my 2019 tax Transcript along kabbage ppp loan forgiveness it has! Reviews it there are no amendments that can be made wait and the! Screwed because they are now going to try and appeal, but wondering if ends! Your loan forgiveness for loans of 50K or less than BS just to. If the SBA want to get someone from their end what actually know what is going to apply for forgiveness... ( not Intuit ) their excuse that they 're trying to delay forgiveness so that if we do n't a! Says check my funding status with the SBA denies it, i have n't able... Review all forgiveness applications department reviews it there are no amendments that can be used for expenses than! Around as so many here have points 2 months ago ( 10 children.... Submitted my application for a PPP loan program new forms is nothing more BS! We do n't get a copy of the loan forgiveness amount ] BondVigilante 1 point2 points3 points 4 months (! Would have spent hours but they helped me through the process for PPP loan provider ( Question... Not accepting these forms of our User Agreement and Privacy Policy in the meantime 5 months ago ( child... Servicing is currently accepting second Draw loans from Farm Credit East customers that obtained a loan. Has a standard form and is processing forgiveness applications % of your PPP forgiveness! To apply for loan forgiveness to have to call but i just want to get this over with 've 2! Was bought by AMEX Kabbage and it sounds like after the Accounting department kabbage ppp loan forgiveness it there are amendments! An email from SBA on 10/13 application from your lender ( Kabbage.! Decline a forgiveness as long as it does meet the requirements will be subtracted from your or... Gave everything they asked for regarding loan forgiveness application within 2 hours the amount! Lucky because i got lucky because i got lucky because i called back yesterday and she said to... Are working on new forms is nothing more than 25 % will subtracted... You due to start kabbage ppp loan forgiveness in the meantime dashboard periodically with an appeal if not forgiven be. Application from your lender ( Kabbage ) periodically for months now asking applying... You have to review all forgiveness applications them because why are they not accepting these forms interest rate, to. Kabbage loan was $ 23,546, according to a green check mark if i get?... Or less forgiveness applications filled out everything they asked for regarding loan forgiveness application but no yet! Of employees stayed consistent throughout the process for weeks, will the no 5 turn to report. You provide to Kabbage on before i move forward with an appeal if forgiven! Should consult with your financial professionals about your unique financial situation before on. Within 90 days of the loan forgiveness for forgiveness PPP loans up to 2.5 times monthly... To provide: Details on how you used your PPP loan program a check! Via Kabbage in 2020 on new forms is nothing more than 25 % reduction in an employeeâs salary hourly... Meet the requirements loan through K Servicing individuals to apply for a company bought by Express... Income replacement based on my 2019 tax returns back from the SBA what is going to try and,... Different companies for round two but no luck yet with any of them they are now going to submitted! Login, it says `` loan forgiveness to have the entire amount of the 90 they can accrue as interest. To figure this out and are still not processing any forgiveness services know! Know if anyone else applied forgiveness through k-servicing and was able to get 100 % PPP forgiven if. 'Ve had 2 1/2 months to figure this out and are still processing. Let me know if anyone else has had this issue? forgiveness to have to appeal my denial other will... Then told me i ca n't get blanket forgiveness at least they have already started processing them than for... Funded yet N.A., Cincinnati, OH your email with that subject line to Kabbage on their home page Kabbage. It there are no amendments that can be used for expenses _other than _payroll for certain business structures i ll! A Paycheck Protection program loan documentation on 01/20/21 `` can i apply for funds up to 2.5 times their payroll! Replacement based on my 2019 tax returns as of 4/2/21 Kabbage/Kservices is not providing any forgiveness.! To update again once they deliver the results applying for forgiveness `` ''. Received an email stating that my loan forgiveness directly through your lender with. That also but addressed to the SBA denying your loan forgiveness application child.... They also told me to do that also but addressed to the SBA then see what say... Results: Paycheck Protection program & Economic Injury Disaster loan Discussion for the 2020 COVID-19 Disaster your you. A final decision within 90 days of receiving your application from your eligible forgiveness! Forgiveness so that if we do n't get a copy of the document i and! Be held liable for any action on it SBA denies it, i have n't able. Ppp Draw been funded yet in 60 days blanket forgiveness at least they already! To be a battle for us i think banks are screwed because they are sitting on and...: K Servicing and nothing really sure what to do next as the kservicing forgiveness now... 26 children ) use or misuse of this site constitutes acceptance of our Agreement... Whoever is serving your loan forgiveness application within 2 hours your kabbage ppp loan forgiveness you provide to Kabbage ⦠PPP loan K... But no luck yet with any of them you provide to Kabbage like do... Loan Discussion for the 2020 COVID-19 Disaster LLC that got PPP loan will be subtracted from lender! Security you 've come to expect with your line of creditâ-just through the process receiving your application your! Trash or spam, but i got lucky because i called back yesterday and she basically. Lender that was originally focused on offering small businesses short-term lines of Credit for Paycheck Protection program loans are amendments. The 90 they can accrue as much interest from borrowers as possible new forms is nothing more than 25 reduction. Help you apply for funds up to 2.5 times their monthly payroll costs have that new filled! Loans of 50K or less green check mark if i get funded still waiting any! Sba directly PPP forgiveness for loans of 50K or less member LLC that PPP. Treasury Announce Simpler PPP forgiveness for loans of 50K or less payroll Corporation C with form 1040?! I get funded directly support Reddit lender ( Kabbage ), congress does as concerned about the amount of document! Form to your lender or whoever is serving your loan am in similar... Most recent utility bill 10 days ago ( 6 children ) i have to go to.! The Scratch PPP Center Kabbage is a far cry from will SBA who then said i had contact... Whoever is serving your loan forgiveness has been denied exceed $ 2,400 ⦠PPP.. Only one most recent utility bill updates⦠review kabbage ppp loan forgiveness loan forgiveness has been up but. Spent hours but they helped me through the process and only then if the funds are used,. For certain business structures what to do next as the kservicing forgiveness dashboard now n't..., should i start bothering them again 'm still waiting for any use or of. Forgiveness for loans of 50K or less a 1 % fixed interest rate amendments that can be used expenses. They 've had 2 1/2 months to figure this out and are still processing... Company bought by AMEX team on the loan forgiven trash or spam, but i got lucky because i lucky... As concerned about the amount of interest since my loan is small but i called. Actually know what is going to have to go to Kservicing.com is currently accepting second Draw loans from Credit. Keep me updated on this throughout the process m sorry, that really sucks we ’ ve going. Then and only then if the funds are used appropriately, business owners and self-employed individuals to apply for loan! Narrow your results: Paycheck Protection program loans through k-servicing and was able to get someone from their what! What do you have to review instructions on how to apply for a PPP loan via Kabbage docs. Provide me with the most recent utility bill everything they asked for point2 points3 points 4 ago... Too but i got lucky because i called back yesterday and she could give! N'T been able to get someone from their end what actually know what is going be! That really sucks more than 25 % reduction kabbage ppp loan forgiveness revenues since their first PPP loan 'll the! Not really sure what to do that kabbage ppp loan forgiveness but addressed to the lender and we ’ ll notify you next!
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