Apply for SBA Paycheck Protection Program - Small Business Loans | Womply (2024)

The Paycheck Protection Program (PPP) is no longer accepting applications.

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Womply is not involved with PPP forgiveness. Please contact your PPP lender for information on their forgiveness process. If your lender has opted-in you can apply via the SBA’s direct forgiveness portal.

'; var parentEl = elem.parentNode; parentEl.classList.add('formErrorParent'); parentEl.appendChild(newEl); } if (document.querySelector('#womplyForm_demoreq-1 #account_id1').value === "") { if ( (companyVal && companyVal !== "" && companyVal !== " ") || (isPartnerICPage) ) { if (firstName.value && firstName.value !== "" && firstName.value !== " ") { if (lastName.value && lastName.value !== "" && lastName.value !== " ") { if (emailRegex.test(emailVal)) { if ( (minifiedPhone.charAt(0) !== "1" && minifiedPhone.length === 10) || (minifiedPhone.charAt(0) === "1" && minifiedPhone.charAt(1) !== "1" && minifiedPhone.length === 11) ) { if (zipICHidden || (zipICEl && zipRegex.test(zipICElVal))) { if (entityType && entityType !== "") { if ( (isPartnerICPage) || (payrollAvgVal && payrollAvgVal !== "") ) { if ( (googleexternal_url && "" + googleBusinessName + ", " + selectedBusiness.address === companyVal) || (address1Val && address1Val !== "" && address1Val !== " ") || (isPartnerICPage) ) { if ( (isPartnerICPage) || (gotPreviousLoan === "1" || gotPreviousLoan === "2") ) { document.querySelector('#womplyForm_demoreq-' + formid + ' input.Phone').value = formattedNumber; // START redirect logic document.getElementsByClassName("womplyButtonWrap")[0].innerHTML="";window.scrollTo({top: 200, behavior: 'smooth'}); emailValidationService(emailVal, ipAddr).then(kickboxResponse => { if (kickboxResponse.valid) { if (isPartnerICPage) { mobileValidationService(minifiedPhone).then(mblValidateResponse => { if (mblValidateResponse.valid) { var anonymousIdIC = analytics.user().anonymousId(); var redirectURLIC = "https://www.smartbizloans.com/apply?partner_id=womply&sb_apply_form=paycheck_protection&partner_customer_id=" + anonymousIdIC + ""; var languageSpoken; if (document.getElementsByName("spanish_speaking")[0].checked === true) { languageSpoken = "es_MX"; } else { languageSpoken = "en_US"; } var segmentTrackIC = { frmName: "SBA Request Form", btnText: btnOrigMsg, frmId: "" + formid + "", first_name: firstName.value, last_name: lastName.value, company: "PPP-IC", free_text_business_name: false, companyZip: "unknown", phone: formattedNumber || null, email: "" + emailVal + "", pageURL: "" + demoRequestFullUrl + "", frmType: "embedded", location: "unknown", specialCode: "SBA-PPP-2", url_redict: redirectURLIC, business_entity_type: "Independent contractor", average_monthly_payroll: null, address_line1: null, address_line2: null, city: null, state: null, zipcode: fullAddress.address.zipcode.value || zipICElVal || null, social_url: null, business_location_id: null, paying_customer: null, mobile_signup: mobileUser || null, received_ppp_round1_loan: null, language: languageSpoken }; if (kickboxResponse.data) { segmentTrackIC.kickbox = kickboxResponse.data; }document.getElementsByClassName("legal-popup")[0].style.display="flex";document.getElementById("i_agree").onclick = function(){analytics.track('First Draw IC SBA Application part 1', segmentTrackIC);var kickboxObjStr = encodeURIComponent(JSON.stringify(kickboxResponse.data));if(window.location.search){ // document.location.href = "https://www.womply.com/ppp-ic-firstdraw/"+ window.location.search +"&first_name=" + encodeURIComponent(firstName.value) + "&last_name=" + encodeURIComponent(lastName.value) + "&phone=" + encodeURIComponent(formattedNumber) + "&email=" + encodeURIComponent(emailVal) + "&language=" + encodeURIComponent(languageSpoken) + "&url_redict=" + encodeURIComponent(redirectURLIC) + "&kickbox=" + kickboxObjStr + ""; document.location.href = "https://www.womply.com/ppp-ic-firstdraw/?first_name=" + encodeURIComponent(firstName.value) + "&last_name=" + encodeURIComponent(lastName.value) + "&phone=" + encodeURIComponent(formattedNumber) + "&email=" + encodeURIComponent(emailVal) + "&language=" + encodeURIComponent(languageSpoken) + "&url_redict=" + encodeURIComponent(redirectURLIC) + "&kickbox=" + kickboxObjStr + "";}else{ document.location.href = "https://www.womply.com/ppp-ic-firstdraw/?first_name=" + encodeURIComponent(firstName.value) + "&last_name=" + encodeURIComponent(lastName.value) + "&phone=" + encodeURIComponent(formattedNumber) + "&email=" + encodeURIComponent(emailVal) + "&language=" + encodeURIComponent(languageSpoken) + "&url_redict=" + encodeURIComponent(redirectURLIC) + "&kickbox=" + kickboxObjStr + "";}} } else { analytics.track("Failed Form Submission", { frmName: "SBA Request Form", frmId: "" + formid + "", frmType: "embedded", btnText: btnOrigMsg, pageURL: "" + document.location.href + "", reason: "mobile phone not valid", response_data: mblValidateResponse.data || null }); document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var phoneElem = document.querySelector('#womplyForm_demoreq-' + formid + ' input.Phone'); showErrorMessage('Please enter a valid US mobile phone number. You cannot use a VOIP or landline.', phoneElem); return; } }) } else {if(document.getElementsByClassName("legal-popup")[0])document.getElementsByClassName("legal-popup")[0].style.display="flex"; var entityTypeId = redirectConfig.mappedObject[entityType] getRedirectUrl(entityTypeId, payrollAvgVal, gotPreviousLoan) .then(redirectObj => { if (redirectObj.success === true) { formRedirect = redirectObj.redirectUrl; console.log('Redirecting to', formRedirect) submitDemoRequest(kickboxResponse.data); } }) } // END redirect logic } else { analytics.track("Failed Form Submission", { frmName: "SBA Request Form", frmId: "" + formid + "", frmType: "embedded", btnText: btnOrigMsg, pageURL: "" + document.location.href + "", reason: "email not valid", kickbox: kickboxResponse.data }); document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var emailElem = document.querySelector('#womplyForm_demoreq-' + formid + ' input.Email'); showErrorMessage('Please enter a valid email. Unable to deliver to ' + emailVal +'', emailElem);if(document.getElementsByClassName("legal-popup")[0])document.getElementsByClassName("legal-popup")[0].style.display="none"; // document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; // var emailElem = document.querySelector('#womplyForm_demoreq-' + formid + ' input.Email'); // showErrorMessage('Please enter a valid email. example@domain.com', emailElem); } }) } else { analytics.track("Failed Form Submission", { frmName: "SBA Request Form", frmId: "" + formid + "", frmType: "embedded", btnText: btnOrigMsg, pageURL: "" + document.location.href + "", reason: "Attempt to submit form without making any selection from 'Did you previously receive a PPP loan in 2020?' dropdown" }); document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var previousLoanElem = document.querySelector('#womplyForm_demoreq-' + formid + ' select.LoanNum'); showErrorMessage("Please select 'Yes' or 'No' from the dropdown to continue.", previousLoanElem); return; } } else { analytics.track("Failed Form Submission", { frmName: "SBA Request Form", frmId: "" + formid + "", frmType: "embedded", btnText: btnOrigMsg, pageURL: "" + document.location.href + "", reason: "Attempt to submit form without making any selection from the business search dropdown." }); document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var companyElem = document.querySelector('#womplyForm_demoreq-' + formid + ' input.Company'); showErrorMessage("Please either choose your business or click Don’t see your business? from the dropdown to continue.", companyElem); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var payrollElem = document.querySelector('#womplyForm_demoreq-' + formid + ' select.Payroll'); showErrorMessage('Please select your estimated Average monthly employee payroll for 2019 from the dropdown.', payrollElem); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var entityElem = document.querySelector('#womplyForm_demoreq-' + formid + ' select.Entity'); showErrorMessage('Please select your business legal entity type from the dropdown.', entityElem); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var zipICElem = document.querySelector('#womplyForm_demoreq-' + formid + ' input.ZipIC'); showErrorMessage('Please enter a valid zip code.', zipICElem); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var phoneElem = document.querySelector('#womplyForm_demoreq-' + formid + ' input.Phone'); showErrorMessage('Please enter a valid phone number. 855-791-6183', phoneElem); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var emailElem = document.querySelector('#womplyForm_demoreq-' + formid + ' input.Email'); showErrorMessage('Please enter a valid email format. example@domain.com', emailElem); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; showErrorMessage('Please enter your last name.', lastName.element); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; showErrorMessage('Please enter your first name.', firstName.element); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var companyElem = document.querySelector('#womplyForm_demoreq-' + formid + ' input.Company'); showErrorMessage("Please start typing and choose your business or click Don’t see your business? from the dropdown to continue.", companyElem); return; } } else { document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow button').innerHTML = btnOrigMsg; var submitBtnElem = document.querySelector('#womplyForm_demoreq-' + formid + ' .womplyButtonRow span.womplyButtonWrap button.womplyButton'); showErrorMessage('Please try submitting again.', submitBtnElem); return; }} function inputOnFocus() { document.querySelector('#' + this.id + 'Label').style = 'transform: translate(10px,0px); color: #333;'; } function inputOnBlur() { var thisValue = this.value; if(!thisValue || thisValue === '' || thisValue === ' '){document.querySelector('#' + this.id + 'Label').style = 'transform: translate(10px,33px); color: #a6a6a6;';} } function loadDemoReqFormEvents() { setTimeout(function(){ document.querySelector('#womplyForm_demoreq-1 #account_id-field_wrapper').disabled = "true"; }, 1000); document.querySelector('#womplyForm_demoreq-1 span.womplyButtonWrap').addEventListener('click', function(evt) { document.querySelector('#womplyForm_demoreq-1 #account_id1').value = ""; }); var init = false; document.querySelector('#womplyForm_demoreq-1').addEventListener('input', function() { if (init === false) { initAutoComplete('1'); init = true; } }) document.querySelector('#womplyForm_demoreq-1').addEventListener('submit', function(evt) { evt.preventDefault(); validateDemoRequest(1); return false; }); var demoReqInputsArr = document.querySelectorAll('.womply-form-container form.womplyForm-demoReq div.womplyFormRow input'); var demoReqFormSelectsArr = document.querySelectorAll('.womply-form-container form.womplyForm-demoReq div.womplyFormRow select'); var companyInputsArr = document.querySelectorAll('.womply-form-container form.womplyForm-demoReq div.womplyFormRow input.Company'); for (i = 0; i < demoReqInputsArr.length; i++) { // if (demoReqInputsArr[i].value) { // demoReqInputsArr[i].parentElement.style = 'height: 50px; margin-top: 17px !important;'; // document.querySelector('#' + demoReqInputsArr[i].id + 'Label').style = 'transform: translate(10px,0px); color: #333;'; // } demoReqInputsArr[i].onchange = function() { removeErrors(); }; demoReqInputsArr[i].onfocus = function() { // this.parentElement.classList.add('focused'); document.querySelector('#' + this.id + '-field_wrapper').classList.add('focused'); }; demoReqInputsArr[i].onblur = function() { var thisValue = this.value; if(!thisValue || thisValue === '' || thisValue === ' '){ document.querySelector('#' + this.id + '-field_wrapper').classList.remove('focused'); } }; } for (i = 0; i < demoReqFormSelectsArr.length; i++) { if (demoReqFormSelectsArr[i].name === "Payroll") { demoReqFormSelectsArr[i].onchange = function() { if (this.options[this.selectedIndex].value === "1") { removeErrors(); /*analytics.track('ppp_avg_payroll_less_than_1k', { anonymous_id: analytics.user().anonymousId(), avg_monthly_payroll: '' + this.options[this.selectedIndex].text + '' });*/ } else { removeErrors(); /*analytics.track('ppp_avg_payroll_1k_to_more_than_800k', { anonymous_id: analytics.user().anonymousId(), avg_monthly_payroll: '' + this.options[this.selectedIndex].text + '' });*/ } }; } else if (demoReqFormSelectsArr[i].name === "LoanNum") { demoReqFormSelectsArr[i].onchange = function() { if (this.options[this.selectedIndex].value === "1") { removeErrors(); /*analytics.track('PPP Received First Draw: Yes', { pageURL: "" + document.location.href + "", received_ppp_round1_loan: '' + this.options[this.selectedIndex].text + '' });*/ } else { removeErrors(); /*analytics.track('PPP Received First Draw: No', { pageURL: "" + document.location.href + "", received_ppp_round1_loan: '' + this.options[this.selectedIndex].text + '' });*/ } }; } else { demoReqFormSelectsArr[i].onchange = function() { removeErrors(); }; } demoReqFormSelectsArr[i].onfocus = function() { // this.parentElement.classList.add('focused'); document.querySelector('#' + this.id + '-field_wrapper').classList.add('focused'); }; demoReqFormSelectsArr[i].onblur = function() { var thisValue = this.value; if(!thisValue || thisValue === '' || thisValue === ' '){ document.querySelector('#' + this.id + '-field_wrapper').classList.remove('focused'); } }; } for (i = 0; i < companyInputsArr.length; i++) { companyInputsArr[i].onblur = function() { removeErrors(); var thisValue = this.value; if(!thisValue || thisValue === '' || thisValue === ' '){document.querySelector('#' + this.id + '-field_wrapper').classList.remove('focused');} // setTimeout(function(){ // var bizDropdownArr = document.querySelectorAll('.business-dropdown'); // for (j = 0; j < bizDropdownArr.length; j++) { // bizDropdownArr[j].style.display = "none"; // } // }, 1000); }; } } loadDemoReqFormEvents(); function addStandaloneRetargetingPixel() {let scriptToAdd = document.createElement('script');// Create contents of the scriptlet inlineScript = document.createTextNode("!function(s,a,e,v,n,t,z){if(s.saq)return;n=s.saq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!s._saq)s._saq=n;n.push=n;n.loaded=!0;n.version='1.0';n.queue=[];t=a.createElement(e);t.async=!0;t.src=v;z=a.getElementsByTagName(e)[0];z.parentNode.insertBefore(t,z)}(window,document,'script','https://tags.srv.stackadapt.com/events.js');saq('rt','fL3fWDJRuo-eZMVvvfHVvw');");scriptToAdd.appendChild(inlineScript);// Get the head element of the document and append the scriptdocument.head.appendChild(scriptToAdd);let noscriptToAdd = document.createElement('noscript');var imgElement = document.createElement("img"); imgElement.setAttribute("src", "https://tags.srv.stackadapt.com/rt?sid=fL3fWDJRuo-eZMVvvfHVvw"); imgElement.setAttribute("width", "1"); imgElement.setAttribute("height", "1");noscriptToAdd.appendChild(imgElement); // Get the head element of the document and append the scriptdocument.head.appendChild(noscriptToAdd);}function addStandaloneConversionPixel() {let scriptToAdd = document.createElement('script');// Create contents of the scriptlet inlineScript = document.createTextNode("!function(s,a,e,v,n,t,z){if(s.saq)return;n=s.saq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!s._saq)s._saq=n;n.push=n;n.loaded=!0;n.version='1.0';n.queue=[];t=a.createElement(e);t.async=!0;t.src=v;z=a.getElementsByTagName(e)[0];z.parentNode.insertBefore(t,z)}(window,document,'script','https://tags.srv.stackadapt.com/events.js');saq('conv','6xSA9cS3_211izqdcOpp8Q');");scriptToAdd.appendChild(inlineScript);// Get the head element of the document and append the scriptdocument.head.appendChild(scriptToAdd);let noscriptToAdd = document.createElement('noscript');var imgElement = document.createElement("img"); 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Apply for SBA Paycheck Protection Program - Small Business Loans | Womply (2)

The personal and financial information collected, transferred, stored and processed as a result of your PPP Application will be subject to Womply’s Privacy Policy.

Additionally, you hereby give Womply permission to disclose all such information to government authorities for the purposes of preventing, detecting, and investigating potentially illegal or prohibited activities such as fraud.

Apply for SBA Paycheck Protection Program - Small Business Loans | Womply (2024)

FAQs

How hard is it to apply for a SBA loan? ›

In general, eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates. Normally, businesses must meet SBA size standards, be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding.

How does the SBA paycheck protection program work? ›

PPP loans covers payroll costs, including costs for employee vacation, parental, family, medical, and sick leave. However, the CARES Act excludes qualified sick and family leave wages for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act (Public Law 116–127).

What are the SBA eligibility requirements for PPP? ›

In addition to small business concerns, a business is eligible for a PPP loan if the business has 500 or fewer employees whose principal place of residence is in the United States, or the business meets the SBA employee-based size standards for the industry in which it operates (if applicable).

Are PPP loans guaranteed by the SBA? ›

Are these loans guaranteed by the SBA? Yes, the SBA guarantees 100% of the outstanding balance, and that guarantee is backed by the full faith and credit of the United States. Are there guarantee fees? The SBA waives all SBA guaranty fees, including the upfront and annual servicing fees.

What disqualifies you from an SBA loan? ›

The most common reasons SBA loans are denied are poor credit, too much existing debt, or insufficient collateral. Other reasons include: Prior bankruptcy. Negative taxable income.

What is the easiest SBA loan to get approved for? ›

SBA Express loans, part of the SBA's 7(a) loan program, offer the easiest application process and the fastest approval times among all SBA loans. These loans, with payoff periods as long as 25 years, are designed for purposes such as refinancing debt, buying equipment, or improving real estate.

Do you pay back Paycheck Protection Program? ›

Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred and borrowers will begin making loan payments to their PPP lender.

Did the Paycheck Protection Program work? ›

Our best evidence is that about 2.97 million jobs per week were preserved by the Paycheck Protection Program in the second quarter of 2020, and 1.75 million jobs per week were preserved in the fourth quarter.” 5.

Who is not eligible for a PPP loan? ›

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.

What credit score do you need for a SBA loan? ›

SBA-qualified lenders usually set their own criteria when assessing your eligibility. Most lenders will require a minimum FICO score of 620 or higher for their SBA Loans.

What income do you need for SBA? ›

SBA 504 Loan Requirements

To start, you must meet the following criteria: Your tangible net worth should be no more than $15 million. Your average net income should be less than $5 million after paying federal taxes over the previous two years.

What is the difference between a PPP loan and a SBA loan? ›

While PPP loans were designed as a temporary and short-term relief from the economic decline due to the pandemic, SBA loans were created as a long-term financing solution. They have a more extended repayment or maturity term that can be up to 25 years, depending on the borrower's business sector.

Do people get denied for SBA loans? ›

You're not alone if you applied for an SBA loan and were denied. Most small businesses struggle to qualify, with over 50% of applicants being rejected. You can take concrete steps to improve your application, whether applying for the first time, trying to appeal a denial, or reapplying for a loan.

Can a PPP loan get you in trouble? ›

Tax Evasion (26 U.S.C. § 7201) – A lot of companies and individuals that fraudulently obtained PPP loans will face charges for federal tax evasion as a result of their unlawful use of PPP loan funds.

How do I guarantee an SBA loan? ›

For SBA loans, the type of personal guarantee required depends on how much of the business an individual owes. Business owners who own 20 percent or more of the company must sign an unconditional guarantee. Business owners who own less than 20 percent of the company may sign a limited guarantee.

What credit score is needed to get a SBA loan? ›

The minimum credit score required for an SBA loan depends on the type of loan. For SBA Microloans, the minimum credit score is typically between 620-640. For SBA 7(a) loans, the minimum credit score is typically 640, but borrowers may find greater success if they can boost their credit score into the 680+ range.

Why are SBA loans so hard to get? ›

Factors that impact business loan approval

Lenders place the heaviest weight on your cash flow, credit history and time in business. They'll use this information to approve or deny your loan and determine your interest rate. Don't get discouraged if your business doesn't meet all these standards.

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