We understand that more than a few companies are having challenges getting applications filed for the Paycheck Protection Program (PPP).
We have been advised as of 4 PM, April 7th that Regions Bank is accepting applications. Please note, however, that this is subject to change. To submit an application for the PPP loan please follow this link:
www.Regions.com/small-business/small-business-financing/paycheck-protection-program.
To check the status or upload additional documents after you have an applicaiton ID#, visit: https://LoanStatus.regions.com/cares.
Please note: It is best to use a text message when communicating on a Regions Bank application. The Point of Contact is Valia Rich…text to (321) 223-4506.
Also, in addition to continuing to attempt to find sources willing to accept an application from a non-customer, we thought the information below might be useful to know.
- Although many applications have been filed, we are hearing that the SBA still needs to provide guidance in areas that will allow these applications to be processed. In many cases banks have already taken applications in excess of what their funding allotments are likely to be.
- We are hearing that some positive changes to the PPP may happen over the next few days. It’s come to our attention that leadership in Congress sees the need for more funding for the program.
Even though your bank may have stopped taking applications, or perhaps has indicated that they are not in the program, it might pay to make sure you are top of mind to your banker. If additional funding is approved, which seems likely at the moment, opportunities to successfully apply are likely to emerge.
EDC will update you as important information comes to our attention.