WebFeb 21, 2024 · The computer systems the SBA uses to process PPP applications produce dozens of different error codes related to failed validation checks and other issues. Those codes are causing a significant percentage of applications to be … WebBasically, there’s two lists of hold codes. If your hold code is on the 1st list, the lender can validate it, self-certify, and you get funded. If your code is on the 2nd list, however it’s a code that the SBA , and ONLY the SBA can clear.
SBA looks to simplify, expedite PPP loan forgiveness process
WebFeb 10, 2024 · SBA provides lenders with several methods for resolving hold codes and compliance check error messages, including resolution through lender certification or … WebJan 7, 2024 · PPP borrowers with NAICS codes starting with 72 (such as hotels and restaurants) can receive up to 3.5 times their average monthly payroll costs on second-draw loans. The maximum for a first-draw PPP loan is $10 … thread mills jobs newark
UNRESOLVED BORROWER RESOLUTION PROCESS FOR …
WebFeb 18, 2024 · SBA Procedural Notice 5000-20092 provides two tables to help identify additional support to resolve hold codes and compliance check error messages. Table 1 … WebJan 14, 2024 · SBA Procedural Notice 5000-20092 provides two tables to help identify additional support to resolve hold codes and compliance check error messages. Table 1 codes and messages can be resolved by lenders through a certification process whereas Table 2 codes require SBA review. Table 1: errors that can be resolved by lenders thread milling program excel