Does Blue Acorn do second draw PPP?

Asked by: Trent Russel  |  Last update: February 9, 2022
Score: 4.8/5 (22 votes)

Learn more. PPP borrowers are eligible for up to 2.5x monthly payroll costs for their initial PPP loan, as well as any second draw. If your business falls under NAICS code 72 (Accommodation and Food Services), you may qualify for up to 3.5x monthly payroll costs for a second draw. All second draws are limited to $2M.

Is PPP second draw available?

Following new coronavirus stimulus legislation passed in December 2020, the Small Business Administration (SBA) began accepting applications for second-draw PPP loans on January 13, 2021. Applications for second-draw PPP loans will be open until May 31, 2021, or until the money allocated for the program runs out.

Are Blueacorn PPP loans still available?

Unfortunately We Are No Longer Accepting Applications

We are currently unable to accept new applications for PPP loans, due to high volumes, limited SBA funds, and the program's upcoming 5/31 expiration.

What banks are doing the second round of PPP loans?

All of these banks are confirmed as participating in PPP Round 2.
  • Wells Fargo. Wells Fargo Business Loans. Visit Site. ...
  • Chase Bank. Chase Bank Business Loans. Visit Site. ...
  • Bank Of America. Bank Of America Business Loans. Visit Site. ...
  • U.S. Bank. U.S. Bank Business Loans. Visit Site. ...
  • PNC Bank. PNC Bank Small Business Loans. Visit Site.

What is the deadline for the second draw PPP loan?

Borrowers can apply for a Second Draw PPP Loan until March 31, 2021, through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, eligible non-bank lender, or Farm Credit System institution that is participating in PPP.


27 related questions found

Can you get 2 PPP loans 2021?

You can't apply for a first-draw PPP loan AND a second-draw PPP loan at the same time, but if you act quickly, you can get your first draw funding and spend it in a legal fashion (i.e., on payroll expenses—which in the case of independent contractors, eligible self-employed individuals, or sole proprietors means paying ...

Do you have to wait 8 weeks to apply for second PPP?

When can you apply for the Second Draw? Eight weeks must pass from the time you get the First Draw PPP until the Second Draw PPP is disbursed to you. You can apply for the Second Draw before the 8 weeks has passed. However, if you do so, you want to make sure you don't accept the Second Draw money until after 8 weeks.

Which bank are still accepting PPP applications?

  • America First Credit Union. America First Credit Union is currently accepting applications on its website. ...
  • Ameris Bank. Ameris Bank is accepting applications from borrowers who received their first PPP loan through the bank. ...
  • AmPac Business Capital. ...
  • AltCap. ...
  • Atlantic Capital Bank. ...
  • Bankers Trust. ...
  • Bank of America. ...
  • Bank of Hope.

Which lender is best for PPP loan?

Best SBA Lenders for 2022
  • Best Overall: Live Oak Bank.
  • Best for Quick & Easy Process: Funding Circle.
  • Best for Small Loans: United Midwest Savings Bank.
  • Best for Large Loans: Bank of the West.
  • Best for Real Estate: Byline Bank.
  • Best for an In-Person Experience: JP Morgan Chase.
  • Best for Startups: Fundera.

Which bank is best for PPP loan?

Below are highlights from some of the top PPP approved lenders:
  • JPMorgan Chase ($29.35 billion loaned) ...
  • Bank of America (BofA) ($25.56 loaned) ...
  • BMO Harris ($4.84 billion loaned) ...
  • Cross River ($6.55 billion loaned) ...
  • Wells Fargo ($10.60 billion loaned) ...
  • Best PPP Lenders.

Is Blueacorn PPP forgivable?

Self-Employed People Get Automatic PPP loan Forgiveness - In light of latest PPP guidelines, self-employed people and independent contractors now get the whole loan forgiven automatically.

What bank does Blueacorn use?

BLUE ACORN, LLC is in the Custom Computer Programming Services industry, has a $1,000,000 - $2,000,000 PPP loan from United Community Bank, and has potentially retained 121 jobs.

How do I get in touch with Blueacorn PPP?

If you are trying to reach regarding your PPP application, you can do so at or via

Will there be a third draw PPP?

A third round of Paycheck Protection Program (PPP) loans was authorized by the passage of H.R. 133: Consolidated Appropriations Act, 2021 into law on Dec. 27, 2020. ... Business owners can still apply for an EIDL loan but PPP loans are no longer available.

What is the deadline for PPP loan forgiveness 2021?

If you got a Paycheck Protection Program loan during the first draw, your deadline for applying for forgiveness is August 30, 2021. The applications for forgiveness are made through your lender or through the PPP Loan Forgiveness Portal opened by the Small Business Administration.

What are the rules for the second PPP loan?

Certain businesses with more than one physical location: A business concern that has more than one physical location and employs not more than 300 employees per physical location is eligible to receive a Second Draw PPP Loan if it otherwise meets the eligibility criteria and either (a) it is assigned a NAICS code ...

What is the easiest SBA loan to get?

SBA microloans, which are some of the easiest SBA loans to get approved for, range in size between $500 and $50,000.

Is chime accepting PPP loans?

We're unable to accept business transactions, including deposits and loans for business use. Any SBA or PPP loan will be rejected and sent back to the IRS.

Who is not eligible for a PPP loan?

First Draw PPP Loan If You Have No Employees

(If you are using 2020 to calculate payroll costs and have not yet filed a 2020 return, fill it out and compute the value.) If this amount is over $100,000, reduce it to $100,000. If both your net profit and gross income are zero or less, you are not eligible for a PPP loan.

Is chime accepting PPP loans 2021?

Yes, indeed, the chime isn't accepting payment protection program loans but it's not entirely true. As you can see right now, blue acorn even told people that they shouldn't use chime and they should change their bank account to get a PPP loan.

Is there still PPP money left today?

The Paycheck Protection Program is over, but there's still aid available for small businesses. The federal government's Paycheck Protection Program provided small-business owners with just under $800 billion in COVID-19 relief, according to the U.S. Small Business Administration.

Is PPP money still available?

As of 5/31/2021 the SBA has disbursed $800 billion of the $813.5 billion so far appropriated by Congress to this program. As of Round Three, $6 billion, or 2 percent of Round Three PPP funding, remain available to the program.

Can I get first and second draw PPP?

Applying for a First and Second Draw in the Same Round

If you received your PPP First Draw in 2021, you may be eligible to apply for a Second Draw before the program expires on May 31.

How is PPP second draw calculated?

If payroll is being run, take line 7 and subtract the payroll costs in lines 14, 19, and 26. Use a maximum of $100,000. Divide this number by 12 and add it to your average monthly payroll expense. Multiply by 2.5 to find your PPP loan amount.

How long does Blueacorn take to get approved?

With these additional procedures in place you can expect a total process timeline (from application to funding) of approximately 21 days on average. If you would like additional support or would like to withdraw your application you can do so easily by going to and creating a ticket.