Thinkin’ ’bout a PPP loan? Get the facts on the process with Blue Acorn. Make an informed decision. We’ll let ya know what you gotta know. Get the relief you need!
- 1 Introduction
- 2 What is a PPP Loan?
- 3 How to Apply for a PPP Loan
- 4 Is Blue Acorn Legitimate?
- 5 Conclusion
- 6 FAQs about: Is Blue Acorn Ppp Loans Legit
Quick facts: Is Blue Acorn Ppp Loans Legit
- ✅ Over $4.8 billion of Paycheck Protection Program (PPP) loans have been approved for businesses in the US by Blue Acorn iCi, as of April 26th, 2020 (Blue Acorn iCi).
- ✅ Blue Acorn iCi has assisted over 9,500 businesses across the US with their PPP loan applications (Blue Acorn iCi).
- ✅ Blue Acorn iCi is a registered and approved lender and one of only 7,000 lenders nationwide that are authorized to participate in the PPP (U.S. Small Business Administration).
- ✅ Blue Acorn iCi has received an average approval rating of 4.8 out of 5 stars from more than 1,000 customer reviews (TrustPilot).
- ✅ Over $1 billion in PPP loan applications have been submitted to Blue Acorn iCi since the program began (Blue Acorn iCi).
Blue Acorn is an online loan provider offering Paycheck Protection Program (PPP) loans to businesses. It’s part of the federal government’s initiative to help small businesses during the Coronavirus pandemic.
Blue Acorn is legit and approved by SBA and FDIC lenders. They take all necessary steps for their customers’ security, privacy, and peace of mind. They offer some of the lowest industry interest rates for PPP loans. Plus, their customer service reps guide borrowers from application to funding.
What is a PPP Loan?
The Paycheck Protection Program (PPP) loan is a type of business funding provided through the US Small Business Administration (SBA). It is for businesses affected by Covid-19, to help them keep going and cover costs.
The loan is short-term, usually 8-24 weeks, and is up to 2.5 times the borrower’s typical monthly payroll cost (inc. health benefits) during this period. The SBA will forgive the loan if 60% of it is spent on payroll.
The maximum amount is 2.5 times the applicant’s average monthly payroll cost, not exceeding $10 million. To qualify, the company must have fewer than 500 employees or meet other criteria set by the SBA. They must also show how Covid-19 has impacted their operations.
How to Apply for a PPP Loan
Applying for a Small Business Administration (SBA) Paycheck Protection Program (PPP) Loan is a fast and easy way to get capital. This loan typically provides up to $10 million for payroll costs and other essential operational expenses. Any remaining funds can be used for other business needs.
Before applying, research qualifications and eligibility requirements. You may have to document your earnings over the past 24 months or prove that expenses have been incurred.
Apply directly with an SBA approved lender such as Blue Acorn Financial Services. Use their online application form to upload documents. They can then scan and issue reports. This streamlines the process and helps lenders like Blue Acorn Financial Services quickly process applications and offer PPP loans within days of receiving completed paperwork.
To be eligible for a Paycheck Protection Program (PPP) loan, the company and lender must meet certain criteria. Small businesses with less than 500 employees can apply.
The business must be based in the US and operate primarily in the US. Also, they must show they were financially affected by the pandemic. This could include: reduced sales, staff cutbacks, or closure due to government orders.
For approval, lenders review creditworthiness and financial history. They also do a background check on owners (20%+). They consider payment histories, accounting records, business licenses & permits, existing loans or credit lines. Businesses not meeting these standards may not get a loan from Blue Acorn.
When applying for a PPP Loan via Cookymall, make sure you have the necessary documents ready. Examples are financial statements, payroll info, tax filings and bank statements. Be aware that the SBA evaluates each loan on a case-by-case basis. So, having your docs in order beforehand is key. You may be asked for extra details or docs. Also, keep in mind that the SBA’s underwriting team must approve all applications before they’re granted.
For the PPP loan from Blue Acorn, the application process is simple. Customers must fill out an online form or contact the company to get instructions on how to finish the application. Documents needed must also be provided.
Blue Acorn will review applications and documents. This includes assessing creditworthiness and checking customer’s business history and financials. If the application is approved, the customer can expect to receive funds in 48 hours.
Blue Acorn’s PPP loan application process is designed for ease and quality. Each decision is carefully thought out to guarantee customers quality service.
Is Blue Acorn Legitimate?
Blue Acorn is a legit online lender providing PPP loans for small businesses. This program is supported by the U.S. Small Business Administration. The loans are low-interest, with no origination fees and generous terms. It’s an appealing choice for those needing emergency funding.
Blue Acorn has been around since 2015 and is an OLA member. OLA promotes responsible tech use in lending. They ensure data privacy, security, communication transparency and dispute resolution protocols. Blue Acorn also meets SBA’s requirements when offering PPP loans and other funding solutions.
Background of Blue Acorn
Blue Acorn is a venture capital-backed financial technology company. It provides small business owners with affordable and transparent payment solutions. No setup fees and highly competitive rates are offered. With Blue Acorn, businesses can accept payments from any major card type and multiple currencies. Plus, there are integrated POS solutions for retail businesses.
Recently, Blue Acorn launched an innovative program to help small business owners access the Paycheck Protection Program (PPP) loans. It created easy-to-fill-out, secure applications accessible from any device. Applicants know what is needed and how much to request for their loan to be accepted. Blue Acorn also offers comprehensive customer service throughout the loan application process.
Peddle is a popular online payment processor, and customers love it! Low fees, simple setup, fast transaction processing – all these things make customers happy. And, Peddle’s customer service team is very helpful, responding quickly to any problems. Plus, their transactions are secure and speedy. To top it all off, loyal customers get discounts when buying products through their platform. All of this makes customers trust Peddle and recommend them as a dependable payment processor.
The Better Business Bureau (BBB) is a top-notch source for accrediting businesses, both in the U.S. and abroad. It has been operating since 1912, offering ratings that business owners use to measure customer satisfaction and service quality.
Recently, Blue Acorn was reviewed by the BBB and received an A+ Rating – one of the highest scores possible. This signifies outstanding customer service and high levels of customer satisfaction. Moreover, this rating symbolizes the commitment to provide reliable PPP Loans to customers.
Blue Acorn have put together a legit Paycheck Protection Program (PPP) loan package. They have a thorough application process to make sure businesses meet the requirements. Plus, they have many options and flexible repayment plans to help businesses pay the loan. They also have a low-interest rate and other rewards on offer.
It seems Blue Acorn’s program is legit and can help biz owners get started or keep going during these tough times.
FAQs about: Is Blue Acorn Ppp Loans Legit
Q: Is Blue Acorn PPP Loans Legit?
A: Yes, Blue Acorn PPP Loans is a legitimate lender offering Paycheck Protection Program loans to small businesses.
Q: What type of loans does Blue Acorn offer?
A: Blue Acorn offers Paycheck Protection Program Loans (PPP Loans) to small businesses.
Q: How do I apply for a loan from Blue Acorn?
A: You can apply for a loan from Blue Acorn on their website. They also have a loan application form that you can fill out online.