Frequently Asked Questions
about the Paycheck Protection Program (PPP)

If you have questions about a certain aspect of the Paycheck Protection Program, click on the relevant topic below.

Loan Statuses

Started

This application has been started, but it’s incomplete. It hasn’t been submitted to Womply for review. To move the process forward, complete the application and submit it.

To complete the application, select it to start again from your current location in the application.

Womply Processing

This application has been submitted to Womply for review. We’re processing the information you provided. Check your Status Detail to see each part of your application and identify any areas that might need to be fixed.

At this point in the process, if you need to change any information on your application, you will need to cancel and then reapply. To cancel, please log in and then choose the option to cancel.

Please allow 48 hours for the cancellation process to finish. Cancellations are final and cannot be reversed.

Lender Processing

This application has been validated by Womply. It was submitted to an SBA-approved PPP lender. The lender is reviewing your information and will decide whether your application can move forward.

At this point in the process, if you need to change any information on your application, you will need to cancel and then reapply. To cancel, please log in and then choose the option to cancel.

Please allow 48 hours for the cancellation process to finish. Cancellations are final and cannot be reversed.

Lender Processing – Monitor Inbox

The lender is processing your application and preparing to email you DocuSign documents. Monitor your email inbox and spam folder carefully.

After you sign the documents, please make sure you download a copy. We can’t resend this information to you.

Borrower Action Required – Sign Application

This application has been reviewed by your SBA-approved PPP lender. Your review and signature are required.

Check your email inbox and spam folder for an email from DocuSign that contains a link to your application. You must act on your application to move it forward.

For more information, see What to do if you have not received your DocuSign documents.

Sign & Hold

You must sign your Second Draw application via DocuSign. Please monitor your email inbox and spam folder for this document. It will arrive within a few days.

After you sign the document, your lender will hold your Second Draw application until the SBA is ready to accept it. The SBA requires this holding period to ensure that your First Draw loan was received in your bank account, spent on qualified expenses (including payments to yourself), and marked as Fully Disbursed in the SBA’s systems.

This holding period often takes up to 7 days after your First Draw loan arrives in your bank account. The duration depends on factors that neither Womply nor you can control.

After you sign your Second Draw application, your application will immediately move forward. You should not apply for a PPP loan elsewhere during this time. No further action is required from you.

Lender Submitting

Your signed application has been submitted to the SBA for approval.

SBA Processing

This application has been submitted to the SBA for review. The SBA will either approve or decline this application.

We cannot provide a timeline of how long this step will take.

Application Secondary Review

This application is undergoing a secondary review. This may indicate that a problem was reported by SBA.

SBA Approved – Lender Processing Promissory Note

This application has been approved by the SBA. The lender is preparing the promissory note. DocuSign will email you the note so you can sign it.

Borrower Action Required – Sign Promissory Note

The SBA has approved this application. The promissory note requires your signature.

Check your inbox and spam folders for an email from DocuSign. You must review and sign your promissory note to move this application forward. Download a copy of the DocuSign document for your records. We can’t resend this information.

To avoid delays, check your application Status Detail to ensure your bank info is complete. Problems with your bank info will delay funding.

For more information, see What to do if you have not received your DocuSign documents.

Lender Funding

This application is in the process of being funded by your lender. If the bank information you provided is valid, you will receive your loan via ACH transfer.

Lenders have up to 20 days after the date the SBA approves your application to fund your PPP loan. In most cases, this funding happens within 2 to 3 business days after you sign your promissory note.

To avoid delays, check your application Status Detail to ensure your bank info is complete. Problems with your bank info will delay funding.

Updated Bank Information Needed

There is a problem funding your loan. You should check that your Funding Instructions are complete and that you have a verified bank account selected for your application. Your application can have this status if your funding instructions aren’t complete OR if your lender attempted to pay you via ACH and had a problem. This may happen if your bank told us they won’t allow your account to receive this PPP loan or if your lender’s attempted ACH payment was rejected. You should check that your bank details are correct, that you have a verified bank account selected on the Confirm Funding page. If you believe a payment was attempted and returned you should provide another bank account because once your bank rejects a payment you cannot receive another payment to that account again. This status can take 1-2 weeks to resolve depending on how quickly you provide the required information.

Borrower Funded

This application has been funded. The lender sent the money to the bank account you provided. Depending on your bank, it might take a day or two before the money appears in your bank account.

If you haven’t received funding 20 days after signing your promissory note, please  contact us for help.

Borrower Action Required – Fix Errors

This application has errors. The information you entered into the web form doesn’t match the information you uploaded. Usually this means the amount of your loan request is higher than we can support with the documents you provided.

You can still upload documents if you believe you might have failed to upload them. To upload new documents, please use the Upload Documents option on your status page.

If you do nothing, we’ll automatically reduce your loan request to the amount that your documents support. If this adjustment results in a loan amount we can serve, we’ll move your application forward. If the adjustment results in a loan that we can’t serve, your application will be cancelled.

Womply Cancelled

This application was cancelled by Womply. Typically this means you didn’t provide sufficient information. Or it means our lenders cannot serve you.

If you want to try again, you can start a new application.

Cancellation Requested

You have requested that your lender cancel your application. Lenders will process this and attempt cancellation with the SBA. This may take a few days to process. In some cases it may not be possible to cancel your application.

Borrower Cancelled

This application was cancelled because you requested cancellation. This action cannot be reversed. If you want to try again, you can start a new application.

Borrower Action Required – Verify Bank Details

This application has an error that you must fix before it can be funded. You must verify your bank account or your identity. If you don’t provide this information, your application might be withdrawn.

To verify your bank account, please follow the instructions in the email you received.

SBA Declined – Fixable

The SBA declined this application. It appears that the reason might be fixable. We’ll contact you for additional information.

SBA Declined – Application Cancelled

The SBA declined this application for a reason that cannot be fixed within PPP Fast Lane. You might still be eligible to apply for a PPP loan with another lender.

SBA Resubmission

Your approved loan is being withdrawn and resubmitted to the SBA for another approval. Here are some common causes:

  • A funding error couldn’t be fixed because of SBA timing rules.
  • Information was missing from your application.
  • A correction needed to be made to your loan.

If you’re approved again, you will need to sign another promissory note and ensure your funding info is correct. You don’t need to take any further action until a new promissory note is sent.

Application Declined

This application was declined. If you believe this was in error you may re-apply with PPP Fast Lane.

Borrower Withdrawn

This application was approved by the SBA, but you chose to withdraw it before you received your funding. Your lender will notify the SBA that you withdrew your application. We don’t recommend you apply through PPP Fast Lane again.

Declined - PPP Ended

The Paycheck Protection Program has ended. This application was not approved by the SBA. Unfortunately, no further action can be taken.

Paycheck Protection Program (PPP) Ended

On May 28th, 2021 the SBA stopped accepting PPP applications because the PPP program ran out of funding. Your application will not be able to move forward unless Congress approves more funding for the PPP program. Please visit fairppp.com to tell President Biden and your representatives you want and need more PPP funding.

Couldn’t find an answer to your question?
Please refer to our main FAQ if you have additional questions.

We no longer support .

Please try using a different browser.