PPP Loan Customer Service
PPP Customer Service
This page provides access to service to current 2021 PPP 1st draw and 2nd draw applicants/borrowers; as well as 2020 PPP borrowers who received and spent their loans. The 2020 and 2021 programs and customer service systems are separate and distinct. Customer assistance agents from one program cannot help with the other. FAQS are provided below to help with 2021 PPP3 loan questions and a form is provided below to help you with your 2020 PPP loan.
PPP Loan Forgiveness
If you have a 2020 PPP1 or PPP2 loan you should have been contacted by our partner Crowe LLC about filing your loan forgiveness application. You have 10 months following the end of the covered period, but that time is now waning before monthly principle and interest payments are required to start for many borrowers.
At this time, Customers Bank is not equipped to take forgiveness applications for 2021 PPP3 loans, whether they be first or second draw. There are no new FAQs from the SBA regarding forgiveness, so we are working with our partners to prepare an application and documentation process. Don’t worry – the payment requirement does not start for between 12 to 16 months depending on your chosen covered period.
When we are ready to accept loan forgiveness applications, you will be notified via email using the email on file with your application on how to submit the application form and supporting documentation. No action is required by you at this time.
As with PPP1 and PPP2, borrowers have 10 months following the end of the covered period (an 8-week minimum) in which to submit the forgiveness application, so there is no rush.
FAQs for 2021 PPP3 Loans
How can I receive my loan documents and SBA number?
Your loan documents and SBA number, also known as the PLP or Loan number, can be found within your loan vendor portal.
If your loan vendor is SmartBiz please see the directions provided below:
We do not have access to the SmartBiz portal ourselves but the dashboard now allows all clients to access and download loan document on which the PLP (SBA/Loan Number) can be found. Please read below for step-by-step directions:
After logging into your SmartBiz Loan account, you will see a new section in the upper right of your dashboard entitled “My Documents”:
- Click “My Documents” to see your funded PPP loan(s).
- Click the download icon to the right of “Signed Loan Document Package”.
- You will then see a screen asking for a code. The code will have been sent to the same email used to sign in with.
- Enter the code.
- Click the blue button “Download File”.
- Your signed PPP loan documents will open in a new browser window and you will be able to download as an Adobe PDF. Note: You may need Adobe PDF Reader, or another pdf reader program to view, depending on which browser you are using.
The SBA money ran out and I have a second draw loan application. Will I get funded?
If you already have an assigned SBA/PLP Number than there are funds reserved for you. Your loan will still proceed through the pipeline per usual. The SBA running out of money just inhibits providing NEW SBA numbers.
Where is my Loan in the Process?
Funding at Customers Bank is a process that takes time more than it is a final event: this is because it includes fraud reviews, cybersecurity measures, and other steps designed to ensure that the right borrower gets the right funding amount in the right bank account. This stage begins after your loan documents are signed and your loan vendor submits them to Customer’s Bank for funding. For a variety of reasons, that process is currently taking 15-20 days. Moreover, the national ACH system does not operate on weekends or holidays, and your bank gets to hold the funds upon arrival — we have no insight into them doing so, or for how long. We hope this additional detail can help provide more color into the PPP funding process.
In the occasion that it has been more than 25 business days since signing your loan documents, please reach out to [email protected] Please note, due to the high level of inquiries, if you reach out to this email inquiring about a status and your loan documents were signed less than 25 business days ago, we will not be able to provide a more accurate status than above.
I had an ACH Return or put the wrong account and routing information on my loan documents:
As a part of our funding process, we are only able to make these changes upon notification of ACH return. If you experienced an ACH Return or realize the account and routing information on your loan documents is incorrect, you will hear from a member of your loan vendor ACH return team to remediate this. Once the changes are remediated with your loan vendor, new loan documents will then be drawn up and the funding process will resume.
Where can I apply for forgiveness?
The forgiveness portal is open for 2020 loans but not yet open for 2021 loans. When the 2021 loan portal is open, you will receive communication from your loan vendor.
Borrowers have until 10 months after the conclusion of their “covered period” to apply for forgiveness. The cover period begins the day the funds are received and continues for a minimum of 8 weeks. Following that, the lender has 60 days to review the application, after which the SBA has 90 days for review. If the loan is not fully forgiven, payments will begin AFTER that time.
Additionally, not having a first draw loan forgiven does NOT affect any second draw loan applications or statuses.
I want to cancel my loan:
If you have not yet been funded and would like to cancel your loan, please email [email protected] Please note that after a member of our team confirms that you loan has been canceled; the SBA system may take 24-48 hours to “catch-up” to a cancellation. This is due to system limitation integrations and the SBA’s method of updating their databases. We understand this can cause frustration, but there is nothing we can do on our end. Another lender may be able to contact the SBA to confirm the loan is cancelled.
If your loan has been funded and you would like to cancel your loan, please contact Windsor at [email protected]. Windsor will provide a payoff letter and payment instructions to wire your funds back.