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Otherwise, SBA’s application system would approve the application as soon as the lender submits it. So Lendio and Kabbage, who is going to fund your loans? There are two reasons I'm not giving 5 stars-- The process took quite a long time and Lendio kept changing the manager in charge of my account. I submitted my PPP application to a bank I … My company is in a unique situation that affected my ppp results greatly and it was a little challenging to keep bringing the new person up … “At times being the business adviser is to be dealing with these unknowns.” The full Feb. 18 AICPA Town Hall can be viewed on AICPA TV. To date, Lendio has facilitated more than $8 billion in PPP loan approvals for more than 100,000 small business owners across the country. And, if you were one of the many businesses to be denied, you may have had to go through the process multiple times. ... Lendio has facilitated more than $10B in funding. Lendio is not a direct lender. Lendio is the nation’s largest small business lending marketplace, helping more than 31,000 small business owners find funding and facilitating more than $2 billion in small business loans. Many folks are pointing to Lendio and Kabbage as being open for business and processing PPP loans. In the first weeks of the PPP, Lendio launched digital PPP loan applications for more than 250 financial institutions through a strategic partnership with Jack Henry & Associates, Inc., a leading provider of technology solutions and payment processing services for the financial services industry. So far, in this latest PPP round, the SBA has processed 2.2 million loans through 5,100 lenders, totaling $156 billion. I am highly skeptical. The Paycheck Protection Program (PPP) is about to be back in business. The only time SBA would deny an application is if the borrower had either a delinquent or default status on a prior SBA loan. Qualifying small businesses and nonprofits will now be able to apply for the potentially-forgivable loans through May 31, 2021. In my opinion, your applicants deserve to know. The extension also comes with an added provision that allows the U.S. Small Business Administration some processing time. Save time. It's official: Congress has passed an extension to the popular Paycheck Protection Program (# PPP)! Lendio and Ready Capital Fail to Fund Round 1 PPP Loans On Time. Lendio had the 15th most volume with PPP loans — and also the smallest average size of loans. 5 reasons to apply for a PPP loan through Lendio #1. Taking apps and having a home for them and balance sheets to fund them from are two very different realities. If you went through the application process for the first PPP loan, then I don’t need to tell you how long and arduous it was. Due to this increased scrutiny, lenders and the SBA now have less time for processing the legitimate PPP loan applications. 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