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Is Chase Bank Doing PPP loans?

Author

Charlotte Adams

Published Feb 23, 2026

Is Chase Bank Doing PPP loans?

May 01, 2020 JPMorgan Chase announced today that it has received approval for an additional 211,000 loans through “Round Two” of the Paycheck Protection Program (PPP), totaling about $15 billion to its small business customers. About 50% of the loans went to companies with fewer than 5 employees.

Keeping this in consideration, is Chase processing PPP loans?

May 01, 2020 JPMorgan Chase announced today that it has received approval for an additional 211,000 loans through “Round Two” of the Paycheck Protection Program (PPP), totaling about $15 billion to its small business customers.

Beside above, is the PPP loan available now? Notice: Paycheck Protection Program closed August 8, 2020

Current law dictates that the Paycheck Protection Program (PPP) close at the end of August 8, 2020. As such, SBA is no longer accepting PPP applications from participating lenders.

Accordingly, are any banks accepting PPP loan applications?

Bank of America is accepting PPP loan applications. To qualify, you must have a small business relationship that predates February 15, 2020. This major bank will only take applications online. You can start the process here.

Is Chase accepting PPP applications?

After the SBA makes the program available, we'll begin accepting new PPP loan applications. To apply through Chase, you will need an active Chase business checking account. If you don't have one, you can apply here or go to a branch.

Can a PPP loan be denied?

PPP loans are designed to cover payroll-related costs and other select operating costs. If your PPP loan forgiveness is denied, contact your lender. You can request the SBA review a lender's decision denying forgiveness within 30 days of the denial.

Why did my PPP Loan get denied?

If you were denied PPP loan funds, you might want to review your PPP application for possible errors. For example, one number off on your Employer Identification Number could automatically deny your application. Make sure your application is forthright. Others prefer to lend to companies that want larger loans.

How can I get my PPP loan forgiven?

Use the following tips on how to make sure your PPP loan is forgiven to get started:
  1. Use it for eligible expenses.
  2. Keep your employee headcount up.
  3. Don't reduce an employee's wages by more than 25%
  4. Document everything.
  5. Talk with your lender.
  6. Apply for loan forgiveness.

How is a PPP loan forgiven?

Forgiveness for self-employed individuals

You are eligible to claim 2.5 months' worth of your 2019 net profit to replace pay. If you didn't have any other payroll expenses factoring into your PPP loan amount, this means that your entire PPP loan could be forgiven for the 24-week period.

When can I request PPP forgiveness?

A borrower generally may submit a loan forgiveness application any time on or before the maturity of the loan—including before the end of the covered period—if the borrower has used all of the loan proceeds.

What type of loans does Chase Bank offer?

Chase does not offer personal loans, despite being one of the biggest banks in the U.S. They do participate in other types of lending, however, offering credit cards, mortgages, home equity lines of credit, auto loans and business loans.

What is the deadline for PPP loan forgiveness?

The SBA has not set a deadline to apply for forgiveness, but you have 10 months after the end of your covered period before you'll be required to start making monthly payments.

Which bank is best for PPP loan?

8 Fintech Companies Offering Paycheck Protection Loans
  • BlueVine. BlueVine, an online lender that has processed more than $3 billion in loans since its founding in 2013, has begun accepting PPP applications.
  • Funding Circle.
  • Intuit QuickBooks.
  • OnDeck.
  • PayPal.
  • Ready Capital.
  • Square.

What lenders are still accepting PPP applications?

Are these SBA Preferred Lenders accepting new PPP applications?
LenderStates servedAccepting new PPP applications?
Ameris BankAlabama Florida Georgia South CarolinaNo
Atlantic Capital BankAll 50 statesYes — must contact a banker directly
Bank of AmericaAll 50 statesYes — online
Bank of GeorgeNevadaYes — by appointment only

Can I apply for a PPP loan online?

You can apply online in minutes and get the relief funding you need as soon as possible. Both existing customers and new customers are welcome to apply.

How do I know if my PPP loan is approved?

3 Ways To Check Your PPP Loan Status
  1. You must sign in with your Small Business Online Banking account or sign into the CashPro® service.
  2. After completing the application process, you will receive online confirmation of the submission.
  3. Bank of America will process your application as soon as possible.

How long does it take to get a PPP loan approved?

Once an applicant is approved, the program requires that they receive the money within 10 days but that doesn't always happen, Kassar says. While some approved small business owners have gotten the cash in two or three days, others waited up to two weeks or are still waiting.

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