Blueacorn homepage (May 6, 2020)

Summary

This Blue Acorn homepage describes an application wizard that fills out PPP paperwork and sends the loan to the bank, with applying said to take 5 minutes and cost nothing. It says banks prioritized existing customers and larger loans over the people who needed it most. It names the Arizona Hispanic Chamber of Commerce and the Arizona Commerce Authority as supporters and Prestamos as a non-profit CDFI partner. In its questions and answers, it says the CARES Act mandates banks pay Blue Acorn a fee if they approve the loan, and that a fresh round of PPP funding was signed into law on April 24th, with banks resuming processing on April 27th. It also says the first round of funding ran out in 10 days.

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The simplest way to apply for PPP Funding.

Our easy-to-use application wizard fills out the paperwork for you, automatically assembles your loan & sends it to the bank ready for funding, fast.

Apply in 5 minutes for FREE.

Get Started

If you feel misinformed or frustrated, you’re not alone.

The process was confusing. The banks prioritized existing customers and larger loans over the people who needed it most. It wasn’t fair, but we’re here to help make sure it doesn’t happen again, at zero cost to you.

Step 1

Answer Questions

Our step-by-step wizard asks simple questions & auto-fills the application for you.

Step 2

Upload Documents

We tell you the documents we need to complete the loan before it goes to the bank.

Step 3

Secure Funding

We stack your paperwork & send it to the bank, so it has the best chance for approval.

Applying takes just 5 minutes & it’s completely free.

Get Started

We empower of communities.

By giving organizations the tools to better support their members, communities networks can work together to secure funding for their small businesses.

ORGANIZATIONS

The Arizona Hispanic Chamber of Commerce is partnering with us to fight for the funding you’re owed during this government-mandated shutdown.

GOVERNMENT

The Arizona Commerce Authority supports our mission and shares our concern for underserved businesses in our community during this difficult time.

LENDERS

We have multiple banking partners ready to process your loans. Prestamos is non-profit CDFI that has become an ally in supporting our small business community.

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Frequently Asked Questions

Frequently Asked Questions

What documents do I need to get started?

None! To get started, all we need is some basic information to better understand your business. Eventually, we’ll need a few documents to support the loan amount we’re requesting from the bank, but we’ll determine that together and make it easy for you to submit it.

How much does it cost to apply?

Absolutely nothing!

How does Blue Acorn make money?

Our service is 100% FREE because The CARES Act mandates banks pay us a fee, if they approve your loan. That means, we don’t get paid, if you don’t get funded. This ensures we’re working hard for you behind-the-scenes & every dollar you get stays in your pocket, where it belongs.

How long will it take to get my money?

We wish this was a simple answer, as much as you do. On April 24th, a fresh round of PPP funding was signed into law. On April 27th, banks will resume processing and approving PPP loans. As soon as you complete your application on Blue Acorn, we will push your loan through to our banking partners. The process will move quickly from there and we’ll be here to advocate for you and keep you updated every step of the way.

Do I need to pay anything back to the government?

The loan is completely forgiven (you don’t have to pay it back) as long as you follow the guidelines and use the money to keep employees on your payroll for 2.5 months and rehire employees you let go because of COVID-19.

Can new businesses apply?

Yes! As long as you were operating before February 15, 2020 and have supporting documents to prove it, you can apply. If you’re not sure, start the application process and we’ll work together to determine if you’re eligible or not.

Do freelancers and gig workers qualify for PPP funding?

Yes! If you freelance, have a side gig, run a small business or otherwise work for yourself, you can apply for a PPP loan to help make ends meet. The loan is 100% forgiven (you don’t have to pay it back) if you follow the guidelines and use the money over the next 8 weeks to pay yourself and make rent or utility payments, for example. Blue Acorn will guide you through the process and make it as easy as possible to apply & get funded.

How soon can I start?

Right now! The first round of funding ran out in 10 days. As soon as you apply through Blue Acorn, we’ll make sure you’ve secured your spot in line, so you don’t miss out twice.

Partner with us.

We’re calling on Lenders, Accountants, Community Organizations & Influencers to join us in helping underserved businesses access the funding they need.

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