I Cannot Get My PPP Loan – What Now?

The PPP loan is increasingly important even as the latest covid crisis winds down and at least some people are able to get back to work. Far too many people have had to rely on payday loans, instant cash loans, and other emergency loans just to get by during trying economic times.

More people still are looking for their PPP loans as part of their incomes, and are dependent on those checks just to get by financially. When they are not capable of getting the PPP loans or the PPP checks that they have been promised, it puts them into yet another financial crisis that once again they will have to dig themselves out of some other way

The PPP is more accurately known as a Paycheck Protection Program and was implemented in order to assist people in surviving during the lockdowns, quarantines, and other government responses to the covid crisis.

Unfortunately, not everybody is going to qualify for the PPP Loan Program, and not everyone is going to get a PPP check to allow them to balance out their books and bank balances. Moreover still, most of the people that do receive their PPP checks will still not have enough to dig themselves out of the holes they are in because of the government response to the covid crisis.

It needs to be noted that the Paycheck Protection Program ended on the last day of May in 2021 and there are not any new PPP loans or PPP checks coming out any time in the foreseeable future. It should also be said that if you have not received any relief from the PPP loans by now, that you are not likely going to receive any, and should remove those funds from your personal budget.

In what seems almost ironic in some ways, most of the people working with the PPP loans now are still striving to get debt forgiveness because despite the help, they are still unable to get back on their financial feet and still cannot pay off their PPP loans.

There is still at least some talk that the Paycheck Protection Program may still be re implemented, but there is nothing definitive on the books yet, and again, it would probably not be a good idea to start counting on that money now.

If and when the program is started back up, that still does not mean that you will suddenly become eligible for emergency cash relief, no matter what financial hardships you are facing, and no matter how directly related it may be to the government covid response.

The Small Business Administration offers a great deal of information about the Paycheck Protection Program Loan forgiveness. Their pages are full of data regarding the PPP and what it was supposed to accomplish.

Somewhat less easily found is a section regarding the forgiveness of PPP Loans for those that were able to obtain them in order to assist with the financial losses that were incurred by the government covid responses.

As is generally the case with any government programs, it can be challenging to meet their requirements for loan forgiveness without meeting certain criteria that many of the people are not going to comply with, not so much because of choice, but merely due to circumstances beyond their control.

So what are these people going to do if they discover that they are now indebted to an assistance program, and have no capacity to pay off the loans in full. Is there financial recourse now available and can it provide the assistance people need in order to pay off debts owed to people who loaned them money ostensibly to help them, even though it has created as much of an added challenge as it has benefits?

It is well known that the instant cash loans and other payday loans are not the ideal solutions for long-term, grand loans such as home mortgage loans or even new and used car loans. It may be that if you have accepted the “assistance” from the Paycheck Protection Program or PPP loans, and are now in a position where you need to try to find a means to alleviate the issues of debt, there need to be additional options.

Not everyone who applies for PPP loan forgiveness will be forgiven their debts, and it is imperative that they have at least some means to survive economically and financially. If you are in a financial fix, and your family is at risk of going hungry, or your capacity for getting to and from work is endangered, there needs to be an immediate solution available for those times and occasions when you need to find money now.

There is definitely a time and place for government support and assistance programs. There are times when people have a legitimate need for disaster loans, emergency loans and other support. Government loans that are designed to assist people in times of crisis that directly result from the government actions may be necessary as well. There still needs to be some way to get debt relief and to ensure the ability of the individual and the family to survive while they put their lives back in order.

Any time that you need money now, and your very survival seems directly related to your ability to find cash immediately, there are always going to be some options, though even then you need to be cautious any time you are borrowing money.

This is just as true for the government PPP loans and the Instant Cash Advance loans you may get from local direct lenders. Debt forgiveness is never guaranteed, even in terms of government guaranteed loans that you can get directly from the government. Always remember that any time you need to find money now, there are places like this where you can always get the best deals for instant cash loans and get your money the very same day, and more importantly, find payment options that meet your personal loan requirements.