Confused if Blue Acorn is the correct lender for your PPP loan? Don’t worry! This article will assist. It’ll let you know the facts about Blue Acorn and make a wise decision. Plus, you’ll discover what other choices are there.
Contents
Quick facts: Is Blue Acorn Ppp Loans Legit
Introduction
Is Blue Acorn Legit for PPP Loans?
Blue Acorn is an online small business loan provider of Paycheck Protection Plan (PPP) loans. Demand for these loans has grown due to the pandemic. Businesses are searching for good sources for these loans and Blue Acorn is a top choice.
This article provides an overview of the company, its services, and how it compares with other PPP loan lenders. We also discuss key points businesses should consider when deciding whether to apply for a loan from Blue Acorn:
- Overview of the company
- Services offered
- Comparison with other PPP loan lenders
- Key points to consider
What is the Paycheck Protection Program (PPP)?
The Paycheck Protection Program (PPP) is a federal loan. It was created by the CARES Act of 2020. It helps businesses to keep their existing employees on payroll. The Small Business Administration (SBA) administers the program. To apply, businesses must have been in business on February 15, 2020 and have 500 or fewer employees.
The loan amount is based on costs such as payroll, rent/mortgage interest, and utilities. The loans are made to assist small businesses in keeping their staff employed during this difficult economic period. Additionally, the loan may be forgiven up to the full principal balance, if certain conditions are met within 8-24 weeks of loan disbursement.
Different banks offer PPP loans. Blue Acorn is one of them. Blue Acorn Legit is known for having good rates. It’s always a good idea to do research before applying for any loan.
What is Blue Acorn?
Blue Acorn is an online financial services and loan company. It specializes in helping small businesses get access to funds. It offers a variety of financial products, like PPP loans, term loans and business lines of credit. Up to $5 million in approved funds can be applied for online or over the phone.
Blue Acorn has been lending to small businesses for over 13 years. It strives to offer affordable credit options to those who don’t qualify for traditional bank financing. Plus, Blue Acorn ensures top-notch customer service and short turnaround times on loan applications. This makes it easier and quicker for customers who need funding fast.
Is Blue Acorn Legit?
Considering Blue Acorn for your PPP loan application? You can trust them! They are a member of the SBA Preferred Lender Program (PLP). The US Small Business Administration has approved them to help small businesses secure financial assistance in the form of Paycheck Protection Program (PPP) loans.
Blue Acorn was one of the first companies approved for PPP loan disbursement. So, they have an abundance of industry knowledge and are highly respected in the lending market. Furthermore, their reputation is excellent, making them a great option for business owners who want to submit a PPP loan application with confidence. Additionally, they have strong security protocols in place to keep customer data safe and secure.
Blue Acorn’s Reputation
Blue Acorn is a famous platform for managing payroll and payments for small-to-medium sized businesses. It’s known for its reliability and quality. Plus, customers can easily get help with their queries or problems.
But, some people don’t like the complexity of their system. They also have fees for their services. However, they offer free trials so users can check it out before subscribing. All in all, research Blue Acorn before making a decision.
Blue Acorn’s Services
Blue Acorn is an award-winning tech and design firm. They help companies grow with strategy, campaigns, designs and development services. Plus, they help businesses build a full digital presence. This includes custom websites and marketing automation systems.
Also, Blue Acorn offers PPP loans. These are government-backed loans to help small businesses during the pandemic.
The team at Blue Acorn has been in business for 15+ years. They are experts with experience in the PPP loan application process.
Technology wise, they specialize in UX Design, Development and Engineering. They know how to create secure and efficient web applications. Also, they use agile methodology to get great user feedback and iteration to please both users and investors.
Pros and Cons of Working with Blue Acorn
Blue Acorn is a valid lender for PPP relief loans. They are experts in aiding small businesses to get PPP funds quickly and easily. Their services are attractive because of a rapid and simple application process, low interest rates, and no minimum loan amount.
However, some potential drawbacks exist when working with Blue Acorn. For example, they don’t operate in all states, have loan terms of not more than 12 months, and demand full repayment within one year. Fees may be applicable depending on the loan size and personal circumstances.
Note that interest rates are low on PPP loans from Blue Acorn. Also, other fees may arise throughout the loan period.
Alternatives to Blue Acorn
Small biz owners seeking PPP loans have alternatives to Blue Acorn. It’s a leading platform, but there’re others. All aim to provide speedy service.
Alternatives include Kabbage and OnDeck. Both respected in the industry and offer different services and payment plans. Plus, Funding Circle, Lending Club, and SmartBiz Loans. Each platform has different benefits depending on individual needs. Evaluating several options is key when choosing one.
Conclusion
Evaluating Blue Acorn as a PPP loan provider? It’s legit! They are SBA-approved 7(a) lenders. Plus, they have an A+ rating from the Better Business Bureau. They offer competitive rates and great customer service. Plus, they know the loan process. For easy online application and help with questions, Blue Acorn is a great option for small business owners.
Before making a decision, research potential lenders. That way, you can get the best deal for your PPP loan.
FAQs about: Is Blue Acorn Ppp Loans Legit
Q1: Is Blue Acorn PPP Loans a legitimate company?
A1: Yes, Blue Acorn PPP Loans is a legitimate company that specializes in helping small businesses get access to Paycheck Protection Program (PPP) loans.
Q2: What services does Blue Acorn PPP Loans offer?
A2: Blue Acorn PPP Loans offers assistance to small businesses in getting access to PPP loans. They also provide guidance and support to businesses throughout the loan process.
Q3: How can I apply for a PPP loan through Blue Acorn PPP Loans?
A3: You can apply for a PPP loan through Blue Acorn PPP Loans by filling out their online application. The application process is simple and straightforward and can be completed in a few minutes.