Keybank SBA PPP Loan Application Denied

As the SBA PPP loan money is quickly running out, we have learned of $61B in PPP loans approved, biggest two industries are Construction at $9B and Manufacturing at $7B. SBA has increased customer service reps from 300 to 2,700. If you are in a different industry, you may find that you are at the bottom of the stack of applications.

You will want to get your Keybank SBA PPP loan submitted as soon as you can because it is possible they will be closing the intake forms very soon. On Sunday, April 5th, 2020 around 10:00 pm est Wells Fargo closed their intake forms due to fulfillment.

We understand that once you have been approved for the Keybank SBA PPP loan program you or your lender will get a SBA ETRANS number or assignment/commitment number that will guarantee you the money. When that amount will actually be in your business Keybank bank account is another story altogether. This is a very fluid situation and things are changing hour by hour. 

Keybank is still showing errors to applicants as of April 5th, 2020. The error is a 467 error and it asks applicants to call Keybank at 1-866-424-6578.

Get up to the second PPP loan information here.

President Trump explained the SBA PPP loan program is way ahead of schedule. Many looking for KeyBank SBA PPP Loan money to cover payroll would disagree.

Here is a tweet from someone that works for a bank:

“When am I going to get the SBA PPP loan money to make payroll? When is it going to be in my business bank account?!?” We have been hearing this for the last 48 hours. Unfortunately, it looks as if most banks and credit unions have yet to get the money to their business customers. Comment below with your story so we can get the word out.

Find more information on the KeyBank SBA PPP loan program here.

UPDATE: President Trump recently announced he will go back to Congress and ask for more money when it runs out with the PPP program. If you have been denied or unable to submit an application to the KeyBank SBA PPP loan program do not give up. Keep working hard to keep your business alive.

Here is a success story from KeyBank:

If you are in Oregon and run a small business, you may be hoping to apply for the SBA PPP Loan in which your payroll will be forgiven. Unfortunately, it looks as if the KeyBank SBA PPP Loan application is not available.

If you are a small business in Oregon, Ohio, Florida, Colorado or Connecticut and you are struggling to get the PPP loan to make payroll and pay rent in April 2020, please comment below and tell us your story. Hopefully we will be able to help people get a payroll protection loan that is forgivable.

Keybank has locations in Alaska, Colorado, Connecticut, Delaware, Florida, Idaho, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Utah, Vermont, Virginia, Washington, D.C. and Washington. This means the small business owners that are applying for payroll protection cover the entire spectrum of businesses in the United States. Restaurants, bars, hotels, real estate and rental companies, dentists, orthodontists, car dealerships, churches and more will look for financial assistance through the government at this time.

1 reply on “Keybank SBA PPP Loan Application Denied”

Over 25 year US Bank customer. When I texted him that a friends company at chase already had approval for the ppp loan, he told me to go to chase then. Us bank is only taking apps for single owner companies right now. What!!??

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