Is Blue Acorn PPP Loans Legit? Application and forgiveness process
In April 2020, the U.S. government initiated the Historic Payroll Protection Program termed as PPP for Banks. It provides financial assistance to small businesses battling the COVID-19 pandemic. A whopping $659 billion has been pledged twice for the PPP. The amount was $349 billion of primary funding disbursed within two weeks. However, in the second round, as large corporations repaid their loans following public protests, circulation decreased, and small businesses. They were hesitant to apply due to complex requirements and unclear loan forgiveness guidelines. At the end of the program, on August 8, 2020, $134 billion remains unused.
Blue Acorn is an eminent administration company and has newly merged technical and financial expertise to streamline the PPP application process for small businesses, sole proprietors, and independent contractors. Blue Acorn is an American company that helps people apply for PPP for free. However, many negative reviews about the Blue Acorn PPP loan consider it a scam. Today I will introduce this company and share an online Blue Acorn PPP loan review to help you determine if it is legitimate or a scam. Let’s continue reading!
What Do You Need to Know About Blue Acron?
Blue Acorn is a company that helps people get PPP loans quickly and easily. Here PPP stands for Payroll Protection Program. PPP loans are approved by US Small Business Administration (SBA) vendors. Many other companies are also functioning with Blue Acorn, such as the Arizona Commerce Authority, Arizona Latin American Chamber of Commerce and many more. Blue Acorn can help you process your loan application and get a loan with no fees.
Is Blue Acron PPP Loan a Scam?
Blue Acorn PPP Loans is not a scam. It is a legitimate company with very poor customer service. Also, file processing is very slow. It may take 30-45 days to process your files. Therefore, many job seekers believed that Blue Acorn PPP Loans were scams. Also, people think Blue Acorn PPP Loans are a scam because they use too much personal information to apply for a loan.
What Do Users Think About Blue Acron Loan System?
On Trustpilot, more than two-thirds of Blueacorn reviewers gave the company a “bad” rating. As of April 26, 68% of Trustpilot user reviews for Blueacorn rated the company as “Bad”, the lowest rating on the site. That day, one reviewer on the site wrote, “This place is absolutely a scam.” “If you’re in business, stay away.”
Another reviewer the day before wrote: “I was charged March 21, approved March 26, received funding April 6, but accidentally Chime turned down my loan and said it was returned to the borrower. When I look up the loan number on the SBA website, it says that the loan has already been paid. I don’t have anything. Me, zero, zip, zilch, no funds at all. However, I am responsible for repaying the outstanding loan. I don’t think so. Forget it. I’ll take it to the SBA.”
There are mixed opinions about the Blue Acorn PPP loan. There are both positive and negative reviews. However, the number of negative reviews outweighs the positive reviews. But let’s see what our clients have to say about Blue Acorn PPP loans.
Do Users Have Any Positive Reviews for Blue Acron?
According to one customer’s review, he said that “I had to wait a while to receive the funding, but I was grateful to receive the funding! There was a problem with my forgiveness statement and the Blue Acorn support team continued to contact me to help resolve the issue. Thanks, Blue Acorn! ”
Another customer posted positive comments about Blue Acron that “When I applied for a PPP loan, I had many doubts and a lot of scams, but I had a very good experience of communicating with anyone because I trusted and helped Blue Acorns. They were very helpful throughout the whole process. I would recommend this to friends and family any time of the week. have a good day. Hope this helps.
One said, “That’s a minus about the stars’ stuff!” Gaila, put me in the lawsuit! Blue Acorn destroyed my chance to get my business back and pushed me into a difficult spiral that I would have avoided if I had gotten my loan from them, as advised by my SBA. I need help dealing with this, and you also know that dealing with these people will get you nowhere! ”
How to Apply for a PPP Loan on Blue Acron?
To receive a PPP loan, you must apply through Blue Acorn. How to apply for Blue Acorn is as follows.
- First, open a browser on your computer and visit the Blue Acorn official website.
- Now, enter your registered email address.
- Next, you need to answer some questions the company asks.
- Then, you need to upload the necessary documents.
- Then Blue Acorn will send the application to the bank for the best chance of being considered.
Is Blue Acron Accepting PPP Loans Application, Currently?
According to a recent announcement of Blue Acron, We are currently unable to accept new applications for PPP loans. Because there are large volumes, limited SBA funding, and the upcoming May 31 program expiration. After SBA approves your application, you can be confident about the deposition of your funds safely. If you applied for a PPP loan and have not yet received SBA approval, and we will continue to process your application and notify you of the status.
We know how important it is to maintain the backbone of the U.S. economy. Moreover, they committed that they will support another PPP round to get the funds you need and deserve.
Finally, if you read the reviews above, you must realize that Blue Acorn is a legit business, but their activities or support regarding PPP loans have made them one suspect. There are many complaints about Blue Acorn and its handling of PPP loans. Many people who signed up for Blue Acorn did not find any improvements or updates to their registration form. So, if you have applied for PPP loans through Blue Acorn, feel free to share your experience with us in the comments.