Cab you submit PPP loans at two banks and just take the one approved first?

Our current bank is slow to get rolling (Santander). There is a local bank we could apply with (they’d want us to move our account). Hard to know if better off giving our bank (which days it is on cusp of getting application open) a chance or jumping ship to a bank that’s already been processing loans for days (? Back if the line). Can we apply both places and see which is approved first?

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We were told by our bank that you cannot do that, you can only only submit for PPP once.

Thanks for the info!

We have been told the same, only 1 application - Joan Troy, Dunwoody Pediatrics

Same issue here and same bank(Santander). My office manager is ready with paperwork. Did you also apply for the SBA loan? We had a response from them asking us if we wanted to apply for the 10k advance. Still waiting to hear back from them as well.

We did not yet apply for SBA. really frustrated with Santander, we are also all ready to go. Hoping any day now…

Thanks for all the replies!

Thank you - I have been wondering about this!

We were told you could. That the SBA would kick out the second application if you were already approved for one via another bank and you weren’t aware yet. Our banker said worse case you get loan documents for two loans and you can only sign one of them!

Application link opened this afternoon

I was told you can submit at multiple places but can only accept it at one