![]() Blueacorn saw enormous demand during this period, ultimately supporting 808,000 small business owners / sole proprietors via disbursement of $12.5 billion in SBA PPP funds.īlueacorn’s borrowers were the people who keep our economy running and weave together the fabric of our communities: beauty salon owners, truck drivers who are operating their business off their phone in between stops, our favorite local coffee shops and restaurants that define our neighborhoods, residential construction workers, rideshare or taxi drivers, landscapers, and local delivery workers, among a variety of other professionals. Blue Acorn iCi Employees Biannca Lugo, Business Development Coordinator, Connecticut, USA, Jacob Velasco, Business Development. Many were also unwilling to lend to individuals altogether.īlueacorn was founded in April 2020 with the singular purpose of advancing the original mission of PPP by democratizing access to loan relief for America’s small businesses, independent contractors, and self-employed workers – groups who are often overlooked by our traditional banking system and could not seek relief through the traditional PPP channels.Īs a fintech lender service provider, Blueacorn partnered with the Small Business Administration (SBA) and CDFIs to facilitate the application for and fulfillment of PPP loans predominantly for businesses and workers who qualified as independent contractors, self-employed individuals, freelancers, and gig workers. If you have already submitted a request, please allow 48 hours for a response. As of April 26, the 25 customer reviews of Blueacorn on the BBB websitewhich, by the way, aren't factored into the BBB ratingaveraged out to 1.28 out of 5 stars. However, due to the structure of the program, it became clear that there was a growing divide when it came to loan disbursement, with lenders prioritizing applications for clients who would take out the largest loans and bring in the highest fees. The launch of PPP was met with enormous demand and the program was renewed two times to meet the flood of applications. Blueacorn PPP has 14 reviews (average rating 1.0). Adobe, Blue Acorn iCi and BWG Connect invite you to participate in an. ![]() PPP was designed to be an intentionally untargeted program with limited safeguards in place so as to prioritize reaching those in need as quickly as possible. ![]() Given the severity of the threat posed by COVID-19, the government sought to create a program that focused on speed and access. Blue Acorn customer references have an aggregate content usefuless score of 4.7 based on 2323 user ratings. PPP was a cornerstone program of the CARES Act, intended to help employers keep their employees on their payroll by covering up to two months of their payroll expenses with a loan that could be completely forgiven if it was spent in accordance with the program’s guidelines. One digit was missing in routing number and support ticket was submitted SAME DAY 3.) never received a response to correct it 4.) was told by chat rep from Blue Acorn that all was good and just needed to fix routing number and to wait for email this was 6/23 and within 30 min of that chat was denied as well as 75k other people according.
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