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Contributor

Is it available at USAA now?

7 REPLIES

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Hello @craigw0lv, Thank you for your message regarding Paycheck Protection Program (PPP). At this time, USAA does not participate in this program. I would recommend you visit www.sba.gov to find a list of participating lenders. In the event USAA does participate in the program, we will update this information on USAA.com. If you already have a loan with USAA, please chat or call us to see how we can assist you.  You may reach us at 1-800-531-8722 or 210-531-8722 or #8722 from a mobile device. Our normal business hours are Monday - Friday 5:00 a.m. to 12:00 a.m. CT; Saturday 6:00 a.m. to 10:00 p.m. CT and Sunday 8:00 a.m. to 6 p.m. CT. 

 

https://www.sba.gov/paycheckprotection/find
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-pp... -Colleen

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As an independent contractor, this is extremely dissapointing.  USAA will only be facilitating this loan, so it seems disingenous to your mission of serving your customers. Please tell your executives to make an effort to protect USAA small business owners.  You are my only bank and for now, the SBA PPP Loan is one of my best options to recover lost IC income.  Thank you for your time.

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I second Josh's message.  Many military spouses have had to opt for self employment in order to stay employed while supporting an active duty spouse.  USAA needs to support its members during this unprecedented time. 

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Hi @raidermarine. I can certainly understand your view, I've encountered many military spouses who have been self employed. I would be happy to submit feedback on your behalf. I appreciate you taking the time to share. ~Holland

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@_Josh_, I will forward your feedback regarding the SBA PPP loans. I do wish you the best during this difficult time. -Colleen

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Thank you, Colleen.  My best to you and yours as well.

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Please USAA get onboard with this program ASAP. Especially given that you meet the requirements to be an approved lender, the low loan risk given the backing by the SBA/CARES Act, and the huge number of current banking customers that are independent contractors (Uber/Lyft drivers, etc), self employed individuals. As of today independent contractors and self employed can apply and qualify for this loan but unfortunately the current lenders are only accepting applications from pre-existing account holders with there financial institutions. This is leaving us with the concerns of if USAA is in fact doing everything they can to take care of there customers in our current situation and if when this is over will we need to reevaluate if our current banking/loan options are enough. Please, USAA, your independent contractors are left hanging here.