Because Varo currently offers only personal accounts—not business accounts—we cannot accept business transactions like Paycheck Protection Programs (PPP) loans and other loans from the Small Business Association (SBA) that are intended for business purposes.
Any PPP or other SBA loans sent to a Varo Bank account will be returned to the sending institution (SBA or Lender). We recommend contacting your lender to provide ACH routing information for a Bank that will accept your business deposits. Business loans must be deposited into a designated business account.
For details on Varo’s policy on business transactions, see section A1 (which is right after the introduction) of the Varo Bank Account agreement.