As of May 6, 2022, the SBA is no longer processing EIDL loan increase requests or requests for reconsideration of previously declined loan applications due to a lack of available funding. This is a little weird as Ive turned in 2019 many times and singed a 4506-T. Here are the top 5 reasons that applications are being held by the SBA: Duplicate submission - Borrower filled out an application with another lender and that other lender submitted it to the. Called SBA yesterday and found out that there has in fact been a hold placed that is delaying my 2nd draw application from actually being processed . There are staff members that now know me by name (Michael from West Africa is my favorite help desk person). "You have been approved, it's now up to the SBA office" (Oct, Nov, Dec), tier 2: "you're good; expect an email this week", "I see a confirmation that your account has been opened and they are working on funding. Just to validate the data I was seeing onscreen, I called SBA at: 800.659.2955, was the 700+ caller in line, waited about 27 minutes and spoke with an agent that essentially confirmed everything that I was seeing on screen. Hopefully this isnt an issue. If you have already received a Florida EIDL loan from the Small . Cookie Notice Wish their (SBA) process was more transparent and smoother. Your file number (CP-12), found on documents received from the Ministre, like a deposit notice or a or a notice to appear; The last three numbers of your social insurance number (SIN) If you don't have a file with the Ministre, you must have a Revenu Qubec notice of assessment from one of the last two years. That was about 1/4 of what was offered. If approved, follow adjacent steps for a COVID EIDL increase for >$500K funds 2. Correct email address is: [email protected]. It's been in processing ever since and I've called them for days and keep getting told to just wait and that nothing is wrong, no holds showing etc. Tax returns. Applicants should follow these instructions when requesting a re-evaluation: Send an email to [email protected] I took a modest amount based on six-months revenue minus the amount that my current revenue would cover. Privacy Policy. Said loan approved on 5/30. and our 6/4 - 10 days since portal invite. The portal is located online by going to: covid19relief1.sba.gov. Cookie Notice %%EOF and our Because of where my business is located my advance will be topped up to $10,000 or plus $7,000. Use r/TargetedEIDL for advance/grant issues. I was in reconsideration (7/2021)and my portal was reactivated a week ago. Complete EIDL Intake Form via sba.gov/eidl 3. Please make sure to read and understand the below steps before you start your registration. The accountant that processed my EIDL application put the wrong bank acct info, email, telephone number and other incorrect info on my application. Credit is there. Larger limit for SBA EIDL program. Your application was sent to the SBA to be processed. Everything. The Consolidated Appropriations Act of 2021 replenished the pool of EIDL money by $20Billion and the application deadline for the Small Business Administration's (SBA) Economic Injury Disaster Loan (EIDL) program has been extended to December 31, 2021. I keep looking in my portal and it says your application is being processed. Could be several more weeks but he seemed surprised that it has been 15 days "processing", Stuck in "your application is being processed". Ive noticed that those who have applied recently for the EIDL loan are being processed and funded right away. Last April (2021), I received a notice that I was eligible for an increase. I got an email from bluevine lowering my loan offer from 20833 to 19823 (Thats fine with me) After I accepted it. Rey says: May 3, 2021 at 5:39 pm. 04/27/2021: Author checked the SBA Covid Relief page today, Amount has been 'Confirmed' and Green block added, 'Your Loan Modification is being processed. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. You can contact SBA's Customer Service Center at 1-800-659-2955. Wait for the paperwork" (Oct, Nov, Dec). Can people give their experience of timeline when they received any approval (loan doc signing) to denials after they've confirmed their loan amount, uploaded all docs, and hit that "submit" button to get "Your Application is being Processed". Applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: [email protected]. I applied on April 22-2021 for my increase and states the loan modification is being processed and I know may of you will tell me its only being a few days ago, but I was curious to call and speak with someoone who can give me real info, so after waiting 15 minutes on the phone a lady pick up the phone and told me "we are having some technical issues with our portal and a lot of glitches, please check thursday or friday, if your status didn't change please call us back" and I asked her why thursday or friday, and she said to me "many updates are coming on thursday and friday." and I said ok.but I feel she was trying just to finish the call like she didn't care so I'm calling back to see what other agent tells me.I will keep you in the loop to everybody. Hot www.forafinancial.com This part of the process can take anywhere from one to 30 days. When processing is complete-the SBA may take 8 days or longer to process your application-we'll send you an email with instructions to accept and sign your loan offer. COVID-19 EIDLs are designed to provide economic relief if your business is currently experiencing a loss of revenue due to the pandemic. The operator told me I need to wait for someone to start working on my loan . Sign up for and complete application via SBA portal 4. How Long Were You in "Your Application is Being Processed?" In normal recon prior to April 6 I've been on this status since 4/19 and it says everything is "completed." Everything's signed. This EIDL application was ultimately denied by the SBA. UPDATE: LO contacted me today (5/5) requesting transcripts for tax returns for 2019 and 2020. SBA Loan Processing Time: How Long Does the Process Take . Aside from my calls to T2, I have heard nothing. 300 0 obj <>stream For more information, please see our Receive decision within three weeks 5. We apologize for the delays, but we are Find out what to expect after applying for an Economic Injury Disaster loan & how long you can defer. Until it says "approved" it's usually a 10 day period from signing docs to funds being deposited. For more information, please see our Part of me really wants to believe that they're going in "somewhat" order of original EIDL loan date. Tax returns. 7(a) Loans is the most common loan program at the SBA. I called today and try to find out what is the status of the application. Cookie Notice I would encourage you to try to reach out to the SBA to make sure your application is still being considered for the increase. Your application is being processed. Everything. The SBA cannot process Supplemental grant applications after December 31st, so it "strongly encourages" eligible small businesses to apply by the December 10, 2021 deadline to ensure adequate processing time. I've been told my transcripts were received and uploaded just this last Wed 9/1 by SBA District Office. Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020-2022 COVID-19 disaster. %PDF-1.6 % That's where they check all of your documentation and verify your business. If your EIDL application is denied, you have six months from the date of denial to request a reconsideration. I am on the phone listening to the Harriet Goldberg's "My Time to Fly" (2021) and wishing that someone would come on, say, "Oh, wow. In September 2021, SBA Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program. To use your bank information (Sign-in . Cookie Notice The program will be administered by the SBA and has the following parameters: Grants will be provided on the basis of pandemic-related revenue loss from 2019 to 2020. Use r/TargetedEIDL for advance/grant issues. Also I havent even filed 2020 yet. Since confirmation, I have called multiple times (essentially once/twice each week). 2. SAN FRANCISCO, CA / ACCESSWIRE / December 5, 2021 / The U. Your application is being processed by the SBA (Whats next), Scan this QR code to download the app now. Reddit and its partners use cookies and similar technologies to provide you with a better experience. and our Rather, it represents your acknowledgement of a potential loan amount, prior to review by a loan officer. This page provides you with the information you need to register for My Service Canada Account (MSCA) with your bank. Borrowers who need copies of their loan documents will need to create a new account with the SBA . I have received Loan offer on 07/02/2020, I applied the same day. In addition to increases, the SBA will still process reconsiderations and appeals in 2022 as long as your initial application was filed by December 31st, 2021. Visit www.sba.gov/eidl to learn more about eligibility and application. Use r/TargetedEIDL for advance/grant issues. But still crickets. Thanks. I applied 1/20 with BlueVine and the literally just submitted my application to the SBA on 2/2. Hello everyone please I need help and needed to be sure if my loan is still processing and will hopefully get an approval email, I applied for the SBA EIDL loan 30/ July and got portal email same day, I registered my account and was eligible for $150k I accepted full amount and my credit score was pulled same day, my credit score was formerly 630 and was pulled then I got credit report and I dropped to 613 on my credit report, showing on my portal link my application has been received and processing, my identity confirmed and verified and still havent gotten any email from the SBA for an approval or denied letter, I still dont know what my chances are for the loan but hopefully will I be approved and have to wait until I get the next letter, Scan this QR code to download the app now. By Phone: SBA Disaster Assistance Customer Service Center: 1-800-659-2955 (TTY/TDD: 1-800-877-8339) (Monday to Sunday, 8am to 8pm ET) Privacy Policy. The agency has previously said it was . Since then my account say " Your application is being processed " . Ridiculous. First of all thank you to everyone that helped me in my last post. Stay strong out there. That's what's wrong. Cookie Notice Research Credit Mapping Processing Reviews. Now I'm stressing because I seen all these other borrowers getting approvals back and closing docs from BlueVine within 1-2 days of submitting to sba. So whats the delay? I know others have been waiting longer and it sucks for us. "she said your application is being processed, your loan officer will contact you and as far as I can see we receive everything from you the day you apply and we don't have any timeframe to process applications and i ask her about the new SBA timeframe regarding to request transcripts and if they don't get them with certain time she said to me SAN FRANCISCO, CA / ACCESSWIRE / November 4, 2021 / The Small Business Administration (SBA) deadline to submit new Economic Injury Disaster Loan (EIDL) applications is fast approaching.. . Im getting mixed signals about bluevine but I also kept my options open. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply. 04/07/2021 at 8.39 am CDT: Author sends back request email seeking an increase (Note: This was attempt #3 at sending as the attempts at 8.23 am and 8.37 am respectively bounced back due to mail address issues. There you go. Use r/TargetedEIDL for advance/grant issues. The operator told me I need to wait for someone to start working on my loan application manually. The EIDL portal is now closed. Said it could take 2-3 weeks for documents. 04/19/2020: Initial SBA EIDL Loan funded, Terms, Payments to start in 12 months, 3.75% for 30 years 04/07/2021 at 6.47 am CDT: SBA sends me an 'Increased Loan Limits' email (Image #1) 04/07/2021 at 8.39 am CDT: Author sends back request email seeking an increase (Note: This was attempt #3 at sending as the attempts at 8.23 am and 8.37 am respectively bounced back due to mail address issues. and our Verify initial and additional eligibility requirements met via FAQs 2. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. The SBA has all my documents and I've been told verbally by Tier 2 that I've been approved. Also, SBA Resource Partnerssuch as a local Small Business Development Center (SBDC) or Women's Business DevelopmentCenter (WBC) can assist you with completing and submitting the COVID EIDL application at nocost. The last entry was December 10. Log into account on . You will receive an email notification of the application status in the coming weeks. The SBA has all my documents and Ive been told verbally by Tier 2 that Ive been approved. Once you accept the offer in the portal, your loan goes to the underwriting department. Mostly typical timeline until now. MENU MENU. 2. Business Business, Economics, and Finance. What happens after your SBA EIDL loan is approved? Anyone else had to submit 2020 returns? 6 The investigation has revealed that at least one other EIDL application was submitted from the Nunez IP Address registered to SUBJECT PREMISES-2 by Individual-2, an individual whose identity is known to your affiant and who does not reside at SUBJECT PREMISES-2. Log onto your Account on the SBA Portal to submit a loan modification request to your existing EIDL loan. hbbd```b``OW1D2`)FDHMd]fIk7lvi $A i$Q&gl])>"%h e@ Called, T2 said keep waiting as they are "getting paperwork together", 6/7 - Just spoke with t2. Any help would be appreciated. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. I will keep this post updated with important and/or material updates. Since then my account say " Your application is being processed " . Register for online services Was told approval was waiting on 2nd stage and keep waiting. 1y You're only a week into the process. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Small Business Administration (SBA) popular COVID Economic Injury Disaster Loan (EIDL) loan program has a deadline of December 31, 2021 . I'm in recon due to credit since 7/22, this is from an original application back in May 2020. Credit has shot up considerably. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Ive been on this status since 4/19 and it says everything is completed. Everythings signed. How Long Were You in Your Application is Being Processed?, Scan this QR code to download the app now. Small business owners may call SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing) or email [email protected] for additional assistance. Entering 5 months not a minute of peace this whole time. It may take several weeks before all emails are sent to businesses in the first priority group so please do not be alarmed if you do not receive your email invite right . I received an email following day Tue 9/2 by LO requesting more docs which I did so immediately in portal and responded via email for basic info requested. A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. She confirmed that I was completely approved and that it would take a matter of days to push through my new application Completed the new application first week of September 2021 Received confirmation that all documents had been received Current Status Since confirmation, I have called multiple times (essentially once/twice each week). Hello, I need some help. A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Meanwhile, the SBA is still reviewing a possible increase in the maximum size of its EIDL from $500,000 to $2 million. Z,,Lr6u{20a!X%h5Oy *M3gBLJ00EewB2& N* I am waiting patiently for my turn. Can people give their experience of timeline when they received any approval (loan doc signing) to denials after they've confirmed their loan amount, uploaded all docs, and hit that "submit" button to get "Your Application is being Processed". Each time I call, I ask if anything else has been entered into the portal. But luckily, there are a few different ways you can check the status of your application: Online: https://disasterloanassistance.sba.gov or via the SBA portal. Just wanted to get a typical wait time. These loans are designed to help small businesses with the purchasing of real estate, short- and long-term working capital, refinancing current business debt, and various other purposes for eligible businesses. sba eidl loan disbursement processchannel 13 weather girl pregnant; sba eidl loan disbursement processphiladelphia inmate mugshots; sba eidl loan disbursement processhanalei hat company; Businesses that applied for an EIDL loan before December 27, 2020 and did not receive any Advance: The second group of eligible businesses are those that applied for an EIDL loan before December 27, 2020, but after grant funding had depleted. trey lance draft class. A recent Florida SBA policy change increases the maximum loan available to small businesses for COVID-19 to $2,000,000.

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