The SBA has all my documents and Ive been told verbally by Tier 2 that Ive been approved. Log into account on . Once you are ready, click on the "Register with your bank" button at the bottom of the page. With screenshots (PII redacted), my SBA EIDL Journey. The SBA started the process of reaching out to these businesses on February 1, 2021. and our This federal small business loan program supports small businesses' recovery from the COVID-19 disaster's economic impacts by providing accessible and borrower-friendly capital. I took a modest amount based on six-months revenue minus the amount that my current revenue would cover. Privacy Policy. Your application was sent to the SBA to be processed. sba eidl loan disbursement processchannel 13 weather girl pregnant; sba eidl loan disbursement processphiladelphia inmate mugshots; sba eidl loan disbursement processhanalei hat company; That's where they check all of your documentation and verify your business. Reply. hbbd```b``OW1D2`)FDHMd]fIk7lvi $A i$Q&gl])>"%h e@ 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). Any help would be appreciated. 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. Cookie Notice Applied 1/20 as existing customer 2nd draw and sat idle in review until 2/2 when they finally submitted my application to the SBA. Once you accept the offer in the portal, your loan goes to the underwriting department. Small Business Administration (SBA) popular COVID Economic Injury Disaster Loan (EIDL) loan program has a deadline of December 31, 2021 . Credit is there. That was about 1/4 of what was offered. Hot www.forafinancial.com This part of the process can take anywhere from one to 30 days. I applied 1/20 with BlueVine and the literally just submitted my application to the SBA on 2/2. Use r/TargetedEIDL for advance/grant issues. 300 0 obj <>stream Sign up for and complete application via SBA portal 4. MENU MENU. App 3301499XXX, 5/25 - Confirmed all in portal and status at "your application is being processed". Each time I call, I ask if anything else has been entered into the portal. 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. 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 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. 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. Feedback. I was in reconsideration (7/2021)and my portal was reactivated a week ago. To be considered for the $5K Supplemental Advance, you must apply for the EIDL program by the end of today. For additional information on COVID EIDL and other recovery programs please visit www.sba.gov/relief. Just wanted to get a typical wait time. It took about six weeks total from application to funding. Within hours, I was able to confirm amount and hit the "process" button which now says "Your application is being processed" just very curious on average how long it takes to get to the next step of an approval or decline? Credit Card Processors; High Risk Applicators; The Administration is . If you submitted your application online, you can check your loan status through the SBA website. Small businesses can access a $10,000 loan advance that is not repaid. "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. Was told approval was waiting on 2nd stage and keep waiting. 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. and our The operator told me I need to wait for someone to start working on my loan application manually. I would encourage you to try to reach out to the SBA to make sure your application is still being considered for the increase. I called today and try to find out what is the status of the application. Your application is being processed by the SBA (Whats next), Scan this QR code to download the app now. 242 0 obj <> endobj I just called SBA to find out the real status of my EIDL Loan Increase application. Part of me really wants to believe that they're going in "somewhat" order of original EIDL loan date. There you go. I've been told my transcripts were received and uploaded just this last Wed 9/1 by SBA District Office. . Until it says "approved" it's usually a 10 day period from signing docs to funds being deposited. I know others have been waiting longer and it sucks for us. I keep looking in my portal and it says your application is being processed. There are staff members that now know me by name (Michael from West Africa is my favorite help desk person). Step 3: The lender will hopefully approve your loan and send you a commitment letter. 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. Find out what to expect after applying for an Economic Injury Disaster loan & how long you can defer. I have received Loan offer on 07/02/2020, I applied the same day. and our %%EOF 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. All 3 T2's were consistent in saying I had an LO assigned since 4/22 and transcripts requested on 4/22. Called, T2 said keep waiting as they are "getting paperwork together", 6/7 - Just spoke with t2. Privacy Policy. You can contact SBA's Customer Service Center at 1-800-659-2955. 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. Meanwhile, the SBA is still reviewing a possible increase in the maximum size of its EIDL from $500,000 to $2 million. This is a little weird as Ive turned in 2019 many times and singed a 4506-T. %PDF-1.6 % You will receive an email notification of the application status in the coming weeks. SAN FRANCISCO, CA / ACCESSWIRE / December 5, 2021 / The U. Use r/TargetedEIDL for advance/grant issues. So whats the delay? Use r/TargetedEIDL for advance/grant issues. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Since then my account say " Your application is being processed " . Told me to call back after 3 weeks from the 30th, 6/8 - Spoke with a regional rep for SBA and he called me back to tell me that my loan has been "obligated" and to keep waiting. Z,,Lr6u{20a!X%h5Oy *M3gBLJ00EewB2& N* Reddit and its partners use cookies and similar technologies to provide you with a better experience. Since confirmation, I have called multiple times (essentially once/twice each week). Last April (2021), I received a notice that I was eligible for an increase. . 1y You're only a week into the process. We apologize for the delays, but we are She said that next steps would include two emails, one on the Increased loan amount and a second on the Targeted EIDL Advance. 0 The portal is located online by going to: covid19relief1.sba.gov. Cookie Notice I'm in recon due to credit since 7/22, this is from an original application back in May 2020. 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. endstream endobj 243 0 obj <. Use r/TargetedEIDL for advance/grant issues. Receive decision within three weeks 5. About COVID-19 EIDL The SBA has all my documents and I've been told verbally by Tier 2 that I've been approved. mountain news crime log 2021. are sports illustrated magazines worth keeping. The accountant that processed my EIDL application put the wrong bank acct info, email, telephone number and other incorrect info on my application. 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. UPDATE: LO contacted me today (5/5) requesting transcripts for tax returns for 2019 and 2020. Research Credit Mapping Processing Reviews. When you accept a "quote" for a loan amount, please understand this is a preliminary step in the process and not an approval decision by SBA. Reddit and its partners use cookies and similar technologies to provide you with a better experience. For more information, please see our 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 DisasterCustomerService@sba.gov for additional assistance. 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. The SBA will begin sending email invites to businesses and nonprofit organizations that received the EIDL Advance in an amount less than $10,000 starting on . Anyone else had to submit 2020 returns? Thanks. Tax returns. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Anyone know how long is queue or does it usually take 2 weeks or longer. Scan this QR code to download the app now. Cookie Notice Because of where my business is located my advance will be topped up to $10,000 or plus $7,000. 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. Verify initial and additional eligibility requirements met via FAQs 2. 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. I keep looking in my portal and it says your application is being processed. Entering 5 months not a minute of peace this whole time. I got an email from bluevine lowering my loan offer from 20833 to 19823 (Thats fine with me) After I accepted it. As of Oct. 8, 2021, you can apply for an EIDL of up to. Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020-2022 COVID-19 disaster. Economic Injury Disaster Loans (EIDL) had previously been capped at $150,000, then $500,000. SBA Loan Processing Time: How Long Does the Process Take . hb```"NVB eama> Q0Awo$RNH1qti5V@vFsu:R|~*0~y*GS^ uwtt00C(D2A!8DP Privacy Policy. 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. Hows the timeline on that! I need some help. 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. Your application is being processed. 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. 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. Borrowers who need copies of their loan documents will need to create a new account with the SBA . By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Since then my account say " Your application is being processed " . 6/4 - 10 days since portal invite. 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. Ive noticed that those who have applied recently for the EIDL loan are being processed and funded right away. Mostly typical timeline until now. Everything. So what's the delay? February 1, 2021. 2. This part of the process is generally taking 2 to 3 weeks. Wait for the paperwork" (Oct, Nov, Dec). How Long Were You in Your Application is Being Processed?, 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. The Economic Injury Disaster Loan and Loan Advance (EIDL) program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to the COVID-19 public health crisis. The agency has previously said it was . Recognition Card Data. 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. . Use r/TargetedEIDL for advance/grant issues. =H@B121ff| Tax returns. trey lance draft class. 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) I have received Loan offer on 07/02/2020, I applied the same day. Please make sure to read and understand the below steps before you start your registration. Wish their (SBA) process was more transparent and smoother. Register for online services 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". 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. Im getting mixed signals about bluevine but I also kept my options open. Applicants should follow these instructions when requesting a re-evaluation: Send an email to TargetedAdvanceReevaluation@sba.gov Correct email address is: CovidEIDLIncreaseRequests@sba.gov. I was in reconsideration (7/2021)and my portal was reactivated a week ago. Cookie Notice 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. For more information, please see our For more information, please see our The portal will only be . For applications for COVID-19 Economic Injury Disaster (COVID EIDL) loans, in this rule SBA is changing the definition of affiliation, the eligible uses of loan proceeds, and application of the size standard to certain hard-hit eligible entities, and is establishing a maximum loan limit for borrowers in a single corporate group. Complete EIDL Intake Form via sba.gov/eidl 3. For more information, please see our 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. I let her know this and re sent 2019 tax returns lets see. Privacy Policy. It's fixed! If you have already received a Florida EIDL loan from the Small . Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply. 2. Business Business, Economics, and Finance. Log onto your Account on the SBA Portal to submit a loan modification request to your existing EIDL loan. Your application for the Targeted EIDL Advance is still in processing. Apply for >$500K Immediately 1. 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". Visit www.sba.gov/eidl to learn more about eligibility and application. endstream endobj startxref By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. The EIDL portal is now closed. 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. Rather, it represents your acknowledgement of a potential loan amount, prior to review by a loan officer. 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. Step 2: The loan officer will review your application and underwrite the loan within 10 to 14 days. Got another email Your application is being processed by the SBA Can you get denied from here? Beginning Feb. 1, 2021, SBA first reached out to EIDL applicants who already received a partial EIDL Advance (between $1,000 - $9,000).

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