Scan this QR code to download the app now. . The operator told me I need to wait for someone to start working on my loan application manually. MENU MENU. SBA EIDL Your loan modification is being processed, Scan this QR code to download the app now. February 1, 2021. 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. In September, I received an email telling me that I had be declined due to "Applicant requests a withdrawal or fails to proceed", Immediately sent a request for review to "pdcrecons", Three minutes later got a call from a LO telling me that she had canceled my application and that I would need to re-apply in order to try and get past a "glitch" in the system that was stopping the processing of the FUNDING of my increase. Log into account on . Any help would be appreciated. The last entry was December 10. Wait for the paperwork" (Oct, Nov, Dec). 242 0 obj <> endobj and our hb```"NVB eama> Q0Awo$RNH1qti5V@vFsu:R|~*0~y*GS^ uwtt00C(D2A!8DP I let her know this and re sent 2019 tax returns lets see. Thanks. 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". If you submitted your application online, you can check your loan status through the SBA website. About COVID-19 EIDL That's where they check all of your documentation and verify your business. Said loan approved on 5/30. 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. 0 Called, T2 said keep waiting as they are "getting paperwork together", 6/7 - Just spoke with t2. Hopefully this isnt an issue. The accountant that processed my EIDL application put the wrong bank acct info, email, telephone number and other incorrect info on my application. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. Meanwhile, the SBA is still reviewing a possible increase in the maximum size of its EIDL from $500,000 to $2 million. 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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Wish their (SBA) process was more transparent and smoother. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. I have received Loan offer on 07/02/2020, I applied the same day. 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 just called SBA to find out the real status of my EIDL Loan Increase application. 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 . Privacy Policy. Feedback. If your EIDL application is denied, you have six months from the date of denial to request a reconsideration. 6/2 - Called SBA and spoke to tier 2. Visit www.sba.gov/eidl to learn more about eligibility and application. I've been in processing between 5-6 months. Ive noticed that those who have applied recently for the EIDL loan are being processed and funded right away. For more information, please see our The SBA has all my documents and I've been told verbally by Tier 2 that I've been approved. 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. and our Ive been on this status since 4/19 and it says everything is completed. Everythings signed. 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. The amount of the grant is required to be reduced by any PPP funding that was previously received by the business Correct email address is: CovidEIDLIncreaseRequests@sba.gov. 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. Hot www.forafinancial.com This part of the process can take anywhere from one to 30 days. 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. Also I havent even filed 2020 yet. Apply for >$500K Immediately 1. 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. 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. So what's the delay? 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. Please make sure to read and understand the below steps before you start your registration. It took about six weeks total from application to funding. If approved, follow adjacent steps for a COVID EIDL increase for >$500K funds 2. hbbd```b``OW1D2`)FDHMd]fIk7lvi $A i$Q&gl])>"%h e@ Tax returns. Receive decision within three weeks 5. 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? For more information, please see our SAN FRANCISCO, CA / ACCESSWIRE / December 5, 2021 / The U. Your application is being processed. Until it says "approved" it's usually a 10 day period from signing docs to funds being deposited. Cookie Notice %PDF-1.6 % The portal is located online by going to: covid19relief1.sba.gov. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. and our and our 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. I would encourage you to try to reach out to the SBA to make sure your application is still being considered for the increase. This page provides you with the information you need to register for My Service Canada Account (MSCA) with your bank. 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. The SBA has many loans you can apply for, such as 7(a) Loans, 504 Loans, and Microloans. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 1y You're only a week into the process. 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. 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. She said that next steps would include two emails, one on the Increased loan amount and a second on the Targeted EIDL Advance. 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 got my original EIDL loan March 2021. "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 This EIDL application was ultimately denied by the SBA. 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). Everything. Privacy Policy. Privacy Policy. 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. To use your bank information (Sign-in . Credit is there. How Long Were You in Your Application is Being Processed?, Scan this QR code to download the app now. Part of me really wants to believe that they're going in "somewhat" order of original EIDL loan date. I applied 1/20 with BlueVine and the literally just submitted my application to the SBA on 2/2. Borrowers who need copies of their loan documents will need to create a new account with the SBA . Mostly typical timeline until now. The SBA has all my documents and Ive been told verbally by Tier 2 that Ive been approved. If you have already received a Florida EIDL loan from the Small . I keep looking in my portal and it says 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: TargetedAdvanceReevaluation@sba.gov. February 23, 2022 SBA Disaster Loan Advisors Leave a comment. Everything. endstream endobj 243 0 obj <. This part of the process is generally taking 2 to 3 weeks. I was in reconsideration (7/2021)and my portal was reactivated a week ago. Was told approval was waiting on 2nd stage and keep waiting. That's what's wrong. The Administration is . Got another email Your application is being processed by the SBA Can you get denied from here? 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). Applicants should follow these instructions when requesting a re-evaluation: Send an email to TargetedAdvanceReevaluation@sba.gov 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. 2. Business Business, Economics, and Finance. I called today and try to find out what is the status of the application. 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 . Cookie Notice Economic Injury Disaster Loans (EIDL) had previously been capped at $150,000, then $500,000. The portal will only be . You can contact SBA's Customer Service Center at 1-800-659-2955. In September 2021, SBA Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program. To be considered for the $5K Supplemental Advance, you must apply for the EIDL program by the end of today. and our Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020-2022 COVID-19 disaster. 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. It's fixed! 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. 2. With screenshots (PII redacted), my SBA EIDL Journey. 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. 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 . Z,,Lr6u{20a!X%h5Oy *M3gBLJ00EewB2& N* For more information, please see our So whats the delay? The agency has previously said it was . The SBA started the process of reaching out to these businesses on February 1, 2021. I took a modest amount based on six-months revenue minus the amount that my current revenue would cover. ", Still in "Your application is being processed" hell, Scan this QR code to download the app now. 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. Your application was sent to the SBA to be processed. All 3 T2's were consistent in saying I had an LO assigned since 4/22 and transcripts requested on 4/22. Rey says: May 3, 2021 at 5:39 pm. For more information, please see our Beginning Feb. 1, 2021, SBA first reached out to EIDL applicants who already received a partial EIDL Advance (between $1,000 - $9,000). Log onto your Account on the SBA Portal to submit a loan modification request to your existing EIDL loan. sba eidl loan disbursement processchannel 13 weather girl pregnant; sba eidl loan disbursement processphiladelphia inmate mugshots; sba eidl loan disbursement processhanalei hat company; Since confirmation, I have called multiple times (essentially once/twice each week). 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. Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply. Credit Card Processors; High Risk Applicators; %%EOF App 3301499XXX, 5/25 - Confirmed all in portal and status at "your application is being processed". Once you are ready, click on the "Register with your bank" button at the bottom of the page. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. I need some help. Reply. . Said it could take 2-3 weeks for documents. Once you accept the offer in the portal, your loan goes to the underwriting department. Rather, it represents your acknowledgement of a potential loan amount, prior to review by a loan officer. Hello, I need some help. The EIDL portal is now closed. endstream endobj startxref Use r/TargetedEIDL for advance/grant issues. Step 3: The lender will hopefully approve your loan and send you a commitment letter. There you go. As of Oct. 8, 2021, you can apply for an EIDL of up to. The 8 day thing seem strange, but it's moving along. Just wanted to get a typical wait time. 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. The SBA also launched the SBA Economic Injury Disaster Loan Portal to simplify the process of checking loan statuses. 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.. Research Credit Mapping Processing Reviews. 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. . We apologize for the delays, but we are Larger limit for SBA EIDL program. First of all thank you to everyone that helped me in my last post. Credit is there. Use r/TargetedEIDL for advance/grant issues. Verify initial and additional eligibility requirements met via FAQs 2. 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. Your application for the Targeted EIDL Advance is still in processing. Last April (2021), I received a notice that I was eligible for an increase. 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. Anyone else had to submit 2020 returns? I keep looking in my portal and it says your application is being processed. Use r/TargetedEIDL for advance/grant issues. 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. That was about 1/4 of what was offered. 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. 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. Complete EIDL Intake Form via sba.gov/eidl 3. I was in reconsideration (7/2021)and my portal was reactivated a week ago. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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. Just wanted to get a typical wait time. 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. Ridiculous. Step 2: The loan officer will review your application and underwrite the loan within 10 to 14 days. Register for online services 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. Applied the last week of April. 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. Hows the timeline on that! Small businesses can access a $10,000 loan advance that is not repaid. =H@B121ff| 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. 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. Im getting mixed signals about bluevine but I also kept my options open. 274 0 obj <>/Filter/FlateDecode/ID[]/Index[242 59]/Info 241 0 R/Length 138/Prev 245245/Root 243 0 R/Size 301/Type/XRef/W[1 3 1]>>stream There are staff members that now know me by name (Michael from West Africa is my favorite help desk person). 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. Recognition Card Data. Privacy Policy. SBA Loan Processing Time: How Long Does the Process Take . I am waiting patiently for my turn. 6/4 - 10 days since portal invite. UPDATE: LO contacted me today (5/5) requesting transcripts for tax returns for 2019 and 2020. Cookie Notice Received my original funding last year. I called today and try to find out what is the status of the application. For more information, please see our Small Business Administration (SBA) popular COVID Economic Injury Disaster Loan (EIDL) loan program has a deadline of December 31, 2021 . Aside from my calls to T2, I have heard nothing. Your application is being processed by the SBA (Whats next), Scan this QR code to download the app now. 300 0 obj <>stream I know others have been waiting longer and it sucks for us. Because of where my business is located my advance will be topped up to $10,000 or plus $7,000. You will receive an email notification of the application status in the coming weeks. trey lance draft class. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Sign up for and complete application via SBA portal 4. Each time I call, I ask if anything else has been entered into the portal. 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 the quickest and easiest way to verify the status of your EIDL. Timeline to signing docs from "Your Application is Processing" when confirming and hitting that submit button. Since then my account say " 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". I will keep this post updated with important and/or material updates. For additional information on COVID EIDL and other recovery programs please visit www.sba.gov/relief. 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. Cookie Notice 7(a) Loans is the most common loan program at the SBA. Privacy Policy. The operator told me I need to wait for someone to start working on my loan . Being processed means you may be a few weeks atleast to some months before it says "approved or denied". What happens after your SBA EIDL loan is approved? Stay strong out there. I've been told my transcripts were received and uploaded just this last Wed 9/1 by SBA District Office. I have received Loan offer on 07/02/2020, I applied the same day. 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. Use r/TargetedEIDL for advance/grant issues. 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. Entering 5 months not a minute of peace this whole time. I'm in recon due to credit since 7/22, this is from an original application back in May 2020. Thanks. Cookie Notice By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Key changes announced by the SBA. But still crickets. 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". 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. Tax returns. This is a little weird as Ive turned in 2019 many times and singed a 4506-T. COVID-19 EIDLs are designed to provide economic relief if your business is currently experiencing a loss of revenue due to the pandemic. mountain news crime log 2021. are sports illustrated magazines worth keeping. 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. A recent Florida SBA policy change increases the maximum loan available to small businesses for COVID-19 to $2,000,000. 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. Find out what to expect after applying for an Economic Injury Disaster loan & how long you can defer. I know others have been waiting longer and it sucks for us. Use r/TargetedEIDL for advance/grant issues. I got an email from bluevine lowering my loan offer from 20833 to 19823 (Thats fine with me) After I accepted it.
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