Use r/TargetedEIDL for advance/grant issues. 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. Once you are ready, click on the "Register with your bank" button at the bottom of the page. Thanks. and our Since then my account say " Your application is being processed " . By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Part of me really wants to believe that they're going in "somewhat" order of original EIDL loan date. and our Rather, it represents your acknowledgement of a potential loan amount, prior to review by a loan officer. I am waiting patiently for my turn. 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. Could be several more weeks but he seemed surprised that it has been 15 days "processing", Stuck in "your application is being processed". Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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. 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. The SBA started the process of reaching out to these businesses on February 1, 2021. What happens after your SBA EIDL loan is approved? I called today and try to find out what is the status of the application. That's where they check all of your documentation and verify your business. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Receive decision within three weeks 5. If approved, follow adjacent steps for a COVID EIDL increase for >$500K funds 2. Ive been on this status since 4/19 and it says everything is completed. Everythings signed. 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. UPDATE: LO contacted me today (5/5) requesting transcripts for tax returns for 2019 and 2020. Beginning Feb. 1, 2021, SBA first reached out to EIDL applicants who already received a partial EIDL Advance (between $1,000 - $9,000). This page provides you with the information you need to register for My Service Canada Account (MSCA) with your bank. Your application for the Targeted EIDL Advance is still in processing. Cookie Notice Hopefully this isnt an issue. 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. 0 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. . Wait for the paperwork" (Oct, Nov, Dec). You can contact SBA's Customer Service Center at 1-800-659-2955. I keep looking in my portal and it says your application is being processed. and our I've been told my transcripts were received and uploaded just this last Wed 9/1 by SBA District Office. %PDF-1.6 % "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. The SBA has all my documents and Ive been told verbally by Tier 2 that Ive been approved. 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. I got my original EIDL loan March 2021. 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. Tax returns. I have received Loan offer on 07/02/2020, I applied the same day. 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. I know others have been waiting longer and it sucks for us. The EIDL portal is now closed. It took about six weeks total from application to funding. If you have already received a Florida EIDL loan from the Small . Called, T2 said keep waiting as they are "getting paperwork together", 6/7 - Just spoke with t2. The agency has previously said it was . With screenshots (PII redacted), my SBA EIDL Journey. 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). Small businesses can access a $10,000 loan advance that is not repaid. This EIDL application was ultimately denied by the SBA. Anyone else had to submit 2020 returns? Was told approval was waiting on 2nd stage and keep waiting. I got an email from bluevine lowering my loan offer from 20833 to 19823 (Thats fine with me) After I accepted it. She said that next steps would include two emails, one on the Increased loan amount and a second on the Targeted EIDL Advance. 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. endstream endobj 243 0 obj <. 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. To be considered for the $5K Supplemental Advance, you must apply for the EIDL program by the end of today. trey lance draft class. Larger limit for SBA EIDL program. For additional information on COVID EIDL and other recovery programs please visit www.sba.gov/relief. Within hours, I was able to confirm amount and hit the "process" button which now says "Your application is being processed" just very curious on average how long it takes to get to the next step of an approval or decline? The amount of the grant is required to be reduced by any PPP funding that was previously received by the business It's fixed! The SBA has many loans you can apply for, such as 7(a) Loans, 504 Loans, and Microloans. The operator told me I need to wait for someone to start working on my loan application manually. Use r/TargetedEIDL for advance/grant issues. That's what's wrong. February 1, 2021. The portal is located online by going to: covid19relief1.sba.gov. Please make sure to read and understand the below steps before you start your registration. Until it says "approved" it's usually a 10 day period from signing docs to funds being deposited. All 3 T2's were consistent in saying I had an LO assigned since 4/22 and transcripts requested on 4/22. Recognition Card Data. Just wanted to get a typical wait time. A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 04/27/2021: Author checked the SBA Covid Relief page today, Amount has been 'Confirmed' and Green block added, 'Your Loan Modification is being processed. Aside from my calls to T2, I have heard nothing. Reddit and its partners use cookies and similar technologies to provide you with a better experience. %%EOF hb```"NVB eama> Q0Awo$RNH1qti5V@vFsu:R|~*0~y*GS^ uwtt00C(D2A!8DP Complete EIDL Intake Form via sba.gov/eidl 3. Log into account on . mountain news crime log 2021. are sports illustrated magazines worth keeping. Each time I call, I ask if anything else has been entered into the portal. Tax returns. 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. 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 . Once you accept the offer in the portal, your loan goes to the underwriting department. Credit is there. Use r/TargetedEIDL for advance/grant issues. 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. Privacy Policy. Z,,Lr6u{20a!X%h5Oy *M3gBLJ00EewB2& N* Your application is being processed. Use r/TargetedEIDL for advance/grant issues. I have received Loan offer on 07/02/2020, I applied the same day. 242 0 obj <> endobj Everything. So whats the delay? 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. You will receive an email notification of the application status in the coming weeks. Step 2: The loan officer will review your application and underwrite the loan within 10 to 14 days. Wish their (SBA) process was more transparent and smoother. But still crickets. The Administration is . Entering 5 months not a minute of peace this whole time. Thanks. Log onto your Account on the SBA Portal to submit a loan modification request to your existing EIDL loan. Step 3: The lender will hopefully approve your loan and send you a commitment letter. Timeline to signing docs from "Your Application is Processing" when confirming and hitting that submit button. The SBA has all my documents and I've been told verbally by Tier 2 that I've been approved. Cookie Notice Feedback. SBA Loan Processing Time: How Long Does the Process Take . 300 0 obj <>stream I know others have been waiting longer and it sucks for us. Scan this QR code to download the app now. Im getting mixed signals about bluevine but I also kept my options open. Cookie Notice Hello, I need some help. . To use your bank information (Sign-in . Privacy Policy. Economic Injury Disaster Loans (EIDL) had previously been capped at $150,000, then $500,000. 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. Mostly typical timeline until now. 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.
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