I have received Loan offer on 07/02/2020, I applied the same day. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Bluevine - "Your application is being processed by the SBA" SBA EIDL Grant Timeline: Whichever For Expect With Application UPDATE: LO contacted me today (5/5) requesting transcripts for tax returns for 2019 and 2020. 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. Economic Injury Disaster Loans (EIDL) had previously been capped at $150,000, then $500,000. 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. SBA EIDL Deadline 12/31: What it Means for Businesses in 2022 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. Visit www.sba.gov/eidl to learn more about eligibility and application. For more information, please see our Eidl Loan Increase Phone Call May 3-2021 : Eidlppp 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. . The SBA is increasing EIDL limits up to $2,000,000. Here are the details 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 Part of me really wants to believe that they're going in "somewhat" order of original EIDL loan date. Scan this QR code to download the app now. Also I havent even filed 2020 yet. Since then my account say " Your application is being processed " . The SBA also launched the SBA Economic Injury Disaster Loan Portal to simplify the process of checking loan statuses. Cookie Notice 300 0 obj <>stream Online Services - Employment Assistance | Gouvernement du Qubec Your application for the Targeted EIDL Advance is still in processing. February 1, 2021. Rey says: May 3, 2021 at 5:39 pm. 6/4 - 10 days since portal invite. and our 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. Use r/TargetedEIDL for advance/grant issues. Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply. We apologize for the delays, but we are Aside from my calls to T2, I have heard nothing. 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. Could be several more weeks but he seemed surprised that it has been 15 days "processing", Stuck in "your application is being processed". The 8 day thing seem strange, but it's moving along. App 3301499XXX, 5/25 - Confirmed all in portal and status at "your application is being processed". 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. You can contact SBA's Customer Service Center at 1-800-659-2955. COVID-19: Economic Stimulus and SBA Loans Sba Eidl Grant Application 2021 - GrantInfoClub.com Hows the timeline on that! Cookie Notice Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020-2022 COVID-19 disaster. Im getting mixed signals about bluevine but I also kept my options open. 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. Just wanted to get a typical wait time. 0 I keep looking in my portal and it says your application is being processed. 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) Applied the last week of April. If your EIDL application is denied, you have six months from the date of denial to request a reconsideration. Reply. Called, T2 said keep waiting as they are "getting paperwork together", 6/7 - Just spoke with t2. 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 agency has previously said it was . Once you are ready, click on the "Register with your bank" button at the bottom of the page. 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. If approved, follow adjacent steps for a COVID EIDL increase for >$500K funds 2. There are staff members that now know me by name (Michael from West Africa is my favorite help desk person). Until it says "approved" it's usually a 10 day period from signing docs to funds being deposited. 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. Ridiculous. Your application is being processed by the SBA (Whats next), Scan this QR code to download the app now. In September 2021, SBA Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program. Federal Register :: Disaster Loan Program Changes 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. SBA EIDL Your loan modification is being processed SBA Disaster Loan FAQ - Small Business Development Center Privacy Policy. SAN FRANCISCO, CA / ACCESSWIRE / December 5, 2021 / The U. Applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: TargetedAdvanceReevaluation@sba.gov. I called today and try to find out what is the status of the application. 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". The SBA has all my documents and I've been told verbally by Tier 2 that I've been approved. I just called SBA to find out the real status of my EIDL Loan Increase application. Cookie Notice and our Feedback. 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. %%EOF =H@B121ff| By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. PDF Targeted EIDL Advance and Supplemental Targeted Advance FAQ I know others have been waiting longer and it sucks for us. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Being processed means you may be a few weeks atleast to some months before it says "approved or denied". Processing time : EIDL I was in reconsideration (7/2021)and my portal was reactivated a week ago. PDF F. #2021r00254 Eastern District of New York SBA Administrator Guzman Enhances COVID Economic Injury Disaster Loan Ive been on this status since 4/19 and it says everything is completed. Everythings signed. About COVID-19 EIDL This is a little weird as Ive turned in 2019 many times and singed a 4506-T. Apply for >$500K Immediately 1. Hello, I need some help. 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. Said it could take 2-3 weeks for documents. So what's the delay? Last April (2021), I received a notice that I was eligible for an increase. Why PPP Loan Applications Are Getting Stuck And How To Keep - Forbes 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. 242 0 obj <> endobj For more information, please see our 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. 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). Correct email address is: CovidEIDLIncreaseRequests@sba.gov. First of all thank you to everyone that helped me in my last post. EIDL Round 2 | SBA Expands Covid-19 Loan Application Deadline Since confirmation, I have called multiple times (essentially once/twice each week). 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. To use your bank information (Sign-in . Any help would be appreciated. Your application was sent to the SBA to be processed. That's what's wrong. The amount of the grant is required to be reduced by any PPP funding that was previously received by the business
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your application is being processed sba eidl 2021 2023