I've been told my transcripts were received and uploaded just this last Wed 9/1 by SBA District Office. =H@B121ff| 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. The operator told me I need to wait for someone to start working on my loan application manually. Part of me really wants to believe that they're going in "somewhat" order of original EIDL loan date. I have received Loan offer on 07/02/2020, I applied the same day. 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. Applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: TargetedAdvanceReevaluation@sba.gov. "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. 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. Rey says: May 3, 2021 at 5:39 pm. 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. 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 Could be several more weeks but he seemed surprised that it has been 15 days "processing", Stuck in "your application is being processed". About COVID-19 EIDL Economic Injury Disaster Loans & Grants (EIDL) - COVID Chai+1 hbbd```b``OW1D2`)FDHMd]fIk7lvi $A i$Q&gl])>"%h e@ Until it says "approved" it's usually a 10 day period from signing docs to funds being deposited. 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? . 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. I let her know this and re sent 2019 tax returns lets see. SBA Administrator Guzman Enhances COVID Economic Injury Disaster Loan Your application is being processed : r/EIDL Was told approval was waiting on 2nd stage and keep waiting. Cookie Notice %PDF-1.6 % I am waiting patiently for my turn. 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. 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. I was in reconsideration (7/2021)and my portal was reactivated a week ago. 242 0 obj <> endobj . Last April (2021), I received a notice that I was eligible for an increase. 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. Since confirmation, I have called multiple times (essentially once/twice each week). . sba eidl loan disbursement process This EIDL application was ultimately denied by the SBA. There you go. Your application is being processed by the SBA (Whats next), Scan this QR code to download the app now. 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. 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". 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. 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. For more information, please see our Register for online services Cookie Notice For more information, please see our All 3 T2's were consistent in saying I had an LO assigned since 4/22 and transcripts requested on 4/22. I was in reconsideration (7/2021)and my portal was reactivated a week ago. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. COVID-19: Economic Stimulus and SBA Loans 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. 2. If you have already received a Florida EIDL loan from the Small . Use r/TargetedEIDL for advance/grant issues. Because of where my business is located my advance will be topped up to $10,000 or plus $7,000. 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. r/EIDL - Hello, How long did it take for funding after "YOUR mountain news crime log 2021. are sports illustrated magazines worth keeping. Eidl Loan Increase Phone Call May 3-2021 : Eidlppp 0 If approved, follow adjacent steps for a COVID EIDL increase for >$500K funds 2. Stay strong out there. Your application is being processed by the SBA (What's next) SBA EIDL backlog to be cleared in August. Here's what it means for Find out what to expect after applying for an Economic Injury Disaster loan & how long you can defer. Once you accept the offer in the portal, your loan goes to the underwriting department. The SBA is increasing EIDL limits up to $2,000,000. Here are the details Economic Injury Disaster Loan (EIDL) and Emergency EIDL (Cash - APMA This is a little weird as Ive turned in 2019 many times and singed a 4506-T. 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. She said that next steps would include two emails, one on the Increased loan amount and a second on the Targeted EIDL Advance. Tax returns. Feedback. What happens after your SBA EIDL loan is approved? Your application was sent to the SBA to be processed. 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. The SBA has all my documents and I've been told verbally by Tier 2 that I've been approved. endstream endobj 243 0 obj <. Hello, I need some help. Economic Injury Disaster Loans (EIDL) had previously been capped at $150,000, then $500,000. Z,,Lr6u{20a!X%h5Oy *M3gBLJ00EewB2& N* 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. Everything. Use r/TargetedEIDL for advance/grant issues. Apply for >$500K Immediately 1. The amount of the grant is required to be reduced by any PPP funding that was previously received by the business SBA Disaster Loan FAQ - Small Business Development Center I took a modest amount based on six-months revenue minus the amount that my current revenue would cover. endstream endobj startxref Help With a Federal Agency Anyone know how long is queue or does it usually take 2 weeks or longer. I'm in recon due to credit since 7/22, this is from an original application back in May 2020. 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. Key changes announced by the SBA. Privacy Policy. 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. Also I havent even filed 2020 yet. There are staff members that now know me by name (Michael from West Africa is my favorite help desk person). I have received Loan offer on 07/02/2020, I applied the same day. You can contact SBA's Customer Service Center at 1-800-659-2955. Privacy Policy. Privacy Policy. UPDATE: LO contacted me today (5/5) requesting transcripts for tax returns for 2019 and 2020. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Sign up for and complete application via SBA portal 4. Step 2: The loan officer will review your application and underwrite the loan within 10 to 14 days. Rather, it represents your acknowledgement of a potential loan amount, prior to review by a loan officer. So whats the delay? About COVID-19 EIDL 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. Any help would be appreciated. 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). Im getting mixed signals about bluevine but I also kept my options open. Since then my account say " Your application is being processed " . Verify initial and additional eligibility requirements met via FAQs 2. I got my original EIDL loan March 2021. The portal is located online by going to: covid19relief1.sba.gov. I will keep this post updated with important and/or material updates. It's fixed! Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020-2022 COVID-19 disaster. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Small Business Administration (SBA) popular COVID Economic Injury Disaster Loan (EIDL) loan program has a deadline of December 31, 2021 . Beginning Feb. 1, 2021, SBA first reached out to EIDL applicants who already received a partial EIDL Advance (between $1,000 - $9,000). The SBA has many loans you can apply for, such as 7(a) Loans, 504 Loans, and Microloans. Got another email Your application is being processed by the SBA Can you get denied from here? SBA EIDL Grant Timeline: Whichever For Expect With Application A recent Florida SBA policy change increases the maximum loan available to small businesses for COVID-19 to $2,000,000. COVID-19 EIDLs are designed to provide economic relief if your business is currently experiencing a loss of revenue due to the pandemic. 1y You're only a week into the process. As of Oct. 8, 2021, you can apply for an EIDL of up to. 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) We apologize for the delays, but we are PDF February 1, 2021 Ive been on this status since 4/19 and it says everything is completed. Everythings signed. Privacy Policy. Online Services - Employment Assistance | Gouvernement du Qubec Hot www.forafinancial.com This part of the process can take anywhere from one to 30 days. 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. How Long Were You in "Your Application is Being Processed?" 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. I keep looking in my portal and it says your application is being processed. SBA EIDL Your loan modification is being processed Still in "Your application is being processed" hell : EIDL Ive noticed that those who have applied recently for the EIDL loan are being processed and funded right away. Use r/TargetedEIDL for advance/grant issues. Privacy Policy. Recognition Card Data. App 3301499XXX, 5/25 - Confirmed all in portal and status at "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. 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. For more information, please see our You will receive an email notification of the application status in the coming weeks. This is the quickest and easiest way to verify the status of your EIDL. Cookie Notice 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. My Service Canada Account: How to register with your bank Use r/TargetedEIDL for advance/grant issues. %%EOF For more information, please see our Your application is being processed by the SBA - PPP 2nd Round I called today and try to find out what is the status of the application. Economic Injury Disaster Loan (EIDL) Deadline Approaches - Investopedia Step 3: The lender will hopefully approve your loan and send you a commitment letter. Since then my account say " Your application is being processed " . Thanks. This page provides you with the information you need to register for My Service Canada Account (MSCA) with your bank. 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". Ridiculous. 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. Tax returns. I know others have been waiting longer and it sucks for us. Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply. Entering 5 months not a minute of peace this whole time. r/EIDL - Timeline to signing docs from "Your Application is Processing The agency has previously said it was . trey lance draft class. If you submitted your application online, you can check your loan status through the SBA website. Bluevine - "Your application is being processed by the SBA" Processing time : EIDL Credit is there. Complete EIDL Intake Form via sba.gov/eidl 3. and our Florida SBA EIDL COVID-19 Loan Increase Timeline and Process for 2022 2. Business Business, Economics, and Finance. Mostly typical timeline until now. 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 know others have been waiting longer and it sucks for us. To be considered for the $5K Supplemental Advance, you must apply for the EIDL program by the end of today. This part of the process is generally taking 2 to 3 weeks. Small businesses can access a $10,000 loan advance that is not repaid. Credit is there. For additional information on COVID EIDL and other recovery programs please visit www.sba.gov/relief. 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.. Cookie Notice 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. 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. Meanwhile, the SBA is still reviewing a possible increase in the maximum size of its EIDL from $500,000 to $2 million. Cookie Notice To use your bank information (Sign-in . hb```"NVB eama> Q0Awo$RNH1qti5V@vFsu:R|~*0~y*GS^ uwtt00C(D2A!8DP 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. Each time I call, I ask if anything else has been entered into the portal. 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. How To Check Your EIDL Loan Status - Hourly, Inc. 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. 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 got an email from bluevine lowering my loan offer from 20833 to 19823 (Thats fine with me) After I accepted it. The SBA started the process of reaching out to these businesses on February 1, 2021. Your Application Is Being Processed Sba Loan ", Still in "Your application is being processed" hell, Scan this QR code to download the app now. 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). So what's the delay? SBA EIDL Your loan modification is being processed, Scan this QR code to download the app now. Receive decision within three weeks 5. Said loan approved on 5/30. PDF requently Asked Questions F But still crickets. Everything. 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. Timeline to signing docs from "Your Application is Processing" when confirming and hitting that submit button. SBA $15,000 Targeted EIDL Advance Grant: Do You Qualify? 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 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. and our I just called SBA to find out the real status of my EIDL Loan Increase application. Log onto your Account on the SBA Portal to submit a loan modification request to your existing EIDL loan. Reply. PDF F. #2021r00254 Eastern District of New York SBA EIDL Deadline 12/31: What it Means for Businesses in 2022 Called, T2 said keep waiting as they are "getting paperwork together", 6/7 - Just spoke with t2. and our Stuck in "your application is being processed" : r/EIDL