Your application is being processed. Privacy Policy. With screenshots (PII redacted), my SBA EIDL Journey. 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.. Correct email address is: [email protected]. 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. The SBA started the process of reaching out to these businesses on February 1, 2021. 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. Register for online services 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. Cookie Notice 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. 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. The operator told me I need to wait for someone to start working on my loan . and our 6/2 - Called SBA and spoke to tier 2. I called today and try to find out what is the status of the application. hb```"NVB eama> Q0Awo$RNH1qti5V@vFsu:R|~*0~y*GS^ uwtt00C(D2A!8DP 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. The SBA has many loans you can apply for, such as 7(a) Loans, 504 Loans, and Microloans. The amount of the grant is required to be reduced by any PPP funding that was previously received by the business Reddit and its partners use cookies and similar technologies to provide you with a better experience. Applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: [email protected]. Find out what to expect after applying for an Economic Injury Disaster loan & how long you can defer. Ive been on this status since 4/19 and it says everything is completed. Everythings signed. Got another email Your application is being processed by the SBA Can you get denied from here? Credit is there. MENU MENU. Your application was sent to the SBA to be processed. Wait for the paperwork" (Oct, Nov, Dec). Key changes announced by the SBA. Cookie Notice Apply for >$500K Immediately 1. Privacy Policy. "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. That was about 1/4 of what was offered. =H@B121ff| Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply. 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. SBA EIDL Your loan modification is being processed, Scan this QR code to download the app now. Hows the timeline on that! UPDATE: LO contacted me today (5/5) requesting transcripts for tax returns for 2019 and 2020. 2. Please make sure to read and understand the below steps before you start your registration. SAN FRANCISCO, CA / ACCESSWIRE / December 5, 2021 / The U. 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. 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. Tax returns. Timeline to signing docs from "Your Application is Processing" when confirming and hitting that submit button. 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. Log onto your Account on the SBA Portal to submit a loan modification request to your existing EIDL loan. Everything. 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). Reply. For more information, please see our Since then my account say " Your application is being processed " . To be considered for the $5K Supplemental Advance, you must apply for the EIDL program by the end of today. 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 have received Loan offer on 07/02/2020, I applied the same day. The SBA has all my documents and Ive been told verbally by Tier 2 that Ive been approved. I've been told my transcripts were received and uploaded just this last Wed 9/1 by SBA District Office. Once you accept the offer in the portal, your loan goes to the underwriting department. I applied 1/20 with BlueVine and the literally just submitted my application to the SBA on 2/2. 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. How Long Were You in Your Application is Being Processed?, Scan this QR code to download the app now. Beginning Feb. 1, 2021, SBA first reached out to EIDL applicants who already received a partial EIDL Advance (between $1,000 - $9,000). and our COVID-19 EIDLs are designed to provide economic relief if your business is currently experiencing a loss of revenue due to the pandemic. ", Still in "Your application is being processed" hell, Scan this QR code to download the app now. Small businesses can access a $10,000 loan advance that is not repaid. Use r/TargetedEIDL for advance/grant issues. Received my original funding last year. All 3 T2's were consistent in saying I had an LO assigned since 4/22 and transcripts requested on 4/22. Small Business Administration (SBA) popular COVID Economic Injury Disaster Loan (EIDL) loan program has a deadline of December 31, 2021 . 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. 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 [email protected] for additional assistance. 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. In September 2021, SBA Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program. Hopefully this isnt an issue. For more information, please see our Cookie Notice It's fixed! Since then my account say " Your application is being processed " . Thanks. 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. App 3301499XXX, 5/25 - Confirmed all in portal and status at "your application is being processed". "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 February 1, 2021. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Complete EIDL Intake Form via sba.gov/eidl 3. Tax returns. 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". and our I just called SBA to find out the real status of my EIDL Loan Increase application. 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 Borrowers who need copies of their loan documents will need to create a new account with the SBA . I took a modest amount based on six-months revenue minus the amount that my current revenue would cover. If your EIDL application is denied, you have six months from the date of denial to request a reconsideration. 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. and our If you submitted your application online, you can check your loan status through the SBA website. I was in reconsideration (7/2021)and my portal was reactivated a week ago. 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. I keep looking in my portal and it says your application is being processed. So what's the delay? Being processed means you may be a few weeks atleast to some months before it says "approved or denied". I know others have been waiting longer and it sucks for us. 0 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. February 23, 2022 SBA Disaster Loan Advisors Leave a comment. 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 . By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. I will keep this post updated with important and/or material updates. 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. 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. 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 .
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