your application is being processed sba eidl 2021

Credit Card Processors; High Risk Applicators; Hopefully this isnt an issue. Use r/TargetedEIDL for advance/grant issues. 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. Find out what to expect after applying for an Economic Injury Disaster loan & how long you can defer. The 8 day thing seem strange, but it's moving along. I have received Loan offer on 07/02/2020, I applied the same day. I was in reconsideration (7/2021)and my portal was reactivated a week ago. 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. The accountant that processed my EIDL application put the wrong bank acct info, email, telephone number and other incorrect info on my application. 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. Part of me really wants to believe that they're going in "somewhat" order of original EIDL loan date. 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. Applicants should follow these instructions when requesting a re-evaluation: Send an email to TargetedAdvanceReevaluation@sba.gov and our "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 Receive decision within three weeks 5. Could be several more weeks but he seemed surprised that it has been 15 days "processing", Stuck in "your application is being processed". Cookie Notice Was told approval was waiting on 2nd stage and keep waiting. Applied the last week of April. Since then my account say " Your application is being processed " . 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. Since then my account say " Your application is being processed " . 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? Cookie Notice Your application for the Targeted EIDL Advance is still in processing. Rey says: May 3, 2021 at 5:39 pm. She said that next steps would include two emails, one on the Increased loan amount and a second on the Targeted EIDL Advance. Wait for the paperwork" (Oct, Nov, Dec). 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). I am waiting patiently for my turn. For more information, please see our I got my original EIDL loan March 2021. Once you are ready, click on the "Register with your bank" button at the bottom of the page. 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 has all my documents and Ive been told verbally by Tier 2 that Ive been approved. All 3 T2's were consistent in saying I had an LO assigned since 4/22 and transcripts requested on 4/22. sba eidl loan disbursement processchannel 13 weather girl pregnant; sba eidl loan disbursement processphiladelphia inmate mugshots; sba eidl loan disbursement processhanalei hat company; Cookie Notice The SBA started the process of reaching out to these businesses on February 1, 2021. In September 2021, SBA Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program. 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. First of all thank you to everyone that helped me in my last post. 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". Privacy Policy. To be considered for the $5K Supplemental Advance, you must apply for the EIDL program by the end of today. We apologize for the delays, but we are COVID-19 EIDLs are designed to provide economic relief if your business is currently experiencing a loss of revenue due to the pandemic. I got an email from bluevine lowering my loan offer from 20833 to 19823 (Thats fine with me) After I accepted it. 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. I keep looking in my portal and it says your application is being processed. Recognition Card Data. 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. Said it could take 2-3 weeks for documents. "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. Research Credit Mapping Processing Reviews. 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.. This EIDL application was ultimately denied by the SBA. Got another email Your application is being processed by the SBA Can you get denied from here? Small Business Administration (SBA) popular COVID Economic Injury Disaster Loan (EIDL) loan program has a deadline of December 31, 2021 . Reddit and its partners use cookies and similar technologies to provide you with a better experience. App 3301499XXX, 5/25 - Confirmed all in portal and status at "your application is being processed". How Long Were You in Your Application is Being Processed?, Scan this QR code to download the app now. That's where they check all of your documentation and verify your business. SAN FRANCISCO, CA / ACCESSWIRE / December 5, 2021 / The U. Please make sure to read and understand the below steps before you start your registration. %PDF-1.6 % trey lance draft class. and our 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). Apply for >$500K Immediately 1. Your application is being processed. Beginning Feb. 1, 2021, SBA first reached out to EIDL applicants who already received a partial EIDL Advance (between $1,000 - $9,000). 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. Until it says "approved" it's usually a 10 day period from signing docs to funds being deposited. The SBA has many loans you can apply for, such as 7(a) Loans, 504 Loans, and Microloans. That's what's wrong. 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 just called SBA to find out the real status of my EIDL Loan Increase application. 6/4 - 10 days since portal invite. Being processed means you may be a few weeks atleast to some months before it says "approved or denied". Each time I call, I ask if anything else has been entered into the portal. It took about six weeks total from application to funding. and our I've been in processing between 5-6 months. 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. Timeline to signing docs from "Your Application is Processing" when confirming and hitting that submit button. The agency has previously said it was . Small businesses can access a $10,000 loan advance that is not repaid. 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. . 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 also launched the SBA Economic Injury Disaster Loan Portal to simplify the process of checking loan statuses. 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. The EIDL portal is now closed. Sign up for and complete application via SBA portal 4. You can contact SBA's Customer Service Center at 1-800-659-2955. February 23, 2022 SBA Disaster Loan Advisors Leave a comment. 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. February 1, 2021. You will receive an email notification of the application status in the coming weeks. I have received Loan offer on 07/02/2020, I applied the same day. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. This is the quickest and easiest way to verify the status of your EIDL. For more information, please see our Said loan approved on 5/30. 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. Borrowers who need copies of their loan documents will need to create a new account with the SBA . For additional information on COVID EIDL and other recovery programs please visit www.sba.gov/relief. Since confirmation, I have called multiple times (essentially once/twice each week). Use r/TargetedEIDL for advance/grant issues. Economic Injury Disaster Loans (EIDL) had previously been capped at $150,000, then $500,000. Verify initial and additional eligibility requirements met via FAQs 2. If you have already received a Florida EIDL loan from the Small . Feedback. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Thanks. I applied 1/20 with BlueVine and the literally just submitted my application to the SBA on 2/2. There you go. 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. 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. Use r/TargetedEIDL for advance/grant issues. 300 0 obj <>stream I will keep this post updated with important and/or material updates. So what's the delay? 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 MENU MENU. Hot www.forafinancial.com This part of the process can take anywhere from one to 30 days. 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. SBA Loan Processing Time: How Long Does the Process Take . Just wanted to get a typical wait time. Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020-2022 COVID-19 disaster. Cookie Notice Meanwhile, the SBA is still reviewing a possible increase in the maximum size of its EIDL from $500,000 to $2 million. Use r/TargetedEIDL for advance/grant issues. So whats the delay? But still crickets. 0 Privacy Policy. 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. %%EOF I need some help. I know others have been waiting longer and it sucks for us. 2. Business Business, Economics, and Finance. Key changes announced by the SBA. Privacy Policy. To use your bank information (Sign-in . Thanks. Applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: TargetedAdvanceReevaluation@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. Ridiculous. 7(a) Loans is the most common loan program at the SBA. I keep looking in my portal and it says your application is being processed. 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. Visit www.sba.gov/eidl to learn more about eligibility and application. 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. The Administration is . I was in reconsideration (7/2021)and my portal was reactivated a week ago. Z,,Lr6u{20a!X%h5Oy *M3gBLJ00EewB2& N* Step 3: The lender will hopefully approve your loan and send you a commitment letter. 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 operator told me I need to wait for someone to start working on my loan application manually. Register for online services 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. Im getting mixed signals about bluevine but I also kept my options open. What happens after your SBA EIDL loan is approved? If you submitted your application online, you can check your loan status through the SBA website. The portal is located online by going to: covid19relief1.sba.gov. Tax returns. endstream endobj startxref Privacy Policy. Received my original funding last year. 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. 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. Stay strong out there. 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. 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. That was about 1/4 of what was offered. and our I would encourage you to try to reach out to the SBA to make sure your application is still being considered for the increase. Credit is there. Wish their (SBA) process was more transparent and smoother. hb```"NVB eama> Q0Awo$RNH1qti5V@vFsu:R|~*0~y*GS^ uwtt00C(D2A!8DP Everything. Once you accept the offer in the portal, your loan goes to the underwriting department. 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. Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply. hbbd```b``OW1D2`)FDHMd]fIk7lvi $A i$Q&gl])>"%h e@ Anyone know how long is queue or does it usually take 2 weeks or longer. I've been told my transcripts were received and uploaded just this last Wed 9/1 by SBA District Office. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. About COVID-19 EIDL Ive noticed that those who have applied recently for the EIDL loan are being processed and funded right away. This is a little weird as Ive turned in 2019 many times and singed a 4506-T. The amount of the grant is required to be reduced by any PPP funding that was previously received by the business ", Still in "Your application is being processed" hell, Scan this QR code to download the app now. The SBA has all my documents and I've been told verbally by Tier 2 that I've been approved.

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