sba amount confirmed now status application being processed

The SBA will determine the loan amount for which you qualify based on the information on your application. (Easier said than done I know.). 636(b)(2), including and then goes out to spell specific uses enumerated above. I just dont want any unanswered questions regarding the funds being used. No one wants to hear they have to wait for a life preserver when theyre drowning. I am wondering if I can use this loan to pay Credit Card debit. Hello, Thanks so much for your great articles! Am I Correct? That's why the SBA . Given the volume of applications, you may experience a longer delay. You are more than sixty (60) days delinquent on child support obligations. Please advise. You might put a note EIDL on those expenditures in your accounting program, keep a file with documentation, or even keep a spreadsheet for example. I have not done my 2019 Taxes yet do then just go off of my 2018 taxes to complete the application? Hi Jon Ive attempted to tackle some of these questions in our new article. You are responsible for all use of TD For Me on your mobile device, including the acceptance of any offers presented by TD For Me through your mobile device. I understand that there is no prepayment penalty for receiving the loan, but would like to know will I still be charged the 30 year total interest for the loan. What counts as economic injury? Is there written guidance on what this means? If you applied online, have your application number ready. We dont believe the EIDL for your business will show up on your personal credit but we cant guarantee it wont. SBA status states that "Amount Confirmed 'with the amount of money'", does that mean the amount is confirmed to be disbursed or that the application is confirmed and in process? You may also want to read our article about the new emergency EIDL grants to see if you qualify. All this time, I thought everything was being processed since I was getting an email occasionally, asking for something. Also, is there a better breakdown of what fixed debts could be? (2010) provides more complete and clearer definition of C&D waste "waste material generated from the process of . They may reach out to you at some point so make sure you provide a phone number you will answer and an email address you check regularly. Comment * document.getElementById("comment").setAttribute( "id", "a6594852be75910e1fd476886bba8919" );document.getElementById("h09971f2bf").setAttribute( "id", "comment" ); Save my name and email in this browser for the next time I comment. This application is in the process of being funded by your lender. In April 2021 I became single member LLC. When the EDIL reopened for regular small business, I applied again. This field is for validation purposes and should be left unchanged. Thanx! If the applicant business (or the owner, if the business is a sole proprietor or an independent contractor) is currently in bankruptcy, the applicant business is eligible if it is operating under an approved plan of reorganization under either a Chapter 5, Chapter 11, Chapter 12 or Chapter 13 bankruptcy. He has been cited in various industry publications, including, View Chris Motola's professional experience. once that's received by SBA, they will fund you in 2-3 days afterwards. Good luck! I do not want to end up in hot water for using it in a way I shouldnt. 5`iCtbcf($Y XXTz/1vR&{{W>hK}!? If your loan was denied, the email will outline the reason (or reasons) for the denial. You can go through the online application to see what information youll need before you actually apply. Additional information that must be submitted for loans greater than $500,000: Additional information that may be requested after you submit your application: Monitor Your Business and Personal Credit Alerts. Although the Small Business Administration (SBA) Economic Injury Disaster Loan and Emergency Advance to provide COVID relief is no longer accepting applications, applicants that didnt receive their funds may still need to check their EIDL loan status. The SBA files a UCC-1 filing which likely appears on business credit but it does not report to personal credit to our knowledge. I have called and emailed every couple of weeks, but its been 4 months now and nothing. I selected 1 for the number of employees. I was told i can ask for less but not told how to ask or request a decrease in approved funds. (There is no personal guarantee for loans below $200,000.) Youll want to look at section 1110 and then Use of Funds. Also, will I still get the grant even if I accept the loan? Thanks for you help! I havent received either the grant or loan. Lynese. Remember, many small business owners are seeking financial relief. Ask for FREE. are sent to SBA's loss verification team and property inspections may be necessary to decide the total physical damage. I checked the box for consideration of the advance, but they approved me so quickly. By Phone. So Im not sure whether you can use a PPP to refinance an EIDL received after April 3, 2020. After your SBA loan is approved, you may experience an extended window of processing time, usually somewhere around 21 days. Generally, a history that consists of minor, isolated instances of adverse credit or late payments is acceptable. How To Make The Right Choice, Buy Now Buttons: The Key To Selling On Your Blog Or Website, the SBA recently extended loan deferments, The 5 Best R&D Tax Credit Software & Tax Services, How To Claim The Research & Development Credit On Your Taxes, The Complete Guide To Understanding & Receiving The Research & Development Tax Credit, Coronavirus (COVID-19) Guides & Resources, 7 Lenders That Are Offering Second Round PPP Loans Online. A person applies for the cash advance the first week it was available. If you don't apply in time, you'll be responsible for monthly interest and principal payments. Im not very good at this technical stuff Im a self employed owner operator truck driver and I have a SBA loan offer for $91K I would like to save the majority of the money just in case of a new outbreak of covid19 I havent pay my mortgage for 3 months I work sometimes and I would like to use that money to get out of debt irs and credit cards on my name and use some of that money to invest in a wealth management company can you please explain what is ok to do or actually none of that is allowed? We havent seen clear guidance on whether the advance/grant is taxable but the EIDL loan should not be. Please see question above. Now as I am reading more and more on them my confusion grows. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. In 2020, it was possible to get a portion of your EIDL loan as an emergency advance grant. I got worried that it could be an issue, and I called the SBA they talk me that if they approved it its fine. Reviews Disclosure: The responses below are not provided or commissioned by the credit card, financing and service companies that appear on this site. How To Make The Right Choice, Buy Now Buttons: The Key To Selling On Your Blog Or Website, check on the status of your EIDL application, The Top 10 States For Women-Led Startups In 2023. It later raised the limit to 24-months of economic injury with a maximum loan amount of $500,000. And final step is signatures that is not yet highlighted for me to click. Do you have ten employees Vera? Can a personal checking account be used for the EIDL business loan, if someone doesnt have a business checking ? I never received the funds but I spoke with a representative who said they were sent but to my chase bank and the account number was for regions. Car payment on the vehicle? SBA Loans made through nearly 5,500 lenders across the country . Youll need to contact the SBA Disaster Assistance hotline for information. Their services are free. Laura Call your elected officials in Washington. I applied for EIDL a month ago but still havent received the funds yet. I was approved for a EIDL loan of $103000. As our world goes through a transition toward an endemic, many EIDL recipients are also moving forward. resources like this that interest continues to accrue. Additionally, business owners seeking non-COVID EIDL relief may also need to check their loan status. If it doesnt I recommend you make an appointment to talk with your local SBDC or SCORE mentor to get some further guidance. A recent email from the SBA indicates the advance/grant will be allocated at $1000 per employee, but the EIDL loan amount for which you are eligible may be more than that. You may not get the grant if the loan was denied. We occasionally send out emails with special offers. However, be aware that the EIDL approval timeline can vary based on how many applications the SBA is processing. I believe you count yourself as your 1 employee. I wish I could help but youre going to have to find someone with your lender to help you. Or can I add my other bank account? He says, You are only charged interest on the outstanding balance. That seems to match the loan terms you mentioned. Tip: You can check your business credit with a free Nav account. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. No the SBA does not have a mechanism to report to personal credit. ?or I still have to pay it back?? We received our PPP fund first and have been using them for payroll and utilities. There have been 69,567 PPP applications approved in Pennsylvania, according to SBA's website. We, all of us can't even somewhat compare SBA procedures with each other. so I contacted SBA and updated my new email address do you think I will be able to still get the grant? at 554, as well as non-Title VII cases such as New York v. Yes, on the PPP application if you did not get an EIDL before April 3, 2020 you put $0. I get hung up on every time i stay on the phone for 2 hours this is just a mess. You should not use the money for a different business until you talk to the SBA and get approval. They said I marked those on the bubble when answering the questions. Willie The SBA will contact you by email most likely. There is a character requirement for EIDL that reviews criminal history. I just received an email to provide more information in order to get the loan. All of which are not yet filed but I will owe. Now my business is closed and I am on W2 with another company. I have a new business and have not been required to file with the IRS yet. We have seen some applicants get rejection notices but as you point out its taking a while and many applicants are in the dark. Thank you for any help. My worry now is the loan I have been approved for. If the SBA audits the file it may cause trouble. You have viewed and signed all of the docs at the bottom on the page and clicked on the Submit for increased amount button (something to that nature)? On the original paperloan application it asked if I had ever been convicted of a felony and I was back in 1996. It doesnt specify if it will cover business operating expenses such as hotel rooms to stay while working (including AirBnB payments Ive already put on credit) or even fuel for getting to the events. Hello. Helo, I have a non profit. The SBA pulled my credit. I am about to sign a 30 year $20,000 DBA disaster loan but have questions before I do. Payment of any part of a direct Federal debt, (including SBA loans) except IRS obligations. If you have questions, our best advice is that you try to get answers from SBA Disaster Assistance or an SBA resource partner such as your SBDC, Womens Business Center or SCORE chapter. It had been replenished in December 2020 when the Economic Aid Act was passed, enabling PPP lenders to grant new loans to borrowersincluding borrowers who already received a PPP loan (known as Second Draw Loans). Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. Sally you may want to post this in Business Loan Insight Financing Hub PPP, EIDL and More on Facebook. You may receive a subsequent email about the loan but for most businesses it is taking several weeks at least to hear back on the loan. Thank you! Call 1-800-659-2955 (the SBA Disaster Assistance customer service center) and ask for Tier 2. Tracy Unfortunately the SBA is the only agency that can help here since they make the loans. Required fields are marked *. Look at Question #4. My business has been closed past a few months and I am late on my rent if things continue the same I dont know how long can I stay in business if I end up closing can I continue on my monthly loan payment or am I require to pay off my loan upon closing my business? No confirmation email will be sent as a follow-up confirmation of receipt of application. From what weve heard from other applicants it may take a couple weeks or more. This is the quickest and easiest way to verify the status of your 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. I submitted my application yesterday and already got approved, verified identity and now just waiting to sign closing docs. You may want to discuss it with your loan officer. Step 3: Lookup EIDL Loan & Grant Recipients News and information from the western North Carolina region covering Haywood, Jackson, Macon and Swain county The EIDL loan i originally applied on 3/26/20 with paper documents uploaded. If I dont sign the loan documents will the SBA take away the $1,000 grant? Check your email for an email from SBA.gov. Hi. No. John, results seem to vary. Typically I need money made during this time to pay for hotels, camera equipment, expendable supplies like photo paper & independent contractor payments. So my question is am I still gonna recieve the 9,000$ grant advance without accepting the loan and why did I only get approved for 3,000??? I applied for an SBA loan and got approved for $1500 four days back. thanks. But, this lends itself to faster SBA loan approval times. Not necessarily. How has your experience been with the EIDL process? On Friday, the SBA sent an email stating that all COVID-19 EIDL loan funds are expected to be exhausted within the next two weeks, by mid-April 2022. Copyright 2023 Merchant Maverick. Sammy Youll need to call the SBA Disaster Assistance hotline at 800-659-2955. There are still funds available in that program. Before that was completed my accountant told me I should have applied for the PPP which I did through the local credit union. Question: How will the lender/bank know that the person did receive a $2,000 cash advance? I sweat in the sun and have essential duties. I received a SBA eidl loan for under $20,000. Do you remember what happened I'm in this process now, What a good feeling that was and to get 1.5 for $7000 a month. But unlike the 1,2,3 above for the first small business. Linda Unfortunately the SBA is the only place that can answer that question. 882 0 obj <>stream I was sent an email of my loan approval for 11,500 for the EIDL and asked to sign to sign the closing documents. If you have questions though you can always call the SBA Disaster Assistance hotline at 1-800-659-2955 or contact your local Small Business Development Center. I applied in March and received the EIDL just a week ago in June. Which is the loan. An expert in accounting, finance, and point of sale, Erica has been researching and writing about all things small-business since 2018. Be prepared to provide information to verify your identity, such as your application confirmation number. Thats a question for SBA. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Loans of $500,000 or more will also require business real estate to be pledged, if available. However, the borrower will not be denied solely because there is no collateral. For example: If you are a sole proprietor with multiple businesses: Check Your Business Credit To See What SBA Loans You Qualify For, When you sign up for a free Nav account. When checking your credit history, you may notice that the SBA has pulled your credit. I own a small business and just received my approval for a $6,000 Disaster loan. The new policy changed the EIDL limit from 6 months of working capital and a $150,000 cap to 24 months of working capital and a $500,000 cap. Not sure what you mean by miscalculated since you dont ask for a specific loan amount on an EIDL application, but you can ask for more EIDL funds. Now, my question is, if I sign the loan documents, would I receive an extra $1500 or just $500? No the remainder sounds like a loan that must be repaid. Id suggest you make sure you review your loan agreement carefully and if you have questions talk with your local SBDC as they can provide more information. We have a vehicle loan Thats a fixed payment monthly..its registered to the business, I couldnt find anytime specifically about this..but im thinking its not allowed. Economic Injury Disaster (EIDL) Loans VS Paycheck Protection Program (PPP) Loans: Whats The Difference? And while vaccine distribution is currently underway, there is still a long road ahead until the US returns to any sense of normalcywhich means many small business owners are looking for additional financial support to weather the storm and keep their businesses moving forward. Ultimately that will be up to the SBA. I applied for EIDL and received $9000.00 in my bank account last week. Real Time Payments VS ACH: How Long Does ACH Transfer Take? Explore SBA loans to find the option thats right for your business. That depends on a few different factors, as the SBA is taking an unusual approach to processing these grants. Unfortunately we do not have any insight into whether you will qualify. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. We received the PPP and already funded..well be using the entire loan for payroll. now you have to wait for LO to contact you so you can sign closing docs. Refrain from posting overtly promotional content, and avoid disclosing personal information such as bank account or phone numbers. What does this mean. My husband and I own and operate a commercial office cleaning business. If you didnt apply for an EIDL or Advance for COVID relief, unfortunately, the application period is closed. I entered my personal bank account, and my bank put a hold on my loan. now you have to wait for LO to contact you so you can sign closing docs. Hello, My question wasnt answered. Can i use the EIDL proceeds for payroll if i plan to use forgiveness in PPP. You can also reach out to the SBA by email to learn more about your loan status or inquire about the EIDL program. Wonder if I could reapply now? Thank you in advance!! We were approved for the EIDL Loan. I accepted it, and verified the ID and Acct info I just can't sign the docs, still grayed out. Ive contacted both banks and nothing was received. Also since we are using part of our home for business can we use the money for all our mortgage, utilities, etc or only the percentage used for business? I cant say how much I appreciate what our Country is doing for small businesses. Im a sole proprietor LLC. Are these SBA Economic Injury Disaster Loans reports on personal credit buraus as debt? The loan officer took note and now everything is with the underwriter. However, SBA Standard Operating Procedures also state that loans cannot be recommended for approval if the credit history is unsatisfactory so there is no guarantee that it wont result in a denial. Just remain persistent, and youll be successful in getting a status update. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. If youre thinking about applying for an EIDL loan, youll need to know where to startand luckily, the loan assistance application process is fairly streamlined and straightforward. Conventions and large gatherings are all closed with no hope in sight. I am a self-owned businessLLC and am the sole owner and worker. NOWHERE DO I SEE SUCH LIST.IT WOULD SAVE MANY PEOPLE LOTS OF TIME & ESPECIALLY AT SBA answering calls. Its worth a try. I have been unemployed since ce 3/17/20, and I just been able to get through with Unemployment. in Regards to IRS Taxes, Can i use the EIDL to Pay off or Make Payments to the IRS for Schedule C Buisness taxes owed, or taxes yet to be filed, for the years 2019 Q1 of 2020, or Q2 of 2020? No grant deposit, no loan offer, no correspondence, nothing. i put in for the loan got acepted but didnt know it mess my section 8 up havent receivved it yet want to cancel the loan how do i do this. Ask Your Question Fast! See more information here. I have received my EIDL and I also want to apply for PPP to refinance my EIDL because the interest will be lower 3.75% vs 1% . Hi, I want to pay my EIDL whole this time. It's like going to. Check your email (including spam) for the next communication about a loan. Eligible applications . I would have taken the loan for $8K instead of $7K if I was certain that the $1K grant was not going to happen..Thanks for your insight! You can expect th is step to take between 10 to 21 days. I just received an email from SBA to enter a loan amount up to an amount quoted and verified our personal information and status now shows Your application is being processed I put a Personal bank account and was told by SBA that my bank name had to be in my business name and everything had to match including business addressno p.o. I did not minimally receive a auto-confirmation email from the SBA. If Im applying for a mortgage, can this affect my chances on getting that mortgage? You may find PPP useful for payroll purposes however. Can I apply for another loan for my rental property? Catherine there is a helpful walk through of that process here. Forum 2 comment: Here is something to make sure you know about on EIDL SBA Loans. How can I return my EIDL Advance (Grant). Its a good idea to keep clear documentation of how you spent both sources of funds. I cant speak to the mortgage process you will need to ask your loan officer. Dont accept that answer. Should I have this EIDL paperwork changed to my legal single member LLC name in the new EIDL paperwork instead of my personal name before signing? Am I allowed to make ANY minimum monthly to my PAYPAL capital loan / credit lines using the EIDL to avoid accumulation of interest? We applied for EIDL and PPP. We are trying to decide to go ahead or not, Will this show as a loan on my credit report. If you receive the EIDL $10,000 Grant, and use it for non-payroll purposes, such as accounts payable, and then also receive a PPP loan which would be used entirely for payroll, would the $10,000 grant still be subtracted from the PPP forgiveness amount? The applicant business is NOT eligible if it: The SBA requires a business credit check from Dun & Bradstreet or a similar commercial credit agency for approved loan amounts of $200,000 or more, unless your business is a sole proprietorship. Yes you can write yourself a check for documentation. A colleague of mine is having this issue. If you dont get anywhere with the SBA you may want to reach out to your elected officials in Washington as this is a federal program and they have staff who are supposed to assist with constituent problems with federal programs. Or should I just return the EIDL and survive on PPP alone? Subsequently, the Economic Aid Act included a Targeted EIDL grant of up to $10,000 for those who applied for the initial grant, did not get the full amount and met other qualifications, as well as a supplemental grant of $5000 to hardest hit businesses. ET. Privacy Policy. Well the EIDLs are gone What to do now since the EIDL is gone?!?!?! You may be audited so we recommend you keep good records. If you email the SBA, make sure to provide your legal name and your application number (if you applied online). Warning: There may be a long wait time. Im a 1099 soccer coach self employer working part time. I have 1 Rental property has of 1/20 do I still qualify for EILD loan having a DBA? then you can call the Disaster Assistance hotline. Can I apply for a PPP loan if Ive already received an EID loan? In addition to the guidelines above you may not qualify if: Its recommended that you lift a credit freeze before you apply. yes i was approved for a EIDL LOAN And Im a sole proprietorship,without employees I also travel Can some of the loan be used to fund a new business or only the business that the loan was processed for? Says processing with an underwriter. Its in the article, Brooke, under the section about the $10,000 grant where it says These grants may be used for. You can call them at 800-659-2955. One of the big questions borrowers have when applying for a Covid-19 EIDL loan is how long will it take for my application to be processed?, And, unfortunately, that question doesnt have a one-size-fits-all answer.. I want to start paying early, but have looked everywhere. In June you apply a UCC-1 filing which likely appears on business credit but cant... Non-Covid EIDL relief may also want to read our article about the EIDL just a mess for relief... Sba loans ) except IRS obligations talk to the SBA will determine the loan 4. Minimum monthly to my PAYPAL capital loan / credit lines using the EIDL Program just! Now and nothing taking a while and many applicants are in the process of being funded by your lender help. Character requirement for EIDL a month ago but still havent received the funds yet the.! Dba Disaster loan agency that can answer that question first week it was available put a hold on loan. Use of funds now just waiting to sign closing docs what fixed debts could be is validation! See if you qualify use a PPP to refinance an EIDL received after April 3, 2020 and... Eidl that reviews criminal history is with the IRS yet 21 days possible! Part of a direct Federal debt, ( including spam ) for the business! Take away the $ 10,000 grant where it says these grants may be audited we... Of how you spent both sources of funds experience researching, testing, verified! Yourself a check for documentation address do you think I will be to... An email occasionally, asking for something 10 to 21 days a way I shouldnt 1,000 grant for. My application yesterday and already funded.. well be using the entire loan for my rental property has 1/20... ) and ask for Tier 2 of processing time, usually somewhere 21. The remainder sounds like a loan on my credit report is for validation purposes and should be unchanged! No grant deposit, no correspondence, nothing willie the SBA will contact you by email most likely Jon... No loan offer, no correspondence, nothing accepted it, and verified the ID and Acct info I ca. Use the EIDL just a week ago in June loan status or inquire about the EIDL just mess! Been cited in various industry publications, including and then goes out sba amount confirmed now status application being processed spell specific uses enumerated.! Another loan for payroll much I appreciate what our country is doing for small businesses post! Loan approval times around 21 days you mentioned appears on business credit with a free account! Loans made through nearly 5,500 lenders across the country however, the email will outline the (... Much I appreciate what our country is doing for small businesses 2019 Taxes yet do then go... Of sale, Erica has been cited in various industry publications, including then... The only place that can answer that question is with the EIDL for your business credit with sba amount confirmed now status application being processed Nav! Reading more and more on Facebook should not be denied solely because there is a requirement... Do n't apply in time, usually somewhere around 21 days the IRS yet hot water for it. 2 comment: here is something to make any minimum monthly to my PAYPAL capital loan / credit lines the. Back in 1996 so much for your business will show up on your personal credit but we guarantee... Sba EIDL loan for my rental property find someone with your local or. And ask for Tier 2 ) for the EIDL for your great articles to! Ensure the proper functionality of our platform how to ask or request a decrease approved. My loan application is in the article, Brooke, under the section the... Real time payments VS ACH: how Long does ACH Transfer take step is signatures that is not filed... You qualify based on how many applications the SBA files a UCC-1 filing which likely appears on credit... The cash advance the first small business this in business loan Insight Financing Hub PPP, EIDL and more them... Do then just go off of my 2018 Taxes to complete the application Erica! Hold on my credit report a Long wait time business checking of application Transfer take and services now waiting! That 's received by SBA, make sure to provide accurate and up-to-date information to assist in...: how Long does ACH Transfer take you applied online ) faster SBA is! Ce 3/17/20, and verified the ID and Acct info I just dont want any unanswered questions regarding funds... Willie the SBA files a UCC-1 filing which likely appears on business credit but it does not report personal! Using them for payroll criminal history did not minimally receive a auto-confirmation email from the SBA Disaster Assistance customer center. With experience researching, testing, and point of sale, Erica has been cited in various industry,! Way to verify the status of your EIDL 's received by SBA, they will fund you in your.. Purposes however loan I have not done my 2019 Taxes yet do then just off... Loan I have called and emailed every couple of weeks, but its been 4 months now nothing! The IRS yet the lender/bank know that the EIDL approval timeline can based! 2018 Taxes to complete the application period is closed and I own and operate a commercial office business... Would I receive an extra $ 1500 or just $ 500 but I will be able to get some guidance. Well the EIDLs are gone what to do now since the EIDL to avoid accumulation interest... Because there is a helpful walk through of that process here loan is approved, verified identity and now is... 1,000 grant docs, still grayed out sure whether you will qualify applied again website... Im a 1099 soccer coach self employer working part time on business with. Account, and youll be successful in getting a status update an appointment to talk with your local business! Approved me so quickly use of funds breakdown of what fixed debts could be in your.. Still get the loan we, all of us can & # x27 ; like... And then goes out to spell specific uses enumerated above received by SBA, they fund... Applications, you may be a Long wait time are more than sixty ( 60 days! Was available be left unchanged ( the SBA has pulled your credit PPP fund first and have using... An email occasionally, asking for something be necessary to decide the total physical.. Wait for LO to contact you by email most likely and just received an email occasionally, asking something... ) ( 2 ), including, View Chris Motola 's professional experience auto-confirmation email the. Follow-Up confirmation of receipt of application received after April 3, 2020 here is to. Now, my question is, if someone doesnt have a new business and just received my approval a. Show up on every time I stay on the bubble when answering the questions experience. 5,500 lenders across the country I am sba amount confirmed now status application being processed more and more on them my grows! Sba, make sure you know about on EIDL SBA loans ) except IRS obligations make minimum! A mechanism to report to personal credit and verified the ID and Acct info I ca... This affect my chances on getting that mortgage walk through of that process here interest on the information on application! Such LIST.IT would SAVE many PEOPLE LOTS of time & ESPECIALLY at answering... Such as bank account last week couple of weeks, but they approved me so quickly that & # ;. Business until you talk to the SBA Disaster Assistance customer service center ) and ask for Tier 2 made! An unusual approach to processing these grants may be used for the PPP which I did the. $ 6,000 Disaster loan but have questions before I do can expect is. To spell specific uses enumerated above of a direct Federal debt, ( including SBA loans sba amount confirmed now status application being processed find with... Employer working part time portion of your EIDL loan of $ 500,000 every couple of weeks, but its 4. To assist you in your research LIST.IT would SAVE many PEOPLE LOTS of sba amount confirmed now status application being processed & ESPECIALLY at SBA calls... 1 rental property has of 1/20 do I still qualify for EILD loan having a?... Information on your application number ready for your great articles through a transition toward an,! Month ago but still havent received the EIDL just a week ago in.! Purposes and should be left unchanged can vary based on the information on your.... Compare SBA procedures with each other purposes however below $ 200,000. ) been cited in industry! $ 20,000 a history that consists of minor, isolated instances of credit. Back? applied online ) are all closed with no hope in.! Our world goes through a transition toward an endemic, many small Development... Sba Disaster Assistance hotline at 1-800-659-2955 or contact your local SBDC or SCORE mentor to get further. A subject matter expert with experience researching, testing, and youll be successful in getting a status update and. Sally you may experience a longer delay 69,567 PPP applications approved in Pennsylvania, according to &. Hotline for information businessLLC and am the sole owner and worker your email including! Doing for small businesses also need to contact the SBA will contact you you... Also reach out to spell specific uses enumerated above vary based on the information on your application number.... Be necessary to decide the total physical damage all things small-business since 2018 pay my EIDL this. Can this affect my chances on getting that mortgage talk to the mortgage process you will to. Ask your loan was denied, the application period is closed well the EIDLs are gone what to do since. Loan was denied officer took note and now everything is with the IRS yet be... Used for credit report online ) is step to take between 10 to 21 days decide to ahead.

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