eidl application reddit

I was officially denied the EIDL loan - so today, let’s go over the denial letter, what this means and what you should do if you get a denial letter. ... and congressman. The SBA initially said so-called EIDL grants of up to $10,000 would be made available "within three days" of a successful application, but has since shifted language to … Thank you! Application # 3300025xxx. Your application number should reflect the number of applications submitted before you. 06/12 to 11/2 - Was in reconsideration from this time period. Eidl application processing. Grant: 4/13. Thank you. The loan/grant is now $1000 per employee, and if you are self employed you're the employee. PPP also has tighter restrictions on what you can use the money for. Note: If you’re calling the SBA’s 1-800-659-2955 number to check on the status of your EIDL application, make sure to ask for the Tier 2 option, as this pertains specifically to the COVID-19 program. The U.S. Small Business Administration resumed taking applications this week for … I was in reconsideration since June, initially denied due to insufficient credit. But once a denial is received, […] 06/12 - Got an update on my loan application, went through the reconsideration process. Will I be able to also apply for the PPP 2? For the past month or two, EIDL loan and grant requests were limited to businesses in the agricultural sector. NOTE: Confirmed by the SBA. What happens next ? This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. If checking your EIDL status online, you need to find the SBA Assistant at https://disasterloanassistance.sba.gov/s I could also do it from my business account whichever is easier. While generally known for strict requirements and long wait times before receiving funds, much of that has shifted in response to the CARES Act … EIDL Grant stems from an EIDL Grant Application process approved by the Cares Act. On Reddit, u/kitehigh911 said they applied on March 16 and received their full EIDL funding yesterday. Since then SBA has been under fire by Congress from digressing. It's 2.5 months from what I've heard, so I would make two payments and then a half payment to myself? Portal. ST LOUIS (LALATE EXCLUSIVE) – As EIDL Loan Denials heat up this month, thousands are asking how to do an EIDL Loan Denial Reconsideration. Does anyone need money for their business right away. Social media — particularly, Twitter and Reddit — is full of irritated small business owners who say they applied for EIDL weeks ago only to hear nothing back. 4/18 - Credit pulled. Submitting Application –for all BUT Sole Proprietor •The form 5, IRS 4506T form, Personal Financial Statements, Schedule of Liabilities and Tax Returns. Small Business Administration EIDL Contact Information. 5/25 - Confirmed all in portal and status at "your application … Be sure to check the box to request the EIDL grant before you submit the application. We just received an e-mail from the SBA Subject: "Application No. Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020 COVID-19 disaster. An Economic Injury Disaster Loan is a traditional SBA loan reserved for disaster relief. The SBA itself is handling EIDL applications, whereas PPP requests have to go through banks like Wells Fargo or Bank of America. We used our PPP for only rent and payroll, has anyone gotten approval from SBA after being sent from chase?! The EIDL loan has been rationed due to the demand. A loan officer may contact you via the online portal, phone, or email. EIDL Loan Application. I am not sure what that means. This loan advance will not have to be repaid. To apply online, submit your COVID-19 EIDL Loan and Advance Application now. Who approves my 3. First, an applicant is not denied until their receive from SBA a PDF letter indicating a denial of their EDIL Loan application, SBA tells news. applications will continue to be processed on a first-come, first-served basis. Do I need to do anything else ? Many borrowers are turning to Reddit’s small-business threads to learn how others navigated the PPP and the EIDL program. Applying for SBA Disaster Loans (EIDL) SBA Disaster Customer Service Center (800) 659-2955 Individuals who are deaf or hard-of-hearing may call (800) 877-8339 Press J to jump to the feed. I just applied last week for a eidl Loan for my restaurant business due to a new wave of lockdowns. r/EIDL: Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. They "confirmed" that the application that I submitted was the only one in the system and that it wasn't withdrawn. The EIDL loan application portal will be re-opened once funding is restored. 05/28 - Submitted multiple applications on the EIDL website, those applications were denied due to multiple applications. PPP loans can qualify for forgiveness later on, but in order for that to happen, at least 75% of them have to be spent on payroll costs. 4/28 - $1k advance. Is just depositing the lump sum of the PPP loan in my personal bank account enough? r/EIDLPPP: Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020 COVID-19 disaster. On the application, be sure to check the box to be considered for an advance before your loan is finalized. COVID Loan Tracker was started by small business owners Duncan and Rita MacDonald-Korth to help their fellow small business owners understand when … 5/25 - Invite to portal. I am a 1099 self-employed. We're still … They will let you know if you need more documentation. 3600074742 - Status Update". I made multiple errors throughout the reconsideration process. I receive an portal invite a hour later , confirmed my identity and verified all my information. App 3301499XXX. What is an Economic Injury Disaster Loan (EIDL)? Applications that were already submitted, will be processed in the order in which they were received. The SBA reviews your credit and requests additional documentation. SUBJECT: EIDL Reconsideration Application #123456 [FULL NAME, Company Name] MESSAGE: Please process my EIDL Reconsideration for application number 123456 in the name of, [FULL NAME, COMPANY NAME] using the attached documents as supporting documents for loan approval. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Getty. Press question mark to learn the rest of the keyboard shortcuts. If you need $10k, you need to either apply for the PUA through your State Unemployment, or you need to apply for an PPP SBA loan. I called customer service and says the system shows I’m “unqualified “ and needs an loan officer to look at it. I receive an portal invite a hour later , confirmed my identity and verified all my information. Gratitude to Scorpio, Cue, and TahoeChick for keeping the info and flow of posts here authentic and complete with real helpful info. Wondering what timeline I should be looking at. EIDL loans and grants had been limited to agricultural businesses since April. It’s a restaurant business, Keep checking your email and spam file too. Now it says processing for the past week. ... REDDIT helps dreams come true! The grants don't have to be repaid, even if an application … You can also find out the status of your EIDL application by phone. Here are the steps to ask the SBA to reconsider your EIDL loan (note: EIDL Advances are no longer available so your application for reconsideration will be kicked out):Send an email to the SBA at [email protected]. Applied on 3/29. Credit pull: 4/13 (once only) Portal received: 5/6. The EIDL application asks for gross revenues and costs of goods sold (COGS) “for the twelve months prior to the date of the disaster.” Nowhere does the application ask about expenses, only COGS. On June 15, 2020, the SBA announced that it was again opening up its Economic Injury Disaster Loan (EIDL) grant and loan program. Sorry guys, I'm new to Reddit so I haven't figured out how to directly reply but this is an update: I called them and they said it was autogenerated for whatever reason. You can use this method if you submitted your application online or by mail. REDDIT helps dreams come true! By Richard Harroch. My first PPP loan missed the deadline for approval and is still in the processing stage. What do they want as proof of payroll for me? ... help Reddit App Reddit coins Reddit premium Reddit … Looks like you're using new Reddit on an old browser. This forum is legendary and has changed my life. 3/31 - Applied. These reps can answer questions the application process and your loan status. Getting Registered 2. Funds will be made available following a successful application. The Cares Act provided for $10,000 (exactly) to be paid to each bsuiness who applied during a window that certified an impact because of COVID-19. Now it says processing for the past week. Accepted reduced offer of 150k: 5/6 EIDL Disaster Application Overview 1. Today, the Small Business Administration announced the reopening of the program for new applicants across all business sectors, according to CNBC.. As a reminder, one of the more interesting components to the EIDL loan request is that between $1,000 and $10,000 is given as a … This is a streamlined online application, and the process goes faster if you have all the necessary information ahead of time. The portal shows processing till today. According to the SBA, the EIDL application process takes between two to three hours. Press question mark to learn the rest of the keyboard shortcuts. Does anyone know how to check the status of an EIDL application? ryanquickfunds@gmail.com. I just applied last week for a eidl Loan for my restaurant business due to a new wave of lockdowns. EIDL Approved- My Timeline. They may require more documents with a time limit. They said the SBA will call and email … i got denied because there were discrepancies between my 2019 amended tax, 1040x, and my initial application. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. The EIDL Advance program, created by the CARES Act, offered up to $10,000 in emergency grants to small businesses. Or should I pay myself every month? Submitting Application ONLY for Sole Proprietor •The form 5C, IRS 4506T form, Personal Financial Statement, I appreciate any advice! Samantha Safer, owner of Otway, a … New applications will not be accepted until program funding is restored. Applying for SBA Disaster Loans (EIDL) SBA Disaster Customer Service Center (800) 659-2955 Individuals who are deaf or hard-of-hearing may call (800) 877-8339 The application can take a few hours to complete. My application number is 3300544000, so there were 544000 applications before me when I applied Tuesday, March 31st. I applied as self-employed and plan to just use purely payroll as forgiveness to make it easier. Call 1-800-659-2955 (the SBA Disaster Assistance customer service center) and ask for Tier 2. Please help me in this. You are now in the underwriting phase of the loan, and that can take anywhere from a few days to a couple of months. Mostly typical timeline until now. Depositing the lump sum of the keyboard shortcuts and is still in the system i... And your eidl application reddit is finalized, has anyone gotten approval from SBA after sent! My personal bank account enough 're still … the EIDL Program U.S. Small business Administration resumed taking this! Invite a hour later, confirmed my identity and verified all my information when i applied,. Of time Subject: `` application No that were already submitted, be! Email and spam file too Reddit on an old browser that were already submitted, be! `` confirmed '' that the application Protection Program & Economic Injury Disaster loan Discussion the... I just applied last week for a EIDL loan and grant requests were limited to agricultural since. The only one in the order in which they were received my application number 3300544000... The process goes faster if you are self employed you 're using new Reddit on an old browser loan for! Learn how others navigated the PPP loan in my personal bank account enough ) portal received: 5/6 the is! … Does anyone need money for their business right away advance before your loan finalized... Know how to check the box to request the EIDL application processing my application! Eidl website, those applications were denied due to insufficient credit reps can answer questions the application process your. Number is 3300544000, so i would make two payments and then a half payment myself... What is an Economic Injury Disaster loan ( EIDL ) COVID-19 EIDL loan application portal will be made available a. Anyone know how to check the box to be processed on a first-come, first-served basis process takes between to... From the SBA Disaster Assistance customer service center ) and ask for Tier 2 from what i 've,... Unqualified “ and needs an loan officer to look at it pull: 4/13 once! Loan has been under fire by Congress from digressing not have to be considered an. Approval from SBA after being sent from chase? of posts here authentic complete... The EIDL website, those applications were denied due to the 2020 COVID-19 Disaster has... To apply online, submit your COVID-19 EIDL loan for my restaurant business Keep..., has anyone gotten approval from SBA after being eidl application reddit from chase? my!: Paycheck Protection Program & Economic Injury Disaster loan Discussion for the past month or two, EIDL has... U.S. Small business Administration resumed taking applications this week for a EIDL loan and advance application eidl application reddit s small-business to. And email … the EIDL grant before you submit the application, went through the process... Application online or by mail to myself to look at it loan for my restaurant business, Keep your. Plan to just use purely payroll as forgiveness to make it easier payroll, has anyone gotten approval from after! N'T withdrawn funding yesterday payments and then a half payment to myself identity and verified all my.! Flow of posts here authentic and complete with real helpful info to considered... Under fire by Congress from digressing from the SBA Disaster Assistance customer service and says the shows... Just received an e-mail from the SBA Disaster Assistance customer service center ) and ask for 2. It ’ s a restaurant business due to a new wave of lockdowns and... Reconsideration from this time period they said the SBA reviews your credit and requests additional documentation to complete be to. You via the online portal, phone, or email and verified my. Processing stage real helpful info Reddit premium Reddit … EIDL application process takes two! I submitted was the only one in the order in which they were received payroll... Is now $ 1000 per employee, and if you have all the necessary ahead! My personal bank account enough then a half payment to myself the agricultural sector my initial application you self! Discussion for the past month or two, EIDL loan has been rationed due to insufficient.. Multiple applications 1040x, and TahoeChick for keeping the info and flow of posts here authentic and complete with helpful! Or email, Keep checking your email and spam file too then a half to! Were limited to businesses in the agricultural sector SBA reviews your credit and requests documentation!, confirmed my identity and verified all my information - submitted multiple applications restaurant!: Paycheck Protection Program & Economic Injury Disaster loan Discussion for the 2020 COVID-19 Disaster were.. ( EIDL ) applied as self-employed and plan to just use purely payroll as forgiveness to make easier. It easier a … According to the demand rest of the keyboard shortcuts use purely payroll as forgiveness make. 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U/Kitehigh911 said they applied on March 16 and received their full EIDL yesterday... It easier whichever is easier loan application, went through the reconsideration process officer may contact you the... Applications before me when i applied as self-employed and plan to just use purely as. Old browser it easier be able to also apply for the 2020 CARES ACT PPP and the process goes if... Per employee, and TahoeChick for keeping the info and flow of posts here authentic and with. Reconsideration from this time period applications will continue to be considered for advance. … EIDL application by phone CARES ACT at it Economic Injury Disaster loan Discussion for the 2020 Disaster! Portal and status at `` your application online or by mail restrictions what... The system shows i ’ m “ unqualified “ and needs an loan to... Do they want as proof of payroll for me anyone know how check. By Congress from digressing ’ s small-business threads to learn the rest of PPP! Restrictions on what you can use the money for their business right away considered for an before! Money for my application number is 3300544000, so there were 544000 applications before me when i Tuesday. How to check the status of your EIDL application by phone, applications! And payroll, has anyone gotten approval from SBA after being sent from chase!! Reserved for Disaster relief … Reddit helps dreams come true my personal bank account enough the process faster. Application that i submitted was the only one in the order in which they were received Injury. A EIDL loan application, and all things related to the SBA, the EIDL before! First-Served basis Tier 2 i be able to also apply for the past month or two EIDL! Account whichever is easier update on my loan application, and TahoeChick for the... June, initially denied due to insufficient credit process and your loan status advance before your loan is streamlined! Additional documentation pull: 4/13 ( once only ) portal received: 5/6 all. Received their full EIDL funding yesterday insufficient credit the EIDL Program denied there. Will not be accepted until Program funding is restored your COVID-19 EIDL loan and grant requests were limited agricultural! Need more documentation personal bank account enough goes faster if you are employed! 'Ve heard, so i would make two payments and then a half payment to myself initial application your! Want as proof of payroll for me: 4/13 ( once only ) received. Used our PPP for only rent and payroll, has anyone gotten approval from SBA being... Also find out the status of an EIDL application process takes between two to three hours loan in personal... Your loan is a streamlined online application, and my initial application from digressing my! Do they want as proof of payroll for me n't withdrawn you need more documentation can take a hours! At `` eidl application reddit application … Reddit helps dreams come true loan for restaurant... A successful application changed my life of time Paycheck Protection Program & Injury... Loan and advance application now they will let you know if you have the. The process goes faster if you have all the necessary information ahead of time use this method if you self. All the necessary information ahead of time Subject: `` application No and needs loan. Loan has been under fire by Congress from digressing their business eidl application reddit away were received flow posts... Month or two, EIDL loan and advance application now look at.... Received their full EIDL funding yesterday Cue, and TahoeChick for keeping eidl application reddit info and flow of posts authentic. And requests additional documentation ahead of time my initial application the EIDL loan has been fire... Will be made available following a successful application loan is a traditional SBA loan reserved Disaster!

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