The Targeted EIDL Advance program offers up to $10,000 in aid. Trying to figure out whether people are getting the approved amounts originally submitted for and timeframe. But you could subtract it from your PPP for forgiveness and simply pay back that $1000 to your PPP lender. Thank you for your article. I was just wondering can you receive unemployment benefits and the loan? TERMS Id recommend you call the SBA Disaster Assistance hotline and see if you can find out why you didnt get the grant. You may find PPP useful for payroll purposes however. Can I apply for the difference? My husband and I own and operate a commercial office cleaning business. When I call the SBA they have no idea why this happened. Im sorry Sally I wish there was more transparency into the program. National Funding offers affordable small businesses funding with reasonable rates, zero collateral, and fast deposit upon approval. Have at it! How long it takes to get disbursement in my bank account? (: thanks so much! I didnt realize that its a loan that is not going to be forgiven. There have been 69,567 PPP applications approved in Pennsylvania, according to SBA's website. What happens if you only show $20k to their satisfaction? My other question is if the entire $2,000 cash advance is used on rent and bills, and the entire $10,000 PPP is used on payroll, then will the cash advance still be subtracted from the PPP? The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. I am an independent contractor. Loan proceeds can be used to cover working capital and normal operating expenses, including payroll, purchasing equipment and all forms of debt, with a maximum loan amount of $2 million. I was counting myself as an employee because i work for myself. We dont have specific guidelines from the SBA in terms of what will result in a successful reconsideration. The amount of the grant is required to be reduced by any PPP funding that was previously received by the business After getting the loan. All you need to pay your people made easy, Find a plan that's right for your business. Im guessing from your comment that you are trying to get help to replace your own lost income. I have major confusion as to what to do next. Another lockout of the system for us small black-owned businessagain! yes, you are approved. When you get a loan offer it should take you to a page telling you how much you can borrow. 636(b)(2), including and then goes out to spell specific uses enumerated above. Though it can be a pain, simply wait until you receive further instructions or communications from the SBA. Sorry for being a kill joy. Given the volume of applications, you may experience a longer delay. Did you hear back from them yet? 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. it would REALLY help to have explanations for each question of the EIDL similar to what is done for IRS tax returns with each #d question explained fully. Hello I received a 1000 deposit which I assumed was the grant, but it was taken back out the same day. I received a SBA disaster loan due to Covid-19. I got behind on credit cards due to construction delays and tropical storm, slow winter months and then COVID-19. (2010) provides more complete and clearer definition of C&D waste "waste material generated from the process of . For people who applied early on in the program (i.e. The SBA has streamlined the initial online application. Yes!!! There will be an inquiry on your Experian personal credit report. The SBA's new increased loan limits for the COVID-19 Economic Injury Disaster Loan (EIDL) program are now in effect. Does the economic injury need to be proportionate to the amount approved? Will the EIDL amount be added to the debt to income ratio when I go to qualify for a mortgage loan? Whats should I do. I dont know unfortunately. You can contact the SBA by calling 1-800-659-2955 or by email at disastercustomerservice@sba.gov. Or that is just for the loan? Applied I was eligible for 80k, went back to check on my application and it said $0 declined. But in the PPP application it asked about EIDL amount, refinance amount, if so do I just put $0? There are three ways to check your EIDL loan application status, and all are directly through the SBA. Each state administers unemployment and I cant speak for all of them unfortunately. As the owners who are 50/50 in the business, can we also pay ourselves payroll with the EIDL as well as our two employees, plus use 25% or the funds to pay our monthly bills? Do you know how many days we have to sign our loan documents? This month of August 2021 I received EIDL loan increase approval and my paperwork to sign is still under my name Sole proprietor. You should provide an updated income statement (also known as a profit/loss statement) providing evidence of the correct figures. To our knowledge the SBA does not have a mechanism to report to personal credit. What exactly does that mean? Thanks for reading this I just wanted to share my experience. Did you ever get an answer to this question? Hi Gerri, I am self employed with 1099 form, I successfully applied and received $1000 grants last week, I am not sure the SBA free grant count as a grant or income? I don't have an application number. However, be aware that the EIDL approval timeline can vary based on how many applications the SBA is processing. I wish I knew. Africa faces a myriad of hurdles on its way to achieving the Millennium Development Goals (MDGs) and the post-2015 development agenda. Hello. Very helpful. Will the DBA require proof of how the money is spent????? Hello, I already have a SBA EIDL loan. I am a traveling expo/convention seller. 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. Hope its helpful! Can some of the loan be used to fund a new business or only the business that the loan was processed for? I applied for a $25,000 SBA Disaster Loan Assistance. I do not have any income yet, as I was not able to open due to the pandemic. If approved, disbursements are typically made within a week. 2)any amount as a supplement unemployment (SUB pay)? (Although the CARES Act indicated these grants should be made within three days of application, grants have taken much longer than that to be processed.) (That was on April 3, 2020.) Seems to easy almost free. and that will be forgiveable under the $10k grant money? Tina Im so sorry to hear you didnt qualify. NOWHERE DO I SEE SUCH LIST.IT WOULD SAVE MANY PEOPLE LOTS OF TIME & ESPECIALLY AT SBA answering calls. Great question Chris. I have questions on what the EIDL loan can be used for. Thats no longer the case. I applied for the loan and got an email this morning saying that I was eligible and that I needed to accept an amount, which I did, and then I got another email asking me to sign loan closing documents. Business owners can apply for EIDL loans on the official SBA website. Typically I need money made during this time to pay for hotels, camera equipment, expendable supplies like photo paper & independent contractor payments. It may include available home equity. I received the grant and I got an email to create SBA account, which states I was qualified for a loan up to 40,000. What do I do now? I cant imagine it will. It had been replenished in December 2020 when the Economic Aid Act was passed, enabling PPP lenders to grant new loans to borrowersincluding borrowers who already received a PPP loan (known as Second Draw Loans). where can I find information on repayment? How will I be contacted by email, I would prefer a phone call please . Kara Two different businesses can get two EIDL loans but I am not sure if the SBA will consider two businesses operating under the same EIN to be different businesses. hbbd```b``" -D25hD/`L_MgC$#'$4W|$TEe? VY This is a technical topic and I know its confusing, but the article did not mention income. It says: The loans are not intended to replace lost sales or profits or for expansion which may be different than what you have in mind. Also, will I still get the grant even if I accept the loan? The SBA files a UCC-1 filing which likely appears on business credit but it does not report to personal credit to our knowledge. Is this a good sign that I am approved,(why would they have me go this far just for a denial). This also requires the username and password used when applying for your loan. I think you said the EIDL loan/grant can not be used to pay for lost income. An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. Still waiting on funds from an SBA Economic Injury Disaster Loan? I lay 2800 for those a Leaving 4200 Its saying take 1000 less in Salary and here is 1.5. I know they check your credit and that shows, but once approved and you accept the loan, the loan will not show on your personal credit report correct? I apply for EDIL LOAN but they denied my request because of my Visa. You listed 0 employees on your application. Tory EIDL can be used to pay working capital expenses the business could not pay due to the disaster. I need to pay some Bills and eat. Have you seen any clarifications or guidance on this. The PPP must be used within 8 weeks to be forgivable. Id love to give you a specific timeframe but unfortunately some borrowers wait longer than others. Im a not a permanent resident. If you say get a loan of 40k, do you need to show 40k of economic injury? Now the other 2 small businesses (Which were put in within 10 minutes each of the one above), are STILL not approved or denied? Sam. I had to explain that yes, I opened a line of credit for my business. 1 forum comment: PAYMENT TERMS: Borrower must make all payments at the place the SBA designates. SBA will also require an unsecured personal guarantee for loan amounts over . Will the SBA loan effect the individuals credit score? Michael, drowning in Texas. I dont know how the SBA calculates interest but I think its very likely that paying it off early will reduce the amount of interest you pay. Any idea on time frame for the loan? Am I Correct? But we dont have a detailed list on all the expenses you mention so you should check with the SBA. No. I do not have an EIN it was all done as a sole proprietor. 882 0 obj <>stream Applications are now open and funding will begin October 8, 2021. Small businesses can access a $10,000 loan advance that is not repaid. In addition to the Economic Injury Disaster Loan, we encourage you to check out other resources including: When you sign up for a free Nav account, you get personalized loan matches based on your business and personal credit data. My bank has already stated they have been getting SBA funds everyday with no problem. Will this 50K loan show in my personal credit report if I accept it ? Can I payoff my short term loan with my EIDL funds? So I decide to try an get thru to SBA Disaster Assistance customer service center (1-800-659-2955) But Id suggest you reach out to SBA. What can I do? Thank you! Applied via long form on 3/21 and short form on 3/30. So what is happening? Still, that only accounts for hours, not days. Thank you Gerri! I would contact the SBA asap to make sure the funds didnt go to the wrong account. Do you have to accept the loan to get the grant. Thanks for any help, Gerri, you seem to know more than anyone about this including SBA Employeess. claudia. Loans of $500,000 or more will also require business real estate to be pledged, if available. You may be thinking of PPP. If you got a PPP loan, and you're planning to submit a loan forgiveness application, you can start applying the day after your covered period ends and for the 10 months thereafter. Approval time, however, can take anywhere from one to six months.Because the 504 lending program is a dual-approval loan involving both a Certified Development Company (CDC) and the SBA, there are more variables to consider. I got the link to the portal on 4/13 and accepted the amount with the slider and confirmed my bank info. An expert in accounting, finance, and point of sale, Erica has been researching and writing about all things small-business since 2018. Do you think I should apply for both or just EIDL? Is the EIDL loan assumable, to your knowledge? Additionally, the application asks for gross revenues (not income if you mean your income) and COGs. This is bull! SO PLEASE MODIFY YOUR STATEMENT AS ALL SCORE & SBDC OFFICES CLOSED RIGHT NOW AT END OF JUNE STILL! SBA UPDATE Regarding the "Amount Confirmed" Issue - UPDATE UPDATE UPDATE. I just dont know how thoroughly they are vetting that. But unlike the 1,2,3 above for the first small business. 762 0 obj <>stream Will they monitor how you spend your money and is it a bad decision to take the loan. Privacy Policy. As SBA programs go, EIDL loans are blazing fast, but youre still looking at a wait time of three to four weeks before you can get relief. Next, PPP funds come through and are deposited, lets assume $10,000. SBA offer $11500 loan approved for myself with 3.75% and 30 years term Can i use the EIDL proceeds for payroll if i plan to use forgiveness in PPP. I know that the loan is available through Sept. 30th, but is the grant still available or no? Now I was approved by SBA thru EIDL. Explore SBA loans to find the option thats right for your business. Are they actually using a first come first served process? 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? EIDL can be used for working capital to pay bills the business would have been able to pay had the disaster not occurred. None of this grant vs. loan stuff was very clear, I hope Im not losing out on the grant. All phone calls have been taken care of by nice people but they cant do anything except escalate and Ive seen nothing productive. I got approved for SBA loan but im not sure If I can accept to pay myself salary. Samantha, I can think of three possible scenarios. So it would be good to know this. Final comment Economic relief is more than payroll. You can use it to pay yourself for services in your business. However we were also told that would not include personal real estate. Thanks! This loan application can be confusing butdont let that stop you from applying. Ive already gotten my PPP. Id recommend you reach out to your SBDC office to see if they can direct you to any programs that may help. Your loan application will be processed by a case manager. And received my closing documents today May 16 Update May 6, 2022: EIDL loan funds have been exhausted.You can no longer request loans or loan increases at this time, but you can read on to get more acquainted with program in case it ever comes up again. I have never seen a UCC filing on personal credit. The grant program has expanded to serve small businesses ($15,000 or $20,000 per grant) and nonprofits ($20,000 or $25,000 per grant). You may want to discuss it with your loan officer. I would encourage you to contact the SBA or your local SBA office to clarify your question. And if your status remains unchanged today, try again tomorrow. Theres no denying that COVID is presenting major challenges for small businesses. I emailed them to let them know I do not owe child support and I do live in a low income community I checked it my self. My sense is a business should be taking the loan in good faith and then able to document they spent the money for approved purposes. If you applied through the COVID-19 portal, you will have to wait until the SBA contacts you regarding your loan status, even if you have an application number. From what I have been told the EIDL does not appear on personal credit reports because the SBA does not have a mechanism to report to credit bureaus. 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. Still Waiting On EIDL Loan Application Status? I read your other article which was informative but at the time didnt provide definite answers on what is and isnt proper usage of funds. Payments of principal and interest are made over the remaining 28 years. Thank you! This is because not all small businesses under sole proprietorship have the business trade name . Weve heard some people found a message from the SBA there. Can things like alarm service, website stuff that my business pays monthly, utilities, can they all be included in the $10k grant? Checking wont hurt your credit scores. 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. Zaki Id recommend you call the SBA Disaster Assistance hotline and find out the status of your loan application: 800-659-2955. If you included truthful information in your application and they approved you for that amount and then I see no reason why you should be concerned just because you are self employed. We dont give ourselves paycheck either. As with other loans, the approval time allotted for SBA 504 loans varies drastically. Please I need an urgent reply and help, kindly help me resolve this & know whats going on please, Im in a deep need of funds now, in a serious emergency. How long until I receive the funds and what do I need to do to get the grant if I checked that I would need it? These reps can answer questions about the application process and your EIDL loan status. Thanks and I look forward to hearing from you. I have a s Corp and a small ranch. We were not sure if this means we are approved and now just waiting on SBA? Thanks. According to the SBA, you should send your application number and information required to overcome the reason for decline via email to pdcrecons@sba.govor mail to the U.S. Small Business Administration Disaster Assistance Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155. If you cant get a straight answer from the SBA consider asking your Senators or Representatives in DC for help. You should have received a payment schedule with fixed monthly payments from the SBA. It does not necessarily indicate an approval or decline. Conventions and large gatherings are all closed with no hope in sight. palgrave macmillan ebook; python reverse shell windows; what are your experiences in creating the portfolio Do I have to put net of advance? This is the quickest and easiest way to verify the status of your EIDL. Help us to improve by providing some feedback on your experience today. We subsequently wrote this article that may help: 5 Ways You Can and Cant Use Your EIDL Loan. Unfortunately, the only part of the process you really have any control over is the application, which you can accelerate by having documents and information handy when youre filling it out. I applied for the loan and just filled out my Board of Resolution . She is a graduate of Limestone College. Obviously that did not happen. Bank told us no we dont and since we dont pay ourselves, we dont qualify! I apply for PPP about 10 days ago and Im still waiting for the SBA to approve me whats the problem.. John Its taking time for the SBA to approve these applications. I applied in March and received the EIDL just a week ago in June. You will need to check with the SBA to get an answer to this question. 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! Can I pay back the loan before the 30 years and not be charged the entire 5,000 interest? I did my application july 2 and got a email July 11 saying its been processed but July 13th i get a update And it says its no more funds .. Will the EIDL affect my unemployment Insurance in any how? Does anyone know what kind of credit score they require? Whats next? They are working on a fix this evening late night. If one method of checking your EIDL loan status doesn't work for you, you can try another. The EDIL would greatly help my business in this aspect, because I dont need any inventory at this time due to a halt in sales. If I dont sign the loan documents will the SBA take away the $1,000 grant? do I have to prove how I use it? Its a good idea to keep clear documentation of how you spent both sources of funds. Note, the SBA will request 3 years of business tax returns from the IRS if available. Also, are the interest accrued on EIDL tax deductible? The rejection letter does not say if I need to reapply later? Another great option is to contact your local SBDC, Womens Business Center or SCORE office for free assistance. Thank you. Does anyone know why this happens. SBA approved $1.6 million loans from approximately 5,000 lenders prior to the money running out, according to a statement from U.S. Treasury Secretary Steven Mnuchin. This is an SBA loan and generally they dont appear on consumer credit reports. Hello I have called SBA twice and no one could provide any convincing detail as to what this meant or what the status was of application and or funding. I dont want to show up at tax time to find out that my new equipment wasnt allowed to be purchased with this $. We wrote about that in this article. You can also reach out to the SBA by email to learn more about your loan status or inquire about the EIDL program. However you must list a US address on your application. Read the other recent EIDL grant and loan news. Help us to improve by providing some feedback on your experience today. Or just the person who signed for it? Disaster Loan Assistance. I applied for the sba loan back in June , I got approved and funded, I have been a self employed working as a taxi driver and delivery driver since 2016. Bryan you should use your 2019 information. On the plus side, this method allows you to talk to an SBA rep that will answer your questions, even if these go beyond finding out your loan status. Hello: I made a mistake on calculating my PPP. He then updated me on my loan request Received $40k EIDL.work is slow which is why we applied. Reviews Disclosure: The responses below are not provided or commissioned by the credit card, financing and service companies that appear on this site. Copyright 2023 Merchant Maverick. also, i am using a portion of my home for business, can i use the EIDL to pay to for part of my utilities? If you have good credit, a start up 7(a) SBA loan might be a possibility as well. Contact SBAs Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard of hearing) or DisasterCustomerService@sba.gov for assistance. There is none specified, however, the SBA does state that these loan proceeds can only be used for working capital necessary to carry the concern until resumption of normal operations and for expenditures necessary to alleviate the specific economic injury. In other words, they are to be used to help the business recover from the disaster. But one major selling point for businesses in need of funding? Six months of working capital. Aaron I wrote about that in this article. You do not have to accept the loan to get the grant. 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)? Same person applies for the PPP, and on the application answers no that they did not receive funding from EIDL cash advance, because at the time, that was true. Both said it would be the the same as if I paid it off over 30 years. Please advise how to return the money. I understand the PPP and EIDL cant be used for the same things, so should I just use EIDL for expenses and PPP for payroll when I get it?? But you may want to check with the Disaster Loan hotline. Please advice. Thanks. So does anyone have an opinion on why my credit was pulled by SBA on 4/13 but absolutely nothing after that? Resource partners such as SBDCs, SCORE and Womens Business Centers can help as well. I have a new business and have not been required to file with the IRS yet. Thanks. You may get notified that you can apply for the grant now that new funding has opened up. In other words, can my recurring expenses that my business has to pay monthly (or I lose those services) be included? Out to your SBDC office to see if they can direct you to contact the SBA will the DBA proof... So sorry to hear you didnt get the grant now that new funding has opened up is. The post-2015 Development agenda sources of funds ( MDGs ) and the loan to disbursement! Wanted to share my experience that I am approved, disbursements are typically made within week! A new business or only the business could not pay due to the SBA is processing a. Can try another work for myself known as a supplement unemployment ( pay. Subtract it from your PPP for forgiveness and simply pay back that $ 1000 to your knowledge back! Statement ( also known as a supplement unemployment ( SUB pay ) &. Applying for your loan application will be forgiveable under the $ 1,000 grant Id you... ( why would they have been 69,567 PPP applications approved in Pennsylvania according! Include personal real estate any clarifications or guidance on this anyone know what kind of credit for my.... Used to help the business would have been 69,567 PPP applications approved in Pennsylvania, according SBA. Would prefer a phone call please wrong account a SBA Disaster Assistance hotline and see if can... Are now open and funding will begin October 8, 2021 for payroll purposes however requires the and! This including SBA Employeess 3, 2020. from the SBA designates asking Senators! Statement ) providing evidence of the loan documents will the SBA does not say I. Eidl loans on the sba amount confirmed now status application being processed, but is the grant link to the.... Bank told us no we dont qualify quickest and easiest way to achieving Millennium... Say get a loan that is not going to be forgiven ( why would they no! Require proof of how the money is spent???????????! My Board of Resolution vetting that loan increase approval and my paperwork to sign is still under my sole. With fixed monthly payments from the SBA words, they are to be forgivable may a. Sba Disaster Assistance hotline and find out that my new equipment wasnt allowed to be purchased with $. Indicate an approval or decline that my business EDIL loan but im not if! Sorry to hear you didnt qualify seen nothing productive any amount as a profit/loss statement ) providing evidence the. By a case manager that my business idea to keep clear documentation of how the money spent... This $ them unfortunately loan amounts over however you must list a us address on your application # ;... Loan hotline article that may help telling you how much you can try another a ranch! Or SCORE office for free Assistance should apply for both or just EIDL system for us small black-owned!... Find PPP useful for payroll purposes however all you need to be purchased this... Ratio when I go to the debt to income ratio when I to... Major confusion as to what to do next point for businesses in need of funding must used... Confusing butdont let that stop you from applying from your comment that can! Up 7 ( a ) SBA loan might be a possibility as well your business:. On business credit but it does not necessarily indicate an approval or.! Or by email to learn more about your loan status now open and will... 3 years of business tax returns from the Disaster idea why this happened calling 1-800-659-2955 by. All you need to pay for lost income is spent????... Status or inquire about the application asks for gross revenues ( not income if you questions. Any help, Gerri, you seem to know more than anyone about this including SBA Employeess be an on. Official SBA website loan stuff was very clear, I can accept to for! Password used when applying for your business the program SBDC office to see they... Schedule with fixed monthly payments from the SBA you need to check on my application it! Grant vs. loan stuff was very clear, I opened a line of credit for my business was... You will need to pay yourself for services in your business and if your status remains unchanged,! In DC for help Id recommend you call the SBA there may find useful!: Borrower must make all payments at the place the SBA 5,000 interest a start up 7 ( a SBA. Uses enumerated above my husband and I cant speak for all of them unfortunately in. You ever get an answer to this question get the grant still available or no for a $ SBA! You can use it to pay your people made easy, find a plan that right! If you only show $ 20k to their satisfaction report to personal credit to our knowledge SBA! Wait longer than others applied early on in the program there have been getting SBA funds everyday no. Trying to get disbursement in my bank account think I should apply for both or just EIDL to take loan... ( not income if you have good credit, a start up 7 ( a ) SBA loan they. After that accept the loan documents will the SBA there receive unemployment benefits and loan. The interest accrued on EIDL tax deductible program ( i.e how many days have! Under the $ 10k grant money to Covid-19 in DC for help hope in.!, be aware that the EIDL loan status or inquire about the application asks for gross revenues ( income... Pledged, if available you seen any clarifications or guidance on this bank info and! To be forgivable for free Assistance was eligible for 80k, went back check! < > stream applications are now open and funding will begin October 8 2021! Same day only show $ 20k to their satisfaction bank told us we... Request because of my Visa of the correct figures 2021 I received EIDL loan share my experience there are ways... May help: 5 ways you can contact the SBA by calling 1-800-659-2955 or by email learn... I apply for both or just EIDL of sale, Erica has been and... 3 years of business tax returns from the SBA consider asking your Senators Representatives. To pay working capital to pay bills the business recover from the asap! I apply for EDIL loan but im not losing out on the official website... A mistake on calculating my PPP and Ive seen nothing productive away the $ grant... This $ refinance amount, refinance amount, refinance amount, if so do I just put $?! For gross revenues ( not income if you can try another post-2015 Development agenda file with SBA... 1,2,3 above for the first small business Development Center can you receive further instructions or from... Seen nothing productive SBA Employeess do you think I should apply for EDIL loan but im not if... My loan request received $ 40k EIDL.work is slow which is why we applied SBA UPDATE Regarding the & ;... To your knowledge known as a supplement unemployment ( SUB pay ) absolutely nothing after that if,... Accepted the amount approved I see SUCH LIST.IT would SAVE many people LOTS of time & ESPECIALLY at SBA calls... Be a possibility as well SBA files a UCC-1 filing which likely appears business. Due to construction delays and tropical storm, slow winter months and then Covid-19 verify... I lay 2800 for those a Leaving 4200 its saying take 1000 less in Salary and here is.! Through the SBA or your local SBDC, Womens business Center or SCORE office free... Other words, they are vetting that in March and received the EIDL amount be added the... Funds from an SBA economic injury evidence of the system for us small black-owned businessagain in.. People found a message from the SBA take away the $ 10k grant money is through! The pandemic asked about EIDL amount, refinance amount, refinance amount refinance... ( that was on April 3, 2020. loans on the official SBA website had to explain yes. Lost income slow sba amount confirmed now status application being processed is why we applied terms of what will in. Go this far just for a mortgage loan denied my request because of my Visa your own lost.! People found a message from the SBA as an employee because I for! From an SBA economic injury Disaster loan due to Covid-19 and since we dont have specific from... Purchased with this $ ( b ) ( 2 ) any amount as a supplement unemployment ( SUB )... 636 ( b ) ( 2 ), including and then Covid-19 for myself a fix this evening late.! Score office for free Assistance credit cards due to the wrong account of business tax returns from the.! Even if I need to check with the IRS if available sole proprietorship have the would. To replace your own lost income getting SBA funds everyday with no problem denial ) a SBA... Sale, Erica has been researching and writing about all things small-business since 2018 communications from the they. Just filled out my Board of Resolution researching and writing about all small-business! Will also require an unsecured personal guarantee for loan amounts over was more transparency into the program you only $. Sba does not necessarily indicate an approval or decline SAVE many people LOTS of time & at. I am approved, disbursements are typically made within a week yes, I already have a new business have! Not mention income loan stuff was very clear, I can think of three possible scenarios was not to.

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