Since then my account say " Your application is being processed " . sba eidl loan disbursement process Any help would be appreciated. I got my original EIDL loan March 2021. Credit is there. Tax returns. Im getting mixed signals about bluevine but I also kept my options open. My Service Canada Account: How to register with your bank 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. 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. As of May 6, 2022, the SBA is no longer processing EIDL loan increase requests or requests for reconsideration of previously declined loan applications due to a lack of available funding. ", Still in "Your application is being processed" hell, Scan this QR code to download the app now. Scan this QR code to download the app now. Reddit and its partners use cookies and similar technologies to provide you with a better experience. PDF F. #2021r00254 Eastern District of New York The Administration is . February 1, 2021. Your Application Is Being Processed Sba Loan Hows the timeline on that! Timeline to signing docs from "Your Application is Processing" when confirming and hitting that submit button. I called today and try to find out what is the status of the application. I would encourage you to try to reach out to the SBA to make sure your application is still being considered for the increase. The SBA has many loans you can apply for, such as 7(a) Loans, 504 Loans, and Microloans. 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. SBA Loan Processing Time: How Long Does the Process Take . Federal Register :: Disaster Loan Program Changes 242 0 obj <> endobj 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 . trey lance draft class. I keep looking in my portal and it says your application is being processed. PDF requently Asked Questions F Ive been on this status since 4/19 and it says everything is completed. Everythings signed. Find out what to expect after applying for an Economic Injury Disaster loan & how long you can defer. Once you accept the offer in the portal, your loan goes to the underwriting department. I've been told my transcripts were received and uploaded just this last Wed 9/1 by SBA District Office. I'm in recon due to credit since 7/22, this is from an original application back in May 2020. and our 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. The Economic Injury Disaster Loan and Loan Advance (EIDL) program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to the COVID-19 public health crisis. SBA EIDL Deadline 12/31: What it Means for Businesses in 2022 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. If your EIDL application is denied, you have six months from the date of denial to request a reconsideration. 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. Larger limit for SBA EIDL program. Economic Injury Disaster Loans (EIDL) had previously been capped at $150,000, then $500,000. Because of where my business is located my advance will be topped up to $10,000 or plus $7,000.
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