Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 62065 times)

Online cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2085 on: Yesterday at 02:42:38 PM »
Someone got approved for 50K EIDL LOAN, He send in Tax return to appeal the amount to receive more, while calling in to check his status, they told him that still no update, however If he won't accept his current amount, the 30 days will pass and his funds will expire? Is it true? If funds expire can you apply again with the updated information?

I was told multiple times that the loan must first be accepted in order for an increase to be processed.

I'm not sure about filing again- it might require a call to revive the application since the system will most likely kick any new applications as duplicate.

Offline thebudgetdeals

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2086 on: Yesterday at 02:58:53 PM »
I was told multiple times that the loan must first be accepted in order for an increase to be processed.

I'm not sure about filing again- it might require a call to revive the application since the system will most likely kick any new applications as duplicate.
Do you know someone who actually got an increase with an appeal?

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2087 on: Yesterday at 05:32:48 PM »
Do you know someone who actually got an increase with an appeal?

No. In the process with a few but no one has actually gotten to the additional funding stage. I'm going to have a talk with the guy who's farthest along with the process to see if he'll do a follow up and if he does I'll track how long it takes.

Offline WhiteWolf

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2088 on: Yesterday at 06:35:39 PM »
Yes. I accepted by mistake and now having a hard time figuring out how to pay it back immediately
Go to pay.gov
And make a payment through  Form Number:1201
You can open up a account on https://caweb.sba.gov/cls/dsp_login.cfm to see the loan and how much is left!

Offline cholent

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #2089 on: Yesterday at 09:15:09 PM »
Go to pay.gov
And make a payment through  Form Number:1201
You can open up a account on https://caweb.sba.gov/cls/dsp_login.cfm to see the loan and how much is left!
Thank you! Much appreciated
Don't ask stupid questions and you won't get stupid answers