Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 176636 times)

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3555 on: April 07, 2021, 01:50:47 PM »
Are there any additional eligibility requirements for the increased EIDL loan ? I received the email from the SBA but no word on that.
They could request documents if they didn't request anything from you the first time around.
The calculation seems fairly straightforward- whereas before you got 50% of your gross sales, you'll now get 2X.

Online AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3556 on: April 07, 2021, 02:04:45 PM »
KYB?

Similar to KYC (Know Your Businsss/Customer). Banking regulations, officially in place for anti-terror and anti-money-laundering, require the bank to collect, verify, and sometimes report, certain customer information.

Offline ExGingi

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3557 on: April 07, 2021, 04:10:36 PM »
Got the SBA EIDL increase email today. Responded with needed info. Didn't get an auto reply or confirmation email for the first hour. (checked all folders)

I noticed that when I clicked on the email address on the SBA EIDL increase email in order to send the request, it put a '+' ahead of the email address when composing the message. IINM GMail ignores anything following a + in an email address, so your email might have not been sent altogether. IDK if ignoring + on the email address also applies to outbound email. In any event, I suspect that might be the issue.

I just sent email increase requests for 3 EIDL loans I have. I didn't receive any auto response yet.
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Online yitzf

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« Last Edit: April 07, 2021, 05:18:36 PM by yitzf »

Offline Fish Tank

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Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3560 on: April 07, 2021, 04:55:01 PM »
one bank does not want to disburse PPP2 funds due to KYB error. nobody to talk to resolve it. how can i get them to disburse funds or withdraw from sba so i can apply elsewhere?
Looks like your only option is to withdraw and go elsewhere- you'll need to talk to someone at the bank to get it done.

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3561 on: April 07, 2021, 05:19:08 PM »
Link doesn't work.
Tx. Fixed in original post.

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Offline nafnaf12

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3563 on: April 07, 2021, 08:09:01 PM »
There are one or more inconsistencies or alerts on your application which require us to verify your identity over the phone with “out of wallet” questions based on your credit report
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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3564 on: April 07, 2021, 08:16:15 PM »
There are one or more inconsistencies or alerts on your application which require us to verify your identity over the phone with “out of wallet” questions based on your credit report

EIDL targeted advance?

Online yuneeq

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3565 on: April 07, 2021, 08:22:21 PM »
Got the EIDL email as well. Pretty awesome. Replied to it earlier but didn’t get a response yet.

Offline nafnaf12

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3566 on: April 07, 2021, 08:47:09 PM »
EIDL targeted advance?
yes
Anyone else get the same email?
What questions should I expect
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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3567 on: April 07, 2021, 09:56:36 PM »
yes
Anyone else get the same email?
What questions should I expect

Many people get approved with no questions at all. Did you sign the 4506-T and make sure to hit submit/apply after you did?

Offline nafnaf12

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3568 on: April 07, 2021, 10:03:53 PM »
Many people get approved with no questions at all. Did you sign the 4506-T and make sure to hit submit/apply after you did?
yes
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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3569 on: April 07, 2021, 10:05:12 PM »
yes

Then you wait and see. Lots of people get approved for the targeted advance without even getting an email, could take a while. And funding is another wait after that.