Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 535997 times)

Offline TBD

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3960 on: June 11, 2021, 01:13:18 PM »
Any info on Dime bank?
You should have received a link to the forgiveness portal and get set up. From email IItu@dime.com

Offline YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3961 on: June 15, 2021, 12:16:22 AM »
I'm applying for PPP forgiveness through Biz2Credit, and after eSigning the form, it asks me to upload supporting documents, giving me a list of tens of options. I am a sole proprietor, and I used all the money for self-payroll. What should I upload.

Quote
Please provide as many of the following documents as you are able to support your PPP forgiveness application. The more documentation you provide the better chance your application has of receiving a fully forgiven decision by the SBA. Payroll documents are required to proceed with a forgiveness application. The application will not be submitted to the SBA if you are missing any required types of documents from this list.

Can I just upload bank statements?

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3962 on: June 15, 2021, 12:17:17 AM »
I'm applying for PPP forgiveness through Biz2Credit, and after eSigning the form, it asks me to upload supporting documents, giving me a list of tens of options. I am a sole proprietor, and I used all the money for self-payroll. What should I upload.

Can I just upload bank statements?

I applied as well and I don’t remember them asking me for docs, hmmm
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Offline YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3963 on: June 15, 2021, 12:21:36 AM »
I applied as well and I don’t remember them asking me for docs, hmmm
It logged me out when I did the docusign. But when I logged back in, there was still one step left.

Did you get forgiveness?

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3964 on: June 15, 2021, 12:23:34 AM »
It logged me out when I did the docusign. But when I logged back in, there was still one step left.

Did you get forgiveness?

I only recently applied, gonna log back in and see what they’re saying.

Officially below $150k was supposed to be a single page self-attested forgiveness.
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Offline YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3965 on: June 15, 2021, 12:30:01 AM »
There is also a button all the way at the bottom of the document area that says "submit". It seems like it's not done until you click.

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3966 on: June 15, 2021, 12:32:34 AM »
Thanks @YitzyS for alerting me to this.

There is also a button all the way at the bottom of the document area that says "submit". It seems like it's not done until you click.

Yup, I clicked and it told me I needed to submit at least one document.

@cgr, can you please provide some guidance on what Biz2Credit is expecting here? I thought the whole point was that forgiveness was just a single page application.
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Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3967 on: June 15, 2021, 09:32:35 AM »
Thanks @YitzyS for alerting me to this.

Yup, I clicked and it told me I needed to submit at least one document.

@cgr, can you please provide some guidance on what Biz2Credit is expecting here? I thought the whole point was that forgiveness was just a single page application.
Upload your Schedule C used to compute your loan amount (thanks @skv)

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3968 on: June 15, 2021, 09:35:23 AM »
Judges Halt Race and Gender Priority for Restaurant Relief Grants
Approvals for thousands of Restaurant Revitalization Fund applicants were rescinded after court orders struck down a policy that favored historically underserved groups.
https://www.nytimes.com/2021/06/14/business/restaurant-relief-fund-covid-sba.html

Offline dovy2

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3969 on: June 15, 2021, 05:21:31 PM »
I'm still waiting for my targeted advance, it's been more than 5 months!
Already 2 months since I signed and sent the tax form. I tried emailing and calling... No luck!

Offline YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3970 on: June 15, 2021, 06:11:01 PM »
I'm still waiting for my targeted advance, it's been more than 5 months!
Already 2 months since I signed and sent the tax form. I tried emailing and calling... No luck!
Oh my! Is this standard?

Offline Ver hut gazugt

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3971 on: June 15, 2021, 06:48:56 PM »
I'm still waiting for my targeted advance, it's been more than 5 months!
Already 2 months since I signed and sent the tax form. I tried emailing and calling... No luck!

I finished signing up a week ago and got funded today.
Did you click the blue button to submit the application ?

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3972 on: June 16, 2021, 11:06:30 AM »
All businesses located in a low-income community who believe they qualify for the Targeted Grant can now apply for the EIDL loan to generate the Grant invite.
You do not need to accept the loan to receive the grant.

Offline Buruch

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3973 on: June 16, 2021, 11:38:08 AM »
You do the full application, and when it's approved, just don't sign it?

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3974 on: June 16, 2021, 11:41:43 AM »
You do the full application, and when it's approved, just don't sign it?
Correct.

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3975 on: June 16, 2021, 11:42:41 AM »
All businesses located in a low-income community who believe they qualify for the Targeted Grant can now apply for the EIDL loan to generate the Grant invite.
You do not need to accept the loan to receive the grant.
https://www.sba.gov/funding-programs/loans/covid-19-relief-options/eidl/targeted-eidl-advance-supplemental-targeted-advance

Offline dovy2

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3976 on: June 16, 2021, 12:43:01 PM »
I finished signing up a week ago and got funded today.
Did you click the blue button to submit the application ?
Yup. Called again yesterday, rep was like, "if you didn't get an official apology from us for the delay, I'll give you one... We're so sorry for the delay..."

Offline Buruch

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Offline TBD

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3978 on: June 16, 2021, 02:36:25 PM »
All businesses located in a low-income community who believe they qualify for the Targeted Grant can now apply for the EIDL loan to generate the Grant invite.
You do not need to accept the loan to receive the grant.
But you will need to provide a 2019 return, correct?

Offline bubkiz

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3979 on: June 16, 2021, 02:53:54 PM »
Do the 8 weeks of reduced income need to be consecutive or would 2 non consecutive months of reduced income qualify?
Also, if a business opened in November 2019 - can it still qualify based on income from Nov/Dec 2019 and the first 2 months of 2020?