Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable) (Read 548317 times)

Ver hut gazugt · « **Reply #4080 on:** July 09, 2021, 01:33:33 PM »

Quote from: YitzyS on July 09, 2021, 10:55:14 AM

Is there anyone who applied for an EIDL Targeted Advance recently and got approved? I applied about 5 weeks ago and I’m trying to figure out their timetable.

I did about a few weeks ago went really fast I think a week or two. They had my taxes because I also applied for an increase.

bubkiz · « **Reply #4081 on:** July 09, 2021, 01:43:50 PM »

Entity got denied because " the business is "a lending or investment concern".
This is not correct - however I may have checked that off when I applied in back in April 2020.
Any data points on a successful reconsideration?

joeberg · « **Reply #4082 on:** July 11, 2021, 01:58:12 AM »

Has anyone who applied for the EIDL increase, when the button went love on the website, been funded yet? I believe sillypainter sent in his request earlier.

Moshe123 · « **Reply #4083 on:** July 11, 2021, 01:59:26 AM »

Of course. Multiple times over.

Fish Tank · « **Reply #4084 on:** July 11, 2021, 02:03:46 AM »

Quote from: Moshe123 on July 11, 2021, 01:59:26 AM

Of course. Multiple times over.

Did you do any intervention to get it expedited?

hvaces42 · « **Reply #4085 on:** July 11, 2021, 09:17:17 AM »

Quote from: joeberg on July 11, 2021, 01:58:12 AM

Has anyone who applied for the EIDL increase, when the button went love on the website, been funded yet? I believe sillypainter sent in his request earlier.

I've been waiting since April for the increase to fund. Still says processing. What am I doing wrong. They have 4506.

Moshe123 · « **Reply #4086 on:** July 11, 2021, 09:40:40 AM »

Quote from: hvaces42 on July 11, 2021, 09:17:17 AM

I've been waiting since April for the increase to fund. Still says processing. What am I doing wrong. They have 4506.

They probably still don't have the transcripts. You can try to call to see if they do have and it's just lying around.

Moshe123 · « **Reply #4087 on:** July 11, 2021, 09:41:06 AM »

Quote from: Fish Tank on July 11, 2021, 02:03:46 AM

Did you do any intervention to get it expedited?

On one it was a phone call to check. Others naturally.

joeberg · « **Reply #4088 on:** July 11, 2021, 10:20:15 AM »

Quote from: Moshe123 on July 11, 2021, 09:41:06 AM

On one it was a phone call to check. Others naturally.

What number did you call?

Mordyk · « **Reply #4089 on:** July 11, 2021, 11:31:35 AM »

Common denominator of all of those that I know that got funded the increase already is call, call and call! Once in a blue moon you will get to speak to someone that can actually do something.

ShimshonK · « **Reply #4090 on:** July 11, 2021, 02:12:37 PM »

For the EIDL targeted advance (and supplemental advance) - any more steps to take at this point or this is where we just wait (see screenshot)?

ShimshonK · « **Reply #4091 on:** July 11, 2021, 02:14:51 PM »

Also, if the numbers put down on the application were approximate and not exact, will that cause an issue getting approval?

sillypainter · « **Reply #4092 on:** July 11, 2021, 02:25:04 PM »

Quote from: hvaces42 on July 11, 2021, 09:17:17 AM

I've been waiting since April for the increase to fund. Still says processing. What am I doing wrong. They have 4506.

Did you send in insurance and board resolution docs? I emailed that in in beginign of April along with the 4506. Then the portal had it, so I signed everythign there as well. A week or 2 later, got a call. Once you get the call, you are good to go. 1 week and you are funded.

Moshe123 · « **Reply #4093 on:** July 11, 2021, 03:07:59 PM »

Quote from: ShimshonK on July 11, 2021, 02:12:37 PM

For the EIDL targeted advance (and supplemental advance) - any more steps to take at this point or this is where we just wait (see screenshot)?

Review and accept the amount...

ShimshonK · « **Reply #4094 on:** July 11, 2021, 03:17:43 PM »

Quote from: Moshe123 on July 11, 2021, 03:07:59 PM

Review and accept the amount...

The loan? I don't want the loan.

Fish Tank · « **Reply #4095 on:** July 11, 2021, 10:08:37 PM »

Quote from: sillypainter on July 11, 2021, 02:25:04 PM

Did you send in insurance and board resolution docs?

When do they ask for that? After they get my transcripts?

est · « **Reply #4096 on:** July 11, 2021, 10:45:22 PM »

Im applying for the EIDL now for the first time for an LLC. Both my husband and I are partners. When I applied for the PPP I was only able to get for half the business income because one of us is a general partner and one is limited partner (on the k1 1065 only one of us has income listed under line 14-self employed income). Can I assume its the same rule for the EIDL and its considered 1 employee or is it considered 2 because its a partnership? What do I fill in for number of employees?

YesThatsMe · « **Reply #4097 on:** July 12, 2021, 11:42:51 AM »

Approved for Loan Increase yesterday, applied 4/30.

est · « **Reply #4098 on:** July 12, 2021, 01:24:59 PM »

when listing monthly gross income for EIDL aplication - are the PPP funds income?

cgr · « **Reply #4099 on:** July 12, 2021, 01:31:00 PM »

Quote from: est on July 12, 2021, 01:24:59 PM

when listing monthly gross income for EIDL aplication - are the PPP funds income?

No.
Disregard any PPP, EIDL, or any loans received.