Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 535766 times)

Offline Hjay

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #480 on: April 28, 2020, 11:22:08 PM »
Did exactly the same. Didnt see any request for reference.
Reference? All the way at the end they allow you to optionally add someone (an authorized contact) to discuss your application with, an agent, relative, accountant etc. I just put my own info there, maybe I was rushing and didn't do it right.

I thought it was optional also but when I skipped it it didn’t let me go to the next page. Maybe I’ll look at it again. That threw me off a bit

Offline TBD

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #481 on: April 28, 2020, 11:28:19 PM »
Reference? All the way at the end they allow you to optionally add someone (an authorized contact) to discuss your application with, an agent, relative, accountant etc. I just put my own info there, maybe I was rushing and didn't do it right.
you can leave it empty

Online Mordyk

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #482 on: April 28, 2020, 11:30:03 PM »
same. i just got a CP today so i expect the $1k to hit at some point shortly
Just had my CP.  Lets pray for a good night ;D
#TYH

Offline TBD

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #483 on: April 28, 2020, 11:31:42 PM »
I thought it was optional also but when I skipped it it didn’t let me go to the next page. Maybe I’ll look at it again. That threw me off a bit
you probably missed something in the other sections.
Check on top, there is 6 sections, Business info, personal info, etc; each section needs to have a blue line till the end which means all required info where filled in. By the first section you need to fill out Beneficial ownership even if there is only 1 owner.

Offline 12HRS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #484 on: April 28, 2020, 11:33:18 PM »
When did you apply?

the first day it was open

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #485 on: April 29, 2020, 12:01:00 AM »
you can leave it empty

I wrote optionally in the post you quoted.
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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #486 on: April 29, 2020, 12:06:33 AM »
From a email I got.

Dear Business Client,

We're following up on the status of your application for a Paycheck Protection Program loan. We know how important these funds would be to your business and we hope this update gives you some insight into the processes both here at Chase and the SBA.

We continue to monitor congressional actions for a possible new round of funding for the program. We also will keep processing as many applications as possible so we will be ready to submit them if new funding becomes available.
Here is the high-level overview of the review and approval process:

Here's the update on your application:
Current Status: Stage 2, Payroll review
Our process: We are working through our inquiry and application queue. We are now reviewing the documents you provided demonstrating your payroll amounts.

What you should expect: Our team is manually reviewing your payroll documentation. Once we complete our review, we'll be ready to send your application to the SBA for approval if additional funding becomes available for the program.

You don't have to do anything else now. If we have questions as we're reviewing your application, we'll email you. In the meantime, we'll keep updating chase.com/cares with the latest information.
Thank you for being a Chase customer.

Interesting. The email I recieved made no mention of stages.
Feelings don't care about your facts

Offline ilherman

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #487 on: April 29, 2020, 12:22:35 AM »
Applied for EIDL on 4/1. Heard nothing. Credit check on 4/22. Advance in bank on 4/23. No email. Just woke up and it was there.

What were the first 5 digits of your application number? I heard they are rolling it out first come first serve. Mine was 33011XXXXX. How much higher are you?
32470
You can say what you think when you think what you say.

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #488 on: April 29, 2020, 12:27:19 AM »
Applied for EIDL on 4/1. Heard nothing. Credit check on 4/22. Advance in bank on 4/23. No email. Just woke up and it was there.

What were the first 5 digits of your application number? I heard they are rolling it out first come first serve. Mine was 33011XXXXX. How much higher are you?
33014

Online Mordyk

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #489 on: April 29, 2020, 12:40:21 AM »
Applied for EIDL on 4/1. Heard nothing. Credit check on 4/22. Advance in bank on 4/23. No email. Just woke up and it was there.

What were the first 5 digits of your application number? I heard they are rolling it out first come first serve. Mine was 33011XXXXX. How much higher are you?
33019 just had credit pull
#TYH

Offline ilherman

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #490 on: April 29, 2020, 01:28:00 AM »
Are you guys getting hard pull for EIDL? Which agency?
You can say what you think when you think what you say.

Online Mordyk

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #491 on: April 29, 2020, 01:32:00 AM »
Are you guys getting hard pull for EIDL? Which agency?
From SBA
#TYH

Offline beeweegee

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #492 on: April 29, 2020, 02:06:39 AM »
Does a PPP app need to be placed with a bank in your state? I'm in NJ - can I use Dime in NY? They are asking for documents (on that final page) that I don't have, but don't let me move on without submitting something.

Online Mordyk

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #493 on: April 29, 2020, 07:37:31 AM »
#TYH for the $1000 gift ;D
« Last Edit: April 29, 2020, 07:59:06 AM by Mordyk »
#TYH

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #494 on: April 29, 2020, 07:44:31 AM »
#TYH for the $1000 gift ;D

Mazal tov!
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Offline ilherman

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #495 on: April 29, 2020, 10:49:42 AM »
From SBA
Where are they pulling the report from? SBA is not a credit bureau, are they?
You can say what you think when you think what you say.

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #496 on: April 29, 2020, 11:17:10 AM »
Where are they pulling the report from? SBA is not a credit bureau, are they?

I think he misunderstood your question and thought you were asking which government agency initiated the inquiry.
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Offline jack

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #497 on: April 29, 2020, 11:48:17 AM »
I did not initially apply for the EIDL and have been watching it to see if they would open for new applications but so far nothing.  I did see on one of the news sites to fill out an application and it would be submitted as of yesterday they were opening for new apps.  Filled it out and got to the last page, a request to debit my account for a fee.  I emailed the company and this is what I got in response

We bill at an hourly rate of $300 with most small businesses taking 1-2 hours.  There is a $100 deposit required for us to start the review process of any application.  Our fee is not contingent on loan approval.  The document you sign with your bank information is for the application - not to be charged.  We will reach out in regards to billing.

 
Please let me know if you are interested, as I will assign an agent to you.

Anyone know if these guys have a way of submitting an application that isn't open to the public?


Online Mordyk

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #498 on: April 29, 2020, 11:50:47 AM »
Where are they pulling the report from? SBA is not a credit bureau, are they?
oh sorry. i saw on experian
#TYH

Offline metsgiantsfan

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #499 on: April 29, 2020, 11:51:58 AM »
Applied for EIDL on 4/1. Heard nothing. Credit check on 4/22. Advance in bank on 4/23. No email. Just woke up and it was there.

What were the first 5 digits of your application number? I heard they are rolling it out first come first serve. Mine was 33011XXXXX. How much higher are you?

MY Application number 33016XXXXXX  still nothing