Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 535738 times)

Offline TBD

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Nov 2014
  • Posts: 1316
  • Total likes: 206
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: United States
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3540 on: April 06, 2021, 09:24:02 PM »
Where do I find the loan number? Is it the same as the application number?
On the signed loan docs

Offline TBD

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Nov 2014
  • Posts: 1316
  • Total likes: 206
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: United States
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3541 on: April 06, 2021, 09:24:42 PM »
Thanks much! Email sent to SBA for an increase. I did not get the email yet, but I used the info I got from your post. Will report back when I hear back.

Received auto reply.

Thank you for contacting the Covid EIDL Increase Team.  Your request has been received and will be processed in the order it was received.   


Thank You,
Covid EIDL Increase Team



 
How long after sending did you receive the auto-reply?

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 30534
  • Total likes: 7831
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3542 on: April 06, 2021, 10:09:36 PM »
How long after sending did you receive the auto-reply?

Yet another inconsistency from the SBA, no surprise here.
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael

Online cgr

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Aug 2017
  • Posts: 4377
  • Total likes: 1318
  • DansDeals.com Hat Tips 7
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3543 on: April 06, 2021, 10:35:43 PM »
Yet another inconsistency from the SBA, no surprise here.
Not to mention that when they originally announced the increase they specifically said that no official increase request will be required, and that it will be a simple process..

Offline sillypainter

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2012
  • Posts: 2068
  • Total likes: 200
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3544 on: April 06, 2021, 10:51:57 PM »
Where do I find the loan number? Is it the same as the application number?

I got a PDF a while after the loan. All info is there.

Offline sillypainter

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2012
  • Posts: 2068
  • Total likes: 200
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3545 on: April 06, 2021, 10:52:26 PM »
How long after sending did you receive the auto-reply?

Instantly. Check spam.

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 30534
  • Total likes: 7831
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3546 on: April 06, 2021, 11:52:31 PM »
Where do I find the loan number? Is it the same as the application number?


It’s not the same, but if you got any follow up emails from SBA with attachment (I got a few notifications) the PDFs will have both your application and loan #s.
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael

Offline USam

  • Dansdeals Gold Elite
  • ***
  • Join Date: Dec 2017
  • Posts: 156
  • Total likes: 77
  • DansDeals.com Hat Tips 13
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3547 on: April 07, 2021, 12:48:56 AM »
What day did you apply?

Don’t remember exact date. I believe end of February.

Offline Barryg

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Nov 2012
  • Posts: 1683
  • Total likes: 63
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Ohio
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3548 on: April 07, 2021, 11:27:11 AM »
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)

Offline helpusout

  • Dansdeals Gold Elite
  • ***
  • Join Date: Oct 2008
  • Posts: 240
  • Total likes: 1
  • DansDeals.com Hat Tips 0
  • Gender: Male
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3549 on: April 07, 2021, 12:14:52 PM »
Thanks much! Email sent to SBA for an increase. I did not get the email yet, but I used the info I got from your post. Will report back when I hear back.

Received auto reply.

Thank you for contacting the Covid EIDL Increase Team.  Your request has been received and will be processed in the order it was received.   


Thank You,
Covid EIDL Increase Team



 

Where do you send this email to? And what do you include?

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 30534
  • Total likes: 7831
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3550 on: April 07, 2021, 12:23:19 PM »
Where do you send this email to? And what do you include?

Entire email quoted a few posts up:

https://forums.dansdeals.com/index.php?topic=115517.msg2426738#msg2426738
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael

Offline minkr

  • Dansdeals Silver Elite
  • **
  • Join Date: Feb 2013
  • Posts: 94
  • Total likes: 5
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3551 on: April 07, 2021, 12:40:22 PM »
What day did you apply?
Original application on 2/8.
Additional information (tax release form) triggered "application processing" on 3/2
Approval email 4/6
(awaiting funds)

Offline Mordyk

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2013
  • Posts: 4102
  • Total likes: 1015
  • DansDeals.com Hat Tips 3
  • Gender: Male
    • View Profile
  • Programs: Some of this and some of that.
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3552 on: April 07, 2021, 12:52:00 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?
#TYH

Offline theblakdavid

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Feb 2016
  • Posts: 617
  • Total likes: 36
  • DansDeals.com Hat Tips 0
  • Gender: Male
    • View Profile
  • Location: NY
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3553 on: April 07, 2021, 01:29:54 PM »
Are there any additional eligibility requirements for the increased EIDL loan ? I received the email from the SBA but no word on that.

Online cgr

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Aug 2017
  • Posts: 4377
  • Total likes: 1318
  • DansDeals.com Hat Tips 7
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3554 on: April 07, 2021, 01:49:41 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?
KYB?

Online cgr

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Aug 2017
  • Posts: 4377
  • Total likes: 1318
  • DansDeals.com Hat Tips 7
    • View Profile
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.

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 30534
  • Total likes: 7831
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
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.
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael

Online ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 15620
  • Total likes: 7712
  • DansDeals.com Hat Tips 19
    • View Profile
  • Location: 770
  • Programs: בשורת הגאולה. From Exile to Redemption. GIYF. AAdvantage Executive Platinum®
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.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline yitzf

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Mar 2011
  • Posts: 2623
  • Total likes: 52
  • DansDeals.com Hat Tips 4
    • View Profile
« Last Edit: April 07, 2021, 05:18:36 PM by yitzf »

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Feb 2012
  • Posts: 875
  • Total likes: 154
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ