Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable) (Read 545078 times)

yuneeq · « **Reply #3580 on:** April 08, 2021, 09:33:40 AM »

Quote from: sillypainter on April 08, 2021, 09:03:17 AM

The hyperlink adds a +, but I see it only happens in Gmail. In Hub which I use it does work normally. Be aware to remove the + because I don't think the email will arrive.

Seems like a Gmail specific issue, the link works fine in Zoho

minkr · « **Reply #3581 on:** April 08, 2021, 10:02:17 AM »

Quote from: minkr on April 07, 2021, 12:40:22 PM

Original application on 2/8.
Additional information (tax release form) triggered "application processing" on 3/2
Approval email 4/6
(awaiting funds)

Funds deposited today 4/8

monkey · « **Reply #3582 on:** April 08, 2021, 10:05:07 AM »

Thank you @cgr for all your help with my ppp loan. Was really a huge help.

Lots of back and forth and pushing my app through.

Barryg · « **Reply #3583 on:** April 08, 2021, 10:57:52 AM »

Quote from: cgr on April 08, 2021, 09:12:07 AM

Ah that's what @ExGingi was referring to...
I thought it had something to do with a personal Gmail setup.
Thanks!

Could this be why I didn't receive a confirmation email (auto response) when I sent my email in? I sent from Gmail, but I copied and pasted the email address so there were no extra characters. (just CovidEIDLIncreaseRequests@sba.gov)

Mordyk · « **Reply #3584 on:** April 08, 2021, 01:41:56 PM »

how do you fill out an EIDL Application for a business that started in 1/2020. what do i write when they ask for prior 12 months sales and cogs?

TBD · « **Reply #3585 on:** April 08, 2021, 02:04:07 PM »

Anyone else has this?

S209 · « **Reply #3586 on:** April 08, 2021, 02:31:46 PM »

Quote from: S209 on February 24, 2021, 10:03:40 AM

Same here

In a weird twist, on the SBA website the 1,000 advance I received switched from being “approved” to being “funded” but the targeted advance is still “submitted”. It funded a year ago..

AsherO · « **Reply #3587 on:** April 08, 2021, 02:43:25 PM »

Quote from: S209 on April 08, 2021, 02:31:46 PM

In a weird twist, on the SBA website the 1,000 advance I received switched from being “approved” to being “funded” but the targeted advance is still “submitted”. It funded a year ago..

That doesn't make sense, the targeted advance (up to $10k for businesses in low income communities) was only legislated in 2021.

Traveler718 · « **Reply #3588 on:** April 08, 2021, 03:26:18 PM »

Received 1st draw from CR, just applied for forgiveness with their partner Scratch. Scratch says they usually take 2-4 weeks to review internally, then SBA takes up to 3 months to review. Realistically, how long are people getting their forgiveness responses in through Scratch (for <$150k loans)?

AsherO · « **Reply #3589 on:** April 08, 2021, 05:15:32 PM »

Quote from: Traveler718 on April 08, 2021, 03:26:18 PM

Received 1st draw from CR, just applied for forgiveness with their partner Scratch. Scratch says they usually take 2-4 weeks to review internally, then SBA takes up to 3 months to review. Realistically, how long are people getting their forgiveness responses in through Scratch (for <$150k loans)?

Can’t imagine it actually takes SBA anywhere near 3 months to review/process a 1 page forgiveness form.

ShimshonK · « **Reply #3590 on:** April 09, 2021, 12:43:50 AM »

Quote from: Barryg on April 08, 2021, 10:57:52 AM

Could this be why I didn't receive a confirmation email (auto response) when I sent my email in? I sent from Gmail, but I copied and pasted the email address so there were no extra characters. (just CovidEIDLIncreaseRequests@sba.gov)

Why don't you check your sent folder to see if it included the plus?

Barryg · « **Reply #3591 on:** April 09, 2021, 01:18:49 AM »

Quote from: ShimshonK on April 09, 2021, 12:43:50 AM

Why don't you check your sent folder to see if it included the plus?

There's no plus,
ty

shulemw · « **Reply #3592 on:** April 09, 2021, 01:58:41 PM »

Can anybody confirm please if need to send the increase request for the EIDL from the email address on file or can use other email address too? Thanks!

ae123 · « **Reply #3593 on:** April 09, 2021, 05:01:28 PM »

For someone first applying now for both first-draw PPP & second-draw PPP, should they apply for both simultaneously or apply for first-draw, hopefully get approved, and then apply for second-draw?
Thanks.

cgr · « **Reply #3594 on:** April 09, 2021, 05:08:34 PM »

Quote from: ae123 on April 09, 2021, 05:01:28 PM

For someone first applying now for both first-draw PPP & second-draw PPP, should they apply for both simultaneously or apply for first-draw, hopefully get approved, and then apply for second-draw?
Thanks.

A) not possible to apply for Second before receiving the funds for First
B) in order to be eligible for Second Draw you need to have used all your First Draw funds.

ae123 · « **Reply #3595 on:** April 09, 2021, 05:23:27 PM »

Quote from: cgr on April 09, 2021, 05:08:34 PM

A) not possible to apply for Second before receiving the funds for First
B) in order to be eligible for Second Draw you need to have used all your First Draw funds.

Thank you.
In practical terms, how long after receiving the funds for the first-draw should a second-draw application be submitted?