Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 535731 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 #3740 on: May 03, 2021, 01:47:18 PM »
SBA started merging online accounts from the same SSN even with different companies. Don't tell you. You just won't have an account on one login and they will just show up on another account.

Happened by me when the option to sign for the tax transcript came up and it was signed.
THANKS. COULDNT FIND MY INFORMATION FOR THE PAST 48 HOURS....

Weird! The verification code they still send to the old email from where they deleted the account

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 #3741 on: May 03, 2021, 02:00:36 PM »
Still no blue button for me to request increase. any ideas?
#TYH

Offline joeberg

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: May 2013
  • Posts: 745
  • Total likes: 35
  • DansDeals.com Hat Tips 1
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3742 on: May 03, 2021, 02:05:28 PM »
Anyone know a timeline for increase EIDL loan approval?

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 #3743 on: May 03, 2021, 02:11:58 PM »
Still no blue button for me to request increase. any ideas?

I don't think anybody got approved for an increase yet. I have sooken to a few accountants and they all said none of their clients were approved yet. Maybe the SBA is working on a streamlined process?

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 #3744 on: May 03, 2021, 02:14:09 PM »
I don't think anybody got approved for an increase yet. I have sooken to a few accountants and they all said none of their clients were approved yet. Maybe the SBA is working on a streamlined process?
step #1 is request increase via blue button on the portal. I cant even do that
#TYH

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 #3745 on: May 03, 2021, 02:16:14 PM »
step #1 is request increase via blue button on the portal. I cant even do that

This moving bar only works if you can apply for an increase and you have sales big enough. If your sales were not big enough then you won't be able to ask for an increase. Did you get last time 150K or less than 150k?

Offline EliJelly

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jan 2019
  • Posts: 2863
  • Total likes: 3466
  • DansDeals.com Hat Tips 1
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3746 on: May 03, 2021, 02:55:12 PM »
I applied for the EIDL Advance about two weeks ago and haven't received any update, neither am I able to start to review and sign documents. How do I proceed?




Offline Yef

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Aug 2017
  • Posts: 381
  • Total likes: 85
  • DansDeals.com Hat Tips 0
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3747 on: May 03, 2021, 03:10:30 PM »
This moving bar only works if you can apply for an increase and you have sales big enough. If your sales were not big enough then you won't be able to ask for an increase. Did you get last time 150K or less than 150k?
That’s incorrect. They are raising the eligibility amounts

Offline ShimshonK

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Nov 2018
  • Posts: 550
  • Total likes: 148
  • DansDeals.com Hat Tips 3
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3748 on: May 03, 2021, 08:03:10 PM »



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 #3749 on: May 03, 2021, 08:06:01 PM »

Per yesterday's report there's 33B left.

Offline Yef

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Aug 2017
  • Posts: 381
  • Total likes: 85
  • DansDeals.com Hat Tips 0
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3750 on: May 03, 2021, 08:12:52 PM »
Does this have anything to do with eidl loans or is it only ppp?

Offline ae123

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Mar 2011
  • Posts: 2164
  • Total likes: 183
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3751 on: May 03, 2021, 08:45:56 PM »
Per yesterday's report there's 33B left.
Here's hoping ours goes through....

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 #3752 on: May 03, 2021, 08:49:39 PM »
Does this have anything to do with eidl loans or is it only ppp?

No. Two completely separate pools of funding.
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael

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 #3753 on: May 03, 2021, 08:59:55 PM »
Loans will never dry out because they are "loans".

Offline jackofall

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Nov 2012
  • Posts: 772
  • Total likes: 45
  • DansDeals.com Hat Tips 2
  • Gender: Male
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3754 on: May 04, 2021, 01:02:50 PM »
Anyone here got already funded for a Non profit's for the Targeted advance?
Just got approved today b"h.
If you focus on being a boss, you will never be a leader. Leaders lead people to growth and improvement.

Offline Hjay

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2016
  • Posts: 1345
  • Total likes: 93
  • DansDeals.com Hat Tips 1
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3755 on: May 04, 2021, 02:43:11 PM »
Per yesterday's report there's 33B left.

Was just coming here to ask about that should I apply for second draw ASAP? Or I’m fine if I wait a few more days?

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 #3756 on: May 04, 2021, 04:51:04 PM »
Was just coming here to ask about that should I apply for second draw ASAP? Or I’m fine if I wait a few more days?
Depends who you ask.
The banks themselves weren't told by the SBA that funding is low, but some agencies who monitor various set asides (CDFIs, error codes) do believe it can run out in the next 24 hrs.
Others believe a week.
And others believe that the SBA won't exercise the set-asides (it's at their discretion) and it'll last til 5/31 or thereabouts.

Offline dovy2

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Oct 2012
  • Posts: 2379
  • Total likes: 299
  • DansDeals.com Hat Tips 24
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3757 on: May 04, 2021, 06:12:03 PM »
Just got approved today b"h.
How did you go about signing the form?

Offline ShimshonK

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Nov 2018
  • Posts: 550
  • Total likes: 148
  • DansDeals.com Hat Tips 3
    • View Profile
Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3758 on: May 04, 2021, 09:33:45 PM »
The Paycheck Protection Program is out of money and closed to most new applications:
https://www.nytimes.com/2021/05/04/business/paycheck-protection-program-closes.html

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 #3759 on: May 04, 2021, 11:24:31 PM »
The Paycheck Protection Program is out of money and closed to most new applications:
https://www.nytimes.com/2021/05/04/business/paycheck-protection-program-closes.html
Some money — around $8 billion — is still available through a set-aside for community financial institutions, which generally focus on lending to businesses run by women, minorities and other underserved communities. Those lenders will be allowed to process applications until that money runs out, according to the trade group’s alert.