Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 174820 times)

Offline Yef

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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

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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

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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.

Offline sillypainter

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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

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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

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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 Iím fine if I wait a few more days?

Offline cgr

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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 Iím 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

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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

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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

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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 ó around $8 billion ó 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 groupís alert.

Offline shmooz

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3760 on: May 04, 2021, 11:52:27 PM »
Applied for the targeted advance a month ago and filled out the 4506t. Did not hear back, but they note that you will not. So am waiting.

Went to the portal and see that there is a 'submit' button that I missed before I guess. Hit that and now shows submitted.

Where does that leave me? Back of the line?

Offline AsherO

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3761 on: May 05, 2021, 09:23:53 AM »
Applied for the targeted advance a month ago and filled out the 4506t. Did not hear back, but they note that you will not. So am waiting.

Went to the portal and see that there is a 'submit' button that I missed before I guess. Hit that and now shows submitted.

Where does that leave me? Back of the line?

Apparently, I donít think funding will run out too soon so itís only a matter of time

Offline helpusout

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3762 on: May 05, 2021, 10:50:15 AM »
Got denied for round 2 EIDL , I am unsure why. Any way to appeal?

Offline Ver hut gazugt

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3763 on: May 05, 2021, 12:01:59 PM »
I had the request button but then it disappeared, I called they said they will send an email so far nothing. Anyway to figure out what is going on? Or they are still figuring things out it will just take some time.

Online theblakdavid

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #3764 on: May 05, 2021, 12:16:21 PM »
Got denied for round 2 EIDL , I am unsure why. Any way to appeal?
Eidl loan or advance ?