SBA PPP and EIDL Small Business Loans (some money is forgivable)

[TBD]

I guess I've been in "loan modification processing" status for so long that it seems like no one else has been funded. Doesnt seem to be any rhyme or reason fot delay. They have everything.

Did you provide them with your insurance and board resolution authorizing to apply for EIDL?
Did anyone receive the increase without providing those documents?

[hvaces42]

They haven't asked for that yet.

[Fish Tank]

I recently applied for EIDL for the first time.

My application was rejected due to "unverified".

Apparently I signed my 4506-T electronically and that isn't good   



Additionally, they are requesting form 2202. Can any one advise what goes on that form? I have a service business. . .

Thank you

[cgr]

Is the targeted advance only for corps? or also for individuals that filed a Schedule C?

All business entities can apply (if they meet the eligibility requirements) other than agricultural enterprises.

[jaywhy]

Any recommendations for the business contents insurance that the SBA is asking for?

[hvaces42]

They are not going in order

Per an email I received from them yesterday they are going in order.

[moko]

2nd ppp funded today. Applied late April.

[Mordyk]

Per an email I received from them yesterday they are going in order.

I know they claim they do.  I have straight up proof that not. I submitted day 1, still no response.   Someone applied a few days later got funded already

[cgr]

Kabbage will be using Biz2Credit to process forgiveness applications.
I don’t know if this is for all loans, or if it will depend on which bank Kabbage used for the specific loan.

[AsherO]

Kabbage will be using Biz2Credit to process forgiveness applications.
I don’t know if this is for all loans, or if it will depend on which bank Kabbage used for the specific loan.

Is there anywhere with an frequently updated overview/dashboard of forgiveness status for major PPP lenders (especially the FinTech platforms)?

[cgr]

Is there anywhere with an frequently updated overview/dashboard of forgiveness status for major PPP lenders (especially the FinTech platforms)?

https://bench.co/blog/operations/ppp-lenders/
Not an exhaustive list- I know of banks accepting that are not on there.

[AsherO]

https://bench.co/blog/operations/ppp-lenders/
Not an exhaustive list- I know of banks accepting that are not on there.

Thanks, Biz2Credit isn't listed there for instance.

BlueVine never contacted me, though I'd have less than 30 days to apply for forgiveness with an 8 week covered period.

Took me 10 minutes flat to apply for PPP1/PPP2 forgiveness with two different lenders/platforms. How long does it actually take for the SBA to process a 3508S?

[Ver hut gazugt]

I know they claim they do.  I have straight up proof that not. I submitted day 1, still no response.   Someone applied a few days later got funded already

It could be the irs did not release your taxes yet. You can call them up and ask them what is the hold up.

[Mordyk]

It could be the irs did not release your taxes yet. You can call them up and ask them what is the hold up.

they had my docs because they needed it to approve me originally. i called and they said no hold up, just normal procedure in the queue

[Zalc]

I recently applied for EIDL for the first time.

My application was rejected due to "unverified".

Apparently I signed my 4506-T electronically and that isn't good   



Additionally, they are requesting form 2202. Can any one advise what goes on that form? I have a service business. . .

Thank you

How did you find out what the "unverified" issue stemmed from?

My letter didn't mention anything about the electronic signature.

What was your next step?

[crownsbroyal]

I requested an increase to my EIDL loan (request made at the end of April) and was recently contacted by the loan officer asking for a copy of my lease agreement in the business name and a copy of my utility bill in the business name.  My question is, if I moved my business that is associated with my application to my home office since COVID and I do not have utility bills or a lease in my business name, will this preclude me from being eligible from an increase? 

[Buruch]

Why is it tied to a lease or utility bills at all? What if you ran your business from home?

[sillypainter]

I requested an increase to my EIDL loan (request made at the end of April) and was recently contacted by the loan officer asking for a copy of my lease agreement in the business name and a copy of my utility bill in the business name.  My question is, if I moved my business that is associated with my application to my home office since COVID and I do not have utility bills or a lease in my business name, will this preclude me from being eligible from an increase?

I wouldn't ream too much into it. They just do verification checks. Send them your personal lease and explain that you work from home.

[crownsbroyal]

I wouldn't ream too much into it. They just do verification checks. Send them your personal lease and explain that you work from home.

Thanks, I will let them know.

[joeberg]

https://bench.co/blog/operations/ppp-lenders/
Not an exhaustive list- I know of banks accepting that are not on there.

Any info on Dime bank?