Author Topic: SBA PPP and EIDL Small Business Loans (some money is forgivable)  (Read 289218 times)

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4180 on: July 26, 2021, 09:21:37 PM »
Yes. They asked for 2019 + 2020 returns + proof of business.
Interesting- thanks for the dp.

Offline YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4181 on: July 26, 2021, 10:07:34 PM »
They first asked me "Please describe your business: what do you do, what are the products, and how you reach out to customers." After I answered, they asked me for:

Color photos of driverís license, front and back (in PDF)
Voided check and one month of bank statement (in PDF)
Form 1099 and client invoices in 2019/2020 (in PDF)
Complete 2019 federal tax filing (in PDF)

Offline est

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4182 on: July 26, 2021, 11:10:29 PM »
My EIDL loan was denied - the letter I received said it was because of "Unverifiable Information". I dont want the loan anyways - only the advance and supplemental. Could this issue become an issue for those as well? right now they are just showing "submitted".
Did anyone else get denied for this issue and still got the advanced and/or supplemental funded?

Offline shulemw

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4183 on: July 26, 2021, 11:50:22 PM »
@cgr the advance has a deadline of 07/31 or its deadline is also 12/31 as the loan?

Offline Fish Tank

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4184 on: July 26, 2021, 11:54:40 PM »
I called today to check the status of my targeted advance and supplemental advance applications. They said I need to click "submit" otherwise it will be in progress/pending stage forever.

The problem is there is no "submit" button.
Anyone had this issue?





Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4185 on: July 27, 2021, 12:36:46 AM »
@cgr the advance has a deadline of 07/31 or its deadline is also 12/31 as the loan?

All 3 programs will close when funds are exhausted or 12/31/21, whichever comes first.

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4186 on: July 27, 2021, 12:37:06 AM »
I called today to check the status of my targeted advance and supplemental advance applications. They said I need to click "submit" otherwise it will be in progress/pending stage forever.

The problem is there is no "submit" button.
Anyone had this issue?




Did you complete the 4506-T?

Offline ShimshonK

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4187 on: July 27, 2021, 10:53:38 AM »
For the EIDL targeted advance (and supplemental advance) - any more steps to take at this point or this is where we just wait (see screenshot)?



I have received multiple follow-up emails from the SBA saying "Status Update" in the subject, with the body saying "Our records indicate that you have not taken the next steps to complete your SBA Economic Injury Disaster Loan application. These steps are necessary to continue to process your application.
Failure to complete these steps will result in your application being withdrawn."

I'm supposed to just ignore? I am unaware of any further action necessary from me.

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4188 on: July 27, 2021, 12:26:14 PM »
I have received multiple follow-up emails from the SBA saying "Status Update" in the subject, with the body saying "Our records indicate that you have not taken the next steps to complete your SBA Economic Injury Disaster Loan application. These steps are necessary to continue to process your application.
Failure to complete these steps will result in your application being withdrawn."

I'm supposed to just ignore? I am unaware of any further action necessary from me.
It's because you didn't accept the loan amount. If you're looking for the grant only you can ignore.

Offline Ver hut gazugt

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4189 on: July 27, 2021, 12:50:12 PM »
I called today to check the status of my targeted advance and supplemental advance applications. They said I need to click "submit" otherwise it will be in progress/pending stage forever.

The problem is there is no "submit" button.
Anyone had this issue?






Take a rider screen shot. there should be a blue button on the right side.

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4190 on: July 27, 2021, 01:24:28 PM »

Take a rider screen shot. there should be a blue button on the right side.
It only appears after completing the 4506-T.

Offline Fish Tank

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4191 on: July 27, 2021, 01:29:48 PM »
It only appears after completing the 4506-T.
I already completed the 4506-T for my loan (which is still pending reconsideration)

There was no option to sign one for the advance.

Offline Fish Tank

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4192 on: July 27, 2021, 01:30:26 PM »

Take a rider screen shot. there should be a blue button on the right side.
I'll post wider screenshot later. It's not there.

Offline YitzyS

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4193 on: July 27, 2021, 01:30:54 PM »
My Targeted Advance status changed today from "approved" to "funded". How long until the money will be in my bank account?
The money appeared in my account this morning. Much sooner than 5 business days... It did however take a few days to switch from "approved" to "funded".

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4194 on: July 27, 2021, 01:38:34 PM »
I already completed the 4506-T for my loan (which is still pending reconsideration)

There was no option to sign one for the advance.
Usually they add a second 4506-T for the grant specifically. Do all 3 options on the bottom say complete?

Offline Fish Tank

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4195 on: July 27, 2021, 01:42:12 PM »
Usually they add a second 4506-T for the grant specifically. Do all 3 options on the bottom say complete?
Yes





Offline ShimshonK

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4196 on: July 27, 2021, 03:09:54 PM »
It's because you didn't accept the loan amount. If you're looking for the grant only you can ignore.
Ok great, thanks.

Offline Deal Guy

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4197 on: July 27, 2021, 11:06:15 PM »
What is the deadline to apply for the eidl grants?

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4198 on: July 27, 2021, 11:40:08 PM »
Yes




What're they asking for under "Additional information needed"? Maybe that's why you're not able to hit submit.

Offline cgr

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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable)
« Reply #4199 on: July 27, 2021, 11:40:20 PM »
What is the deadline to apply for the eidl grants?

All 3 programs will close when funds are exhausted or 12/31/21, whichever comes first.