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

[cgr]

Yes. They asked for 2019 + 2020 returns + proof of business.

Interesting- thanks for the dp.

[YitzyS]

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 driver’s 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)

[est]

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?

[shulemw]

@cgr the advance has a deadline of 07/31 or its deadline is also 12/31 as the loan?

[Fish Tank]

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?

[cgr]

@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.

[cgr]

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?

[ShimshonK]

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Failure to complete these steps will result in your application being withdrawn."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.

[cgr]

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.

[Ver hut gazugt]

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.

[cgr]

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

It only appears after completing the 4506-T.

[Fish Tank]

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.

[Fish Tank]

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.

[YitzyS]

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".

[cgr]

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?

[Fish Tank]

Usually they add a second 4506-T for the grant specifically. Do all 3 options on the bottom say complete?

Yes

[ShimshonK]

It's because you didn't accept the loan amount. If you're looking for the grant only you can ignore.

Ok great, thanks.

[Deal Guy]

What is the deadline to apply for the eidl grants?

[cgr]

Yes

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

[cgr]

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.