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

[unavailable]

actually just noticed their message online:

Applications for forgiveness will become available for loans funded after February 15, 2021 in the next several weeks.

[cholent]

I'm helping someone apply for EIDL, she is being asked to upload ODA form P-022. I've never heard of this and Google isn't helping. Any idea or just wait several days for a return email from sba?

[cgr]

I'm helping someone apply for EIDL, she is being asked to upload ODA form P-022. I've never heard of this and Google isn't helping. Any idea or just wait several days for a return email from sba?

It's the Board Resolution/Owner Statement stating that the officers/owners are authorizing the loan.

[cholent]

It's the Board Resolution/Owner Statement stating that the officers/owners are authorizing the loan.

She is a sole proprietorship, what can she use here? Just a statement saying that?

[cgr]

She is a sole proprietorship, what can she use here? Just a statement saying that?

Yes. It has a few basic guidelines- you can email me at chaiplus1@gmail.com for a template.

[oldguy]

How long is it from when the targeted advance gets approved until the $ is in my account?

[YitzyS]

How long is it from when the targeted advance gets approved until the $ is in my 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".

[est]

Send everything in PDF format, and include a signed 4506-T as well.

My question was if there is any way to send in this info if I didn’t receive a denial yet for the targeted and supplemental? (I’m assuming they will be denied based on the same “unverifiable info” that the loan was denied for...)

[Pupashtetl]

Send everything in PDF format, and include a signed 4506-T as well.

When applying for the advance as an individual that had a reduction on 1099 income, which of these documents should be sent?

Also, how do I get a 4506-T?

Thanks

[cgr]

When applying for the advance as an individual that had a reduction on 1099 income, which of these documents should be sent?

Also, how do I get a 4506-T?

Thanks

All of those.
You most likely already completed a 4506-T on your portal when applying for the advance- you can download that one and end send it.

[est]

My question was if there is any way to send in this info if I didn’t receive a denial yet for the targeted and supplemental? (I’m assuming they will be denied based on the same “unverifiable info” that the loan was denied for...)

Never mind... Got approved today even though the loan itself was denied!

[elya]

Never mind... Got approved today even though the loan itself was denied!

Very nice. When did you apply?

[Traveler718]

Do you have to take maaser from a forgiven PPP loan (if you're a sole proprietor and not actually using the money for payroll)?

[cholent]

Do you have to take maaser from a forgiven PPP loan (if you're a sole proprietor and not actually using the money for payroll)?

Aylor but why not?

[est]

Very nice. When did you apply?

First week of july

[YitzyS]

Do you have to take maaser from a forgiven PPP loan (if you're a sole proprietor and not actually using the money for payroll)?

Aylor but why not?

The rov I called said that there is definitely a maaser requirement

[Pupashtetl]

Yes. If you already did one on your EIDL account you can download that pdf to include.

Where do I find it?

[cgr]

Where do I find it?

Under "Review and Sign Documents"
Needs to be dated within 120 days

[LNS]

update
submitted application  8/10
supplemental advance was in my account yesterday and rest today

did not apply for any other loans from sba prior to this
 

[AsherO]

update
submitted application  9/10
supplemental advance was in my account yesterday and rest today

did not apply for any other loans from sba prior to this
 

You got the full $15k (targeted plus supplemental) within a week? That's a record.