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

[TBD]

I was originally declined for the grant due to identity issues, so I asked for a reconsideration and provided all necessary documents. Today I received an email from the SBA that the status of my application was updated and I should login to continue to the next step. However, when I logged in everything seemed the same! It still says declined for the grant, and shows that a reconsideration is in process.

Did anyone have this?

Where can you see that a reconsideration is in process?

[Pupashtetl]

Where can you see that a reconsideration is in process?

It shows up in a green box under the 'status' tab.

[neveryou]

Sneaky. That really sucks.

Where does that leave us? How much funds are currently remaining?

I read somewhere last week that there was quite a few billion left, bc in order to get the grant you need to be living in a poor neighborhood so that cancels out alot of business

[Pupashtetl]

I was originally declined for the grant due to identity issues, so I asked for a reconsideration and provided all necessary documents. Today I received an email from the SBA that the status of my application was updated and I should login to continue to the next step. However, when I logged in everything seemed the same! It still says declined for the grant, and shows that a reconsideration is in process.

Did anyone have this?

Anyone?

[cgr]

I was originally declined for the grant due to identity issues, so I asked for a reconsideration and provided all necessary documents. Today I received an email from the SBA that the status of my application was updated and I should login to continue to the next step. However, when I logged in everything seemed the same! It still says declined for the grant, and shows that a reconsideration is in process.

Did anyone have this?

Check under document uploads to see if they're requesting anything new.

[Pupashtetl]

Check under document uploads to see if they're requesting anything new.

Just checked, nothing new. Everything says 'received'.
Any point in calling them?

[123-Rosh]

Check under document uploads to see if they're requesting anything new.

If they're asking for documents for the loan, but I don't want the loan, only the grant, should I still submit the documents they're asking for?

[cgr]

If they're asking for documents for the loan, but I don't want the loan, only the grant, should I still submit the documents they're asking for?

You can skip. As long as you can click "Submit for Processing" you're good.

[Mf1]

Can one apply for eidl based on having a 2019 1099 from interest / stocks

[cholent]

Can one apply for eidl based on having a 2019 1099 from interest / stocks

No, as investment businesses are excluded

[YOSSI170]

How long does it usually take from submitting 4506 form until you hear something from them?

[cgr]

How long does it usually take from submitting 4506 form until you hear something from them?

Depends if it's for the loan or grant.
Grants are about 4-5 weeks right now from submission to approval.

[hvaces42]

Depends if it's for the loan or grant.
Grants are about 4-5 weeks right now from submission to approval.

Submitted my Loan application on October 24. Approved for loan today. Docs signed. Grants show status as "submitted".

[greenfeldgreenfeld5]

they have ask me to send driver licence is a passport also good? and how long will it take from there?

[cgr]

they have ask me to send driver licence is a passport also good? and how long will it take from there?

If you don't have one, yes. Tell the agent you don't have a license.
It's usually right before approval, so could be as quick as a few hours after submitting.

[hvaces42]

If you don't have one, yes. Tell the agent you don't have a license.
It's usually right before approval, so could be as quick as a few hours after submitting.

Emailed them the Drivers license yesterday. Called today. Did some credit report verification and was approved and had docs to sign within a half hour. Still waiting on Advances to be approved.

[hvaces42]

It shows up in a green box under the 'status' tab.

Been under reconsideration for weeks on my other increase and there is no indication in the account that it is in that status. Every time I call they say its the 4506T this the 4506T that. I've submitted maybe 5 times since May.

[greenfeldgreenfeld5]

got a email will get the money in 7 to 10 days. how long will it take?

[sillypainter]

got a email will get the money in 7 to 10 days. how long will it take?

Usually 2 business days unless they changed their process.

[Ver hut gazugt]

Been under reconsideration for weeks on my other increase and there is no indication in the account that it is in that status. Every time I call they say its the 4506T this the 4506T that. I've submitted maybe 5 times since May.

Keep and working at it, correct your mistakes and submit again.

Common mistakes

1) address not the exact same as tax report ( even pl vs place )
2) but name again on line 3 ( as shown on taxes)
3) make sure you put the correct type of tax number. I.e 1065 etc..
4) check the boxes that need to be checked.
5) if you are emailing you must sign by hand and scan.
6) date it and put your phone number.
7) put proper title