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

[Traveler718]

Chanuka is a time to express appreciation and thanksgiving. All of us on this thread owe a tremendous amount of hakaras hatov to @cgr, who has put millions of dollars into our collective wallets through her tireless efforts to keep us up to date on government programs, and her responses to posts and PM's helping us navigate the bureaucratic rules to help us get approved and funded.

Zos Chanuka is the perfect time to show our gratitude by sending her a contribution for her efforts and assistance at her Paypal link below:

https://www.paypal.com/donate/?cmd=_donations&business=ZJYQXNG59C4NU&currency_code=USD

[tov hashem]

One person with two businesses could get twice the targeted advance and the supplemental?

[cholent]

One person with two businesses could get twice the targeted advance and the supplemental?

If they have separate EINs, yes. It's per business not individual

[talmid chuchem]

How can I get a business tax return transcript asap?
Seems like there is no online option.

[talmid chuchem]

Applied in April, got denied, reconsidered got approved was able to request $2m but didn't see any change for months, last week they enrolled that my app had been withdrawn due to inactivity or customer request. Sent for reconsideration..... Got automated reply that it will take around 4 weeks to review. Seems like it will be too late, even after they reopen, it needs to get approved by 12/31.
Anything to do?

[Positive energy]

Where can I check for low income areas?

[Buruch]

Got the business can't be verified shpiel. When sending in the 4506-t, the SBA tips page says to request transcripts for 2019 only, and to use their version of the 4506-t with "Disaster" at the top and line 5a prefilled. The problem is they put in 2019, 2018, and 2017 on line 9. Should I use their prefilled form as is, or remove 2018 and 2017?

[cholent]

Where can I check for low income areas?

https://sbaeidl.policymap.com/newmaps#/

[cholent]

Anyone have experience applying for a rental property based on the property address vs the address of the business holding the property?

[cgr]

Chanuka is a time to express appreciation and thanksgiving. All of us on this thread owe a tremendous amount of hakaras hatov to @cgr, who has put millions of dollars into our collective wallets through her tireless efforts to keep us up to date on government programs, and her responses to posts and PM's helping us navigate the bureaucratic rules to help us get approved and funded.

Zos Chanuka is the perfect time to show our gratitude by sending her a contribution for her efforts and assistance at her Paypal link below:

https://www.paypal.com/donate/?cmd=_donations&business=ZJYQXNG59C4NU&currency_code=USD

Thank you to all of you who contributed! I don't do this for the money, but appreciation is always appreciated:)

[cgr]

Applied in April, got denied, reconsidered got approved was able to request $2m but didn't see any change for months, last week they enrolled that my app had been withdrawn due to inactivity or customer request. Sent for reconsideration..... Got automated reply that it will take around 4 weeks to review. Seems like it will be too late, even after they reopen, it needs to get approved by 12/31.
Anything to do?

Only the Supplemental Targeted ($5k) needs to be funded by 12/31. Everything else will continue processing after 12/31, as long as the application was submitted, or if denied, a reconsideration was submitted prior to 12/31.

[cgr]

Got the business can't be verified shpiel. When sending in the 4506-t, the SBA tips page says to request transcripts for 2019 only, and to use their version of the 4506-t with "Disaster" at the top and line 5a prefilled. The problem is they put in 2019, 2018, and 2017 on line 9. Should I use their prefilled form as is, or remove 2018 and 2017?

Either is fine. They won't reject if you leave 2018 and 2017, but personally I like removing it.

[cgr]

Anyone have experience applying for a rental property based on the property address vs the address of the business holding the property?

What type of tax return does the business file? If it's a 1040 Schedule E the workaround is simple (not that it always works, but there's a good chance).

[cholent]

What type of tax return does the business file? If it's a 1040 Schedule E the workaround is simple (not that it always works, but there's a good chance).

1065 to 1040 schedule e however there are 3 properties and only 2 of them have qualifying addresses

[Buruch]

Either is fine. They won't reject if you leave 2018 and 2017, but personally I like removing it.

Thanks!

[Positive energy]

https://sbaeidl.policymap.com/newmaps#/

Thanks

[cgr]

1065 to 1040 schedule e however there are 3 properties and only 2 of them have qualifying addresses

All 1065s flow through to the Schedule E- I meant to say where the actual properties and income are reported.
I don't know of a workaround for a 1065.

[cholent]

All 1065s flow through to the Schedule E- I meant to say where the actual properties and income are reported.
I don't know of a workaround for a 1065.

What's the workaround for schedule e?

[Positive energy]

Says that it closes December 10

[Pupashtetl]

I originally got denied due to  the identity issue. Now I logged in and I b"h see that the Targeted Advance says 'approved', but the supplemental advance still says 'declined'. Is that standard procedure? Could I expect the supplemental to be approved too?

Thanks

I'll try my luck once more. The Targeted advance was approved last thursaday and already funded. The supplemental $5,000 is still showing as declined. Should I wait to see what happens? Should I call? Email?

Thanks