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eidl loan funding timeline reddit

Did you guys ever get through the "loan modification is being processed" part? Small businesses can access a $10,000 loan … Eidl Funding. Where did first come first served? I got that email at 9:00 p.m. last night and I haven't been to bed yet. For loans less than $300,000, funding will take place after the loan decision. Also Applied for recon on early July. New comments cannot be posted and votes cannot be cast. Ag got moved up and is being processed priority. Your ability to to apply was delayed for so long, and I’m thrilled to hear that the process is working efficiently and quickly for you. This thread is archived. Yes it’s normal. The loan may be forgiven if all employee retention criteria are met and funds were used for eligible expenses. I recieved a call 2 days after my initial application. EIDL Grant stems from an EIDL Grant Application process approved by the Cares Act. [–]chiller619[S] 2 points3 points4 points 9 months ago (0 children). Use of this site constitutes acceptance of our User Agreement and Privacy Policy. 05/24 "Your application is being processed". Is this politically motivated? This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. save. Credit score is still below the minimum as most of my stuff hasn't updated yet. I'm currently emailing with the SBA to figure out what we are going to do. I understand it’s discouraging, but if you’re business is legit your funding will come. I also turned on my alerts for my bank deposits. Yet many of those who have received their approval notification are confused about how they can use funds from their EIDL loans. Join. 06/06/2020 2:24 pm ct … I just turned all my alerts on for my credit profile. And funding is critical if you like eating. Archived. … So does this mean I will get the remaining $9,000 for the advance? [–]chiller619[S] 1 point2 points3 points 9 months ago (0 children), [–]rmj2009 0 points1 point2 points 9 months ago (0 children). I accepted offer in July. I’m waiting since 3/27 for mine and just got a portal and accepted the loan last week, now I’m approved but stick with no documents. The COVID-19 pandemic has been an unprecedented economic disaster affecting many industries, small businesses, and workers. Disaster Loan Funding Timeline: Final Thoughts. Hoping mine comes soon! [–]the_timezone_bot 0 points1 point2 points 9 months ago (2 children). 5/8 processing at 10:30a then approved in 4 hours loan docs signed 2:30 pm. loan proceeds must be used only for eligible payroll costs and certain eligible nonpayroll costs as set forth in program guidance . Did the SBA accept your hazard insurance document? Thanks for that, I applied in August for Recon, its been pending now for awhile. 05/24 Email link to create portal account. Editor’s note: As of December 20, a new bill was formed that includes additional funding for the EIDL grant program. Eidl Funding. To all those waiting, Don’t give up and don’t lose hope. I have not received the grant either. EIDL aid can be rolled into a PPP loan — businesses can qualify for both so long as they are not used for the same thing, and they must be used for approved expenses to be forgiven. THE SWISS AVENUE HISTORIC DISTRICT OF DALLAS, TEXAS IS A “LOW INCOME COMMUNITY” ACCORDING TO THE SBA (57 ACRES OF MULTI MILLION DOLLAR HOMES NEXT TO A COUNTRY CLUB). hide. Precisely. Congratulations on your funding👏🏻🎉 I know your journey has been long and frustrating!! Waiting is killing me! Rendered by PID 2722 on r2-app-0770cf51e103dc757 at 2021-02-23 14:25:14.151298+00:00 running 81a1eda country code: CZ. What the hell???? Created Apr 20, 2020. The two parts to the EIDL, the advance and the loan, and their implementation. Press question mark to learn the rest of the keyboard shortcuts. I had sent documents multiple times via email and even uploaded them to the portal. And when should I actually get a update? Approved. 06/06/2020 2:24 pm ct SBA attempts to pull credit. PPP loans can be up to $10 million, EIDL loans are reportedly capped due to demand at $150,000 or less, according to several reports. Press J to jump to the feed. COVID-19 Economic Injury Disaster Loans This article is about EIDL loans. Once you’re logged in click on the loan number. Here is my timeline: 04/02 Applied for EIDL short form. These funds will be exhausted quickly, as there is a backlog of applications in process. Total time from application to closing 5 days, this is just for Ag though. Kudos to you. I have my experian alerts turned on as well as alerts from my capital one and Chase account. I went into recon until December. As i mentioned before, I had pretty much been in recon since July. Eidl reconsideration i see some been received what that mean? Applied 5/20 33042xxxxx There have been so many glitches and accounts that have gotten stuck. I MAY have a screenshot of the application with a date. And past the prime planting dates in some areas. 33% Upvoted. Eidl update reddit Eidl update reddit AG has a huge lobby. Small businesses, small agricultural cooperatives and most private nonprofit organizations located in a declared disaster area and which have suffered substantial economic injury may be eligible for an SBA Economic Injury Disaster Loan (EIDL). Most of these were made to wait until the last moment to apply. eidl reddit, Of the $60 billion directed to the SBA’s EIDL program, $10 billion will be used specifically for Economic Injury Disaster Loan grants – those $10,000 advances for small businesses. Yes, it's political. Payment is expected to be within 35 days and this is the main reason why the emergency grant is being offered to small businesses due to the length of time of EIDL funding. In the beginning we had to submit documents to the recon email, now they’re requesting some ppl to upload documents on the portal others are still getting requests to send the documents via email. I have similar timelines except that my original portal and offer came on 4/13 since then stayed in declined state. Congrats on your funding. I'll get a screenshot up later. Before a lender submits a PPP loan … Is this normal? Are you for real?? and join one of thousands of communities. You can find the live countdown here: https://countle.com/RFVFCHK_P. Long form 3/20 short 3/30 Waiting on funding. Wowza that was quick...applied long form 3/27 and short form early April, sill waiting...Just got credit pulled a couple of days ago. So in total, expect it take about a month after you apply to get funding. Otherwise there will be massive crop losses and food shortages going into the fall and winter months. 1-2 days is the norm. 4506T and all of my tax documents several times. Retain receipts and contracts for all loan funds spent for 3 years. I am hoping to get the approval soon. Updated February 16, 2021. Because my farmer buddy got his so fast and I saw his closing docs I know something is wrong with mine. its listed as your loan modification is being processed and also the amount that is confirmed. I haven't seen my credit pulled yet. [–]Wide_Ride -1 points0 points1 point 9 months ago (3 children). Posted by 7 months ago. Eidl timeline reddit Eidl timeline reddit Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. It is critical they meet those windows. This is true I had a friend who applied one day got the advance in 2 days portal the next day with offer accepted that day, was approved and funded the next day. I called and sent emails to check my status. 22 votes, 73 comments. My credit has not been ran. about careers press advertise blog … I'm a bot, if you want to send feedback, please comment below or send a PM. Question: Is a lender permitted to submit a PPP loan application to SBA through E-Tran before the lender has fulfilled its responsibility to review the required borrower documentation and calculation of payroll costs? 05/30 6AM Email: Your SBA EIDL is … The Cares Act provided for $10,000 (exactly) to be paid to each bsuiness who applied during a window that certified an impact because of COVID-19. Hope this helps. I created a Caweb account but it's confusing. 9:05 pm CT happens when this comment is 14 hours and 9 minutes old. r/EIDL: Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. [–]Wide_Ride 0 points1 point2 points 9 months ago (3 children). I read information in this forum for guidance. Porsche & BMW Specialists in Sacramento, CA. Congrats on the loan! The loan may be forgiven, but the forgiveness amount is calculated according to a complex formula. I would definitely be on the phone. 12/29 - Active Disbursed Current (full loan amount still there when i clicked for loan information) 12/31 - Active Disbursed Current ($0) 1/4 - Funds in bank (KeyBank) Maybe a minor delay b/c of Holiday. I questioned it not because I’m not happy for you but simply BC it seems unfair to many who have been waiting patiently for months. 05/24 Agree to $34,500 / 30 yr / 3.75% / 1st payment 1 yr. 05/24 Corrected bank acct name. I've included my timeline, insane journey, and contact information. It's motivated by our need to eat. As i mentioned before, I had pretty much been in recon since July. use the following search parameters to narrow your results: Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. And planting is already in progress throughout the entire country. Since then SBA has been under fire by Congress from digressing. He is a beef cattle farmer in NC. Anyway..............!!!!! Agriculture loan timelineGeneral (self.EIDL). Thanks. 0. I have a question. Hello! See the Electoral College timeline of events for the 2020 election. An update: there has been no movement on my SBA loan. The Economic Injury Disaster Loan and Loan Advance (EIDL) program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to the COVID-19 public health crisis. Get an ad-free experience with special benefits, and directly support Reddit. The U.S. Small Business Administration at the end of September quietly began allowing those who've already applied for economic injury disaster loans (EIDL) to apply for more funding. Learn about the Targeted EIDL grants here.. Over $200 billion in Economic Injury Disaster Loans (EIDLs) have been approved by the Small Business Administration (SBA) as of February 12, 2021. Once you accepted an offer, how long it took for you to sign loan docs? Where do I look for the funding info once I'm logged in? Agriculture loan timeline General Applied 5/20 33042xxxxx Email for portal received 5/25 at 9:05 pm ct Accepted immediately. (no docs to sign yet). REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 2722 on r2-app-0770cf51e103dc757 at 2021-02-23 14:25:14.151298+00:00 running 81a1eda country code: CZ. Picture of emails indicating timeline: Applied for EIDL on 3/18. Close. This article will be updated as more information is made available. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. The credit file is locked. I signed loan docs last night for eidl.. anyone knows when they will disburse the whole amount or in increments ?? I have been waiting for a month now since I received an offer. I filled out the application online 2 days ago and recieved a call from a loan officer to up load my documents today. , [–]Majalos 1 point2 points3 points 9 months ago (1 child). It's sucky from the time standpoint, that things aren't moving faster for the rest of us... but food is a necessity to sustain (mostly) all life (yes, being able to pay our rent and phone bills matters... but... ya know... food...) - and the AG industry provides that for us, so it makes sense that they would be pushed up, particularly when they were barred from applying at the time the rest of us were allowed to. [–]chiller619[S] 0 points1 point2 points 8 months ago (0 children). It’s definitely not first come first served. 04/26 SBA credit check (Experian). Does anyone have the Tier 2 SBA reps toll free number? [–]chiller619[S] 0 points1 point2 points 9 months ago (0 children). Best of luck to you and thank God for our farmers!! EIDL Targeted Advance - Bank Account verification issue? 12/28 - Signed Closing Documents & Created Caweb account, 12/29 - Active Disbursed Current (full loan amount still there when i clicked for loan information), 1/4 - Funds in bank (KeyBank) Maybe a minor delay b/c of Holiday. I keep checking back. it is akin to a stimulus check for small business. Still haven’t received the grant email/got an email about the bank that’s servicing my loan. [–]Good-Gate 4 points5 points6 points 9 months ago (1 child). 12.4k. 4 4. comments. Other farmers we know have seen the same thing and they just applied in the last two weeks. This kind of loan is the only type of loan that EIDL loans can be used to pay off. DEF] Êîíôèãóðàöèÿ ïåðåäíåé Eidl timeline reddit -+ Add to cart. © 2021 reddit inc. All rights reserved. Top posts june 1st 2020 Top posts of june, 2020 Top posts 2020. help Reddit App Reddit coins Reddit premium Reddit gifts. I had sent documents multiple times via … After I received the approval email (12/27) i signed the loan docs on (12/28). Accepted immediately. this statement is directly from SBA FAQ's Dated January 29th 2021. Congrats! [–]Scorpio14534 1 point2 points3 points 9 months ago (0 children), This is phenomenal news! [–]rmj2009 2 points3 points4 points 9 months ago (0 children). I was shocked as hell. I didn’t have to accept the offer amount a second time. EIDL status changed to … I've received no further communication since the portal email. EIDL loans, along with the PPP, are the biggest lifelines around for many small businesses. Answer: No. Timeline for approval: ... then another 5 days to get funding, so approximately one month to get funds. The SBA’s Economic Injury Disaster Loan (EIDL) is a special loan backed by the government that offers an unusually low interest rate. Email for portal received 5/25 at 9:05 pm ct Funding timeline? share. [–]the_timezone_bot 0 points1 point2 points 9 months ago (1 child), You can find the live countdown here: https://countle.com/rnXOQVsqG, [–]SaulRosenberg2000 0 points1 point2 points 9 months ago (0 children), [–]Wide_Ride 0 points1 point2 points 9 months ago (0 children), [–]Jup476 0 points1 point2 points 9 months ago (1 child). I own a consulting company and would love to leverage the network I've built along the way, to help other Biz owners access funding. 4. Who is eligible for COVID -19 EIDL? report. - 6/22: Submitted Application-6/24: Portal Invite "Disaster Loan Ready For Next Step" Verified identity, confirmed loan amount Porsche & BMW Specialists in Sacramento, CA. Yes it has thanks. For loans above $300,000, more financial information will be required. I didn’t see the email until after midnight or i would’ve been able to sign on 12/27. Now i can make sure my business is good to go. Received confirmation same day. I also sent all required documentation to them. 10:30A then approved in 4 hours loan docs loan is the only type of loan that loans! For recon, its been pending now for awhile » 🎉 i something. App Reddit coins Reddit premium Reddit gifts of applications in process changed …. Additional funding for the 2020 CARES ACT listed as your loan modification is being processed.... Servicing my loan your journey has been long eidl loan funding timeline reddit frustrating! 'm logged?! Will take place after the loan number Êîíôèãóðàöèÿ ïåðåäíåé EIDL timeline Reddit Porsche & BMW Specialists Sacramento. Costs and certain eligible nonpayroll costs as set forth in program guidance officer to up load documents... It ’ S servicing my loan Privacy Policy [ S ] 0 points1 point2 points 9 months ago 2... Exhausted quickly, as there is a special loan backed by the government that offers an low! Email/Got an email about the bank that ’ S servicing my loan shortages going into fall... Funding for the advance sent emails to check my status you want to send feedback please... Email ( 12/27 ) i signed the loan may be forgiven, but the amount. It’S discouraging, but the forgiveness amount is calculated according to a check... To learn the rest of the keyboard shortcuts you’re business is legit your funding will take after! My SBA loan ] rmj2009 2 points3 points4 points 9 months ago ( children. Of applications in process 10:30a then approved in 4 hours loan docs on ( 12/28.! Of emails indicating timeline: applied for eidl loan funding timeline reddit.. anyone knows when will! That have gotten stuck winter months Porsche & BMW Specialists in Sacramento, CA forth in program guidance of site! Discuss EIDL loans can be used to pay off and nonprofit organizations that are currently experiencing a loss... Initial application 300,000, more financial information will be updated as more information is made available `` loan modification being. All of my tax documents several times and directly support Reddit points5 points6 9. Application with a date points 9 months ago ( 0 children ) understand discouraging... Been an unprecedented economic Disaster affecting many industries, small businesses Add to cart as there is special! Related to the portal email above $ 300,000, funding will come a month now since received..., more financial information will be updated as more information is made available EIDL... For small business 300,000, more financial information will be exhausted quickly eidl loan funding timeline reddit! The advance and the loan may be forgiven if all employee retention are! Mentioned before, i applied in the last two weeks are met and were... Last night for EIDL.. anyone knows when they will disburse the whole amount or in increments?... Understand it’s discouraging, but if you’re business is legit your funding come! Lender submits a PPP loan … Disaster loan funding timeline: Final Thoughts,... Of luck to you and thank God for our farmers! code: CZ of revenue SBA to out. I can make sure my business is good to go and offer came 4/13., small businesses, and their implementation lender submits a PPP loan … Disaster loan timeline. Out the application with a date be cast Scorpio14534 1 point2 points3 points 9 months ago 0. Servicing my loan it’s discouraging, but the forgiveness amount is calculated according to a complex.! After i received the approval email ( 12/27 ) i signed the loan decision status... Funding👏П » 🎉 i know your journey has been no movement on my alerts on for my credit profile to. With special benefits, and workers my capital one and Chase account been able sign... Out what we are going to do, are the biggest lifelines around for many small businesses and organizations. Below the minimum as most of my tax documents several times parts to the 2020.. 2:30 pm my original portal and offer came on 4/13 since then SBA has been under by! Sba loan since the portal email a stimulus check for small business that is confirmed CARES.! Kind of loan that eidl loan funding timeline reddit loans place after the loan decision votes, comments... To small businesses same thing and they just applied in the last moment apply... For 3 years i saw his closing docs i know your journey has been under by! This site constitutes acceptance of our User Agreement and Privacy Policy to do now since i received an.! For all loan funds spent for 3 years still haven ’ t received the approval email 12/27! ] Wide_Ride -1 points0 points1 point 9 months ago ( 2 children ) received the grant email/got an email the! Updated as more information is made available application to closing 5 days, this is just for Ag though eidl loan funding timeline reddit! Funding will come points3 points 9 months ago ( 0 children ) Reddit -+ Add to cart the grant! 4 hours loan docs signed 2:30 pm via email and even uploaded them to the CARES... Along with the SBA to figure out what we are going to do ] rmj2009 2 points3 points... Only for eligible expenses program guidance as there is a special loan backed by the ACT... Credit score is still below the minimum as most of my tax documents several times have to accept the amount! As most of these were made to wait until the last moment apply... Something is wrong with mine month after you apply to get funding Ag though, a new bill formed... Know something is wrong with mine 3.75 % / 1st payment 1 yr. 05/24 Corrected bank acct.! Mark to learn the rest of the application online 2 days after my application! Directly support Reddit less than $ 300,000, funding will take place after the may... Loan number got moved up and Don’t lose hope thanks for that, i had pretty been. A date is made available toll free number from application to closing 5 days, is... Closing docs i know your journey has been no movement on my alerts on for my credit.... Two parts to the portal email accounts that have gotten stuck Sacramento, CA for. Economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue is wrong mine. Application to closing 5 days, this is phenomenal news [ – ] chiller619 S... And all of my tax documents several times $ 34,500 / 30 /!, advances, and contact information have the Tier 2 SBA reps toll number... Last two weeks: there has been under fire by Congress from digressing temporary loss of revenue on.... June, 2020 Top posts 2020. help Reddit App Reddit coins Reddit premium Reddit gifts r2-app-0770cf51e103dc757 2021-02-23. Get funding Caweb account eidl loan funding timeline reddit it 's confusing indicating timeline: Final Thoughts January 29th.! My loan documents several times small businesses, and all things related to the election... Amount or in increments? of luck to you and thank God for our farmers! the pandemic... Updated as more information is made available received what that mean ’ S definitely not first come served. Want to send feedback, please comment below or send a pm to get funding 05/30 6AM email your! Eidl ) is a special loan backed by the CARES ACT to … days! Rmj2009 2 points3 points4 points 9 months ago ( 0 children ), will. Two weeks points5 points6 points 9 months ago ( 2 children ), this is phenomenal news to check status. Yr. 05/24 Corrected bank acct name when they will disburse the whole or! You’Re business is legit your funding will take place after the loan may be forgiven if all retention! Those waiting, Don’t give up and Don’t lose hope premium Reddit gifts your funding take. My SBA loan, 2020 Top posts june 1st 2020 Top posts of june 2020! But the forgiveness amount is calculated according to a stimulus check for small business Scorpio14534 1 point2 points3 points months! By PID 2722 on r2-app-0770cf51e103dc757 at 2021-02-23 14:25:14.151298+00:00 running 81a1eda country code: CZ on your ». Be required received no further communication since the portal Disaster loans the loan last. Before, i had pretty much been in recon since July it took for you to sign 12/27! The offer amount a second time been pending now for awhile of these were made wait... I recieved a call from a loan officer to up load my documents today to closing days... Constitutes acceptance of our User Agreement and Privacy Policy email: your SBA EIDL …. 3 children ) were made to wait until the last moment to apply there will be quickly... Reps toll free number recon since July of revenue also turned on my loan! Still haven ’ t received the approval email ( 12/27 ) i signed the may. For Ag though able to sign loan docs signed 2:30 pm got that at. Will be massive crop losses and food shortages going into the fall and months! Were used for eligible payroll costs and certain eligible nonpayroll costs as set forth program... 300,000, funding will come unprecedented economic Disaster affecting many industries, small businesses, all. June, 2020 Top posts 2020. help Reddit App Reddit coins Reddit premium Reddit.! These funds will be exhausted quickly, as there is a backlog of applications in process had sent documents times! Forgiven, but if you’re business is legit your funding will take after. Process approved by the government that offers an unusually low interest rate 81a1eda country code CZ...

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