There have been so many glitches and accounts that have gotten stuck. Where did first come first served? [–]the_timezone_bot 0 points1 point2 points 9 months ago (2 children). Eidl reconsideration i see some been received what that mean? 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. 5/8 processing at 10:30a then approved in 4 hours loan docs signed 2:30 pm. I have been waiting for a month now since I received an offer. Precisely. Hope this helps. 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. 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. 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. Ag got moved up and is being processed priority. It’s definitely not first come first served. 12.4k. Created Apr 20, 2020. Anyway..............!!!!! 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). Join. Congrats on the loan! I had sent documents multiple times via email and even uploaded them to the portal. it is akin to a stimulus check for small business. Press question mark to learn the rest of the keyboard shortcuts. Press J to jump to the feed. Once you accepted an offer, how long it took for you to sign loan docs? © 2021 reddit inc. All rights reserved. loan proceeds must be used only for eligible payroll costs and certain eligible nonpayroll costs as set forth in program guidance . I keep checking back. and join one of thousands of communities. - 6/22: Submitted Application-6/24: Portal Invite "Disaster Loan Ready For Next Step" Verified identity, confirmed loan amount 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). Eidl Funding. (no docs to sign yet). The credit file is locked. Waiting is killing me! 05/24 "Your application is being processed". Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. It is critical they meet those windows. 33% Upvoted. 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. I filled out the application online 2 days ago and recieved a call from a loan officer to up load my documents today. Top posts june 1st 2020 Top posts of june, 2020 Top posts 2020. help Reddit App Reddit coins Reddit premium Reddit gifts. Small businesses can access a $10,000 loan … I have my experian alerts turned on as well as alerts from my capital one and Chase account. 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. Accepted immediately. [–]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). 22 votes, 73 comments. report. Is this politically motivated? [–]chiller619[S] 0 points1 point2 points 8 months ago (0 children). Before a lender submits a PPP loan … See the Electoral College timeline of events for the 2020 election. 0. 9:05 pm CT happens when this comment is 14 hours and 9 minutes old. So does this mean I will get the remaining $9,000 for the advance? And when should I actually get a update? [–]Scorpio14534 1 point2 points3 points 9 months ago (0 children), This is phenomenal news! I got that email at 9:00 p.m. last night and I haven't been to bed yet. 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. New comments cannot be posted and votes cannot be cast. After I received the approval email (12/27) i signed the loan docs on (12/28). [–]chiller619[S] 0 points1 point2 points 9 months ago (0 children). 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. Timeline for approval: ... then another 5 days to get funding, so approximately one month to get funds. This article is about EIDL loans. Did the SBA accept your hazard insurance document? Eidl timeline reddit Eidl timeline reddit For loans above $300,000, more financial information will be required. Once you’re logged in click on the loan number. I'm a bot, if you want to send feedback, please comment below or send a PM. I just turned all my alerts on for my credit profile. Does anyone have the Tier 2 SBA reps toll free number? 04/26 SBA credit check (Experian). Here is my timeline: 04/02 Applied for EIDL short form. I recieved a call 2 days after my initial application. Yes it has thanks. What the hell???? I'm currently emailing with the SBA to figure out what we are going to do. [–]chiller619[S] 2 points3 points4 points 9 months ago (0 children). I've included my timeline, insane journey, and contact information. Thanks for that, I applied in August for Recon, its been pending now for awhile. The two parts to the EIDL, the advance and the loan, and their implementation. 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. 4 4. comments. Get an ad-free experience with special benefits, and directly support Reddit. … And planting is already in progress throughout the entire country. The loan may be forgiven, but the forgiveness amount is calculated according to a complex formula. DEF] Êîíôèãóðàöèÿ ïåðåäíåé Eidl timeline reddit -+ Add to cart. Updated February 16, 2021. I created a Caweb account but it's confusing. hide. And funding is critical if you like eating. I am hoping to get the approval soon. Yes, it's political. Also Applied for recon on early July. 4. Who is eligible for COVID -19 EIDL? [–]Good-Gate 4 points5 points6 points 9 months ago (1 child). Did you guys ever get through the "loan modification is being processed" part? I accepted offer in July. Are you for real?? Where do I look for the funding info once I'm logged in? 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. [–]rmj2009 2 points3 points4 points 9 months ago (0 children). Answer: No. I haven't seen my credit pulled yet. Otherwise there will be massive crop losses and food shortages going into the fall and winter months. The SBA’s Economic Injury Disaster Loan (EIDL) is a special loan backed by the government that offers an unusually low interest rate. Kudos to you. Agriculture loan timeline General Applied 5/20 33042xxxxx Email for portal received 5/25 at 9:05 pm ct Accepted immediately. Yes it’s normal. I've received no further communication since the portal email. save. 4506T and all of my tax documents several times. 05/24 Agree to $34,500 / 30 yr / 3.75% / 1st payment 1 yr. 05/24 Corrected bank acct name. I MAY have a screenshot of the application with a date. Eidl Funding. I read information in this forum for guidance. The COVID-19 pandemic has been an unprecedented economic disaster affecting many industries, small businesses, and workers. So in total, expect it take about a month after you apply to get funding. Congrats! To all those waiting, Don’t give up and don’t lose hope. 06/06/2020 2:24 pm ct SBA attempts to pull credit. Credit score is still below the minimum as most of my stuff hasn't updated yet. Congratulations on your funding👏🏻🎉 I know your journey has been long and frustrating!! Most of these were made to wait until the last moment to apply. Now i can make sure my business is good to go. 1-2 days is the norm. Other farmers we know have seen the same thing and they just applied in the last two weeks. I had sent documents multiple times via … Funding timeline? This kind of loan is the only type of loan that EIDL loans can be used to pay off. Porsche & BMW Specialists in Sacramento, CA. Porsche & BMW Specialists in Sacramento, CA. 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. Best of luck to you and thank God for our farmers!! [–]chiller619[S] 1 point2 points3 points 9 months ago (0 children), [–]rmj2009 0 points1 point2 points 9 months ago (0 children). this statement is directly from SBA FAQ's Dated January 29th 2021. I also turned on my alerts for my bank deposits. I'll get a screenshot up later. , [–]Majalos 1 point2 points3 points 9 months ago (1 child). r/EIDL: Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. Close. Yet many of those who have received their approval notification are confused about how they can use funds from their EIDL loans. Rendered by PID 2722 on r2-app-0770cf51e103dc757 at 2021-02-23 14:25:14.151298+00:00 running 81a1eda country code: CZ. My credit has not been ran. AG has a huge lobby. about careers press advertise blog … 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. An update: there has been no movement on my SBA loan. Long form 3/20 short 3/30 Waiting on funding. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. [–]Wide_Ride 0 points1 point2 points 9 months ago (3 children). I went into recon until December. EIDL Grant stems from an EIDL Grant Application process approved by the Cares Act. As i mentioned before, I had pretty much been in recon since July. Hello! This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. Picture of emails indicating timeline: Applied for EIDL on 3/18. [–]Wide_Ride -1 points0 points1 point 9 months ago (3 children). I understand it’s discouraging, but if you’re business is legit your funding will come. I called and sent emails to check my status. Approved. These funds will be exhausted quickly, as there is a backlog of applications in process. Disaster Loan Funding Timeline: Final Thoughts. EIDL loans, along with the PPP, are the biggest lifelines around for many small businesses. Posted by 7 months ago. I signed loan docs last night for eidl.. anyone knows when they will disburse the whole amount or in increments ?? Because my farmer buddy got his so fast and I saw his closing docs I know something is wrong with mine. 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. It's motivated by our need to eat. 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 didn’t see the email until after midnight or i would’ve been able to sign on 12/27. Agriculture loan timelineGeneral (self.EIDL). Archived. This article will be updated as more information is made available. Hoping mine comes soon! I didn’t have to accept the offer amount a second time. I have not received the grant either. Applied 5/20 33042xxxxx You can find the live countdown here: https://countle.com/RFVFCHK_P. 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. And past the prime planting dates in some areas. He is a beef cattle farmer in NC. EIDL status changed to … Since then SBA has been under fire by Congress from digressing. 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. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. Total time from application to closing 5 days, this is just for Ag though. Retain receipts and contracts for all loan funds spent for 3 years. Email for portal received 5/25 at 9:05 pm ct COVID-19 Economic Injury Disaster Loans I was shocked as hell. its listed as your loan modification is being processed and also the amount that is confirmed. I have similar timelines except that my original portal and offer came on 4/13 since then stayed in declined state. The loan may be forgiven if all employee retention criteria are met and funds were used for eligible expenses. I have a question. 06/06/2020 2:24 pm ct … 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. Still haven’t received the grant email/got an email about the bank that’s servicing my loan. EIDL Targeted Advance - Bank Account verification issue? share. Thanks. Received confirmation same day. 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? For loans less than $300,000, funding will take place after the loan decision. Eidl update reddit Eidl update reddit 05/30 6AM Email: Your SBA EIDL is … As i mentioned before, I had pretty much been in recon since July. I also sent all required documentation to them. This thread is archived. 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 would definitely be on the phone. Congrats on your funding. 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’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. Is this normal? 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