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