Has anyone from 3300 group gotten an email yet, Eidl anyone in my group here 33012xxxxx received targeted EIDL GRANT ADVANCE. Krista Swanson, Gary Schnitkey, Nick Paulson, Jonathan Coppess, and Carl Zulauf • Krista Swanson • The most recent legislation enacted by Congress for relief during the Covid-19 pandemic has clarified that farmers are eligible for a low interest, non-forgivable loan of up to $150,000. See the Loan Programs Chart to view the following information about the 7(a), SBA Express, CAPLines, Small Loan Advantage, Community Advantage, International Trade, Export Working Capital, Export Express, 504, and Microloan loan programs: On July 4, 2020, Public Law 116-147 extended the authority for SBA to guarantee PPP loans to August 8, 2020. We have 2 business 1 i own and the other one its my father’s, i applied before my father about a month ago when it was for agriculture, my father got funded on jun 19 and no grants yet , i called SBA several times and they assure me that they are working on it and i get email from them saying they cant locate my file so I submitted another app , they email me again saying i have duplicate app so they will use my first one that they could not locate before , i called again today after waiting one hour , she said my application its getting funded i get really excited to hear that then i realized i didn’t even get the portal to log in or the documents to sign or anything , so i told her wait a minute how Im getting funded if i didn’t sign any doc or receive portal invite or anything , she puts me on hold for another 5 min and says can you verify your account number , i did gave her the info , she said ok i will advice you to just wait and don’t fill any new application , i told ok but whats the status now and how come you said its going to get funded if i didn’t even accept any loan yet , phone get dropped and that was it , i called again I stayed on hold and keep getting disconnected after one hour waiting , i don’t understand whats going on now , do they just lie or can it actually be funded like this , i need advice please. If you're pissed don't worry, eventually you'll lose all hope and join the rest of us. UPDATE: July 7, 2020: The Small Business Administration (SBA) for the first time Monday disclosed the list of Paycheck Protection Program (PPP) funding recipients. © 2021 reddit inc. All rights reserved. So he filled out an application for a business loan and put amounts on it for revenue and COGS, but has never filed taxes on it? This is not anything new. r/EIDLPPP: Paycheck Protection Program & Economic Injury Disaster Loan Discussion for the 2020 COVID-19 disaster. I'm a few steps closer to being funded. July 15, 2020 at 10:00 a.m. UTC An apartment building in Chicago, one of the most densely populated cities in America, is not an obvious place to raise crops. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. and join one of thousands of communities. ABA Data On August 4, 2020 I received a email from my bank (Keesler An SBA-backed loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. To be considered for an expedited loan advance of up to $10,000, select the check box at the July 29, 2020 July 29, 2020 Alan Wolf By Alan Wolf, YSN While Congress wrangles over the next phase of pandemic relief, BrandSource reminds members that there are still plenty of federal funds … UPDATE: June 22, 2020: The SBA and the Treasury Department said Friday they would disclose the names, addresses, ZIP codes, demographic … Visit the Financial Relief Law Center, APC blog to learn more. I would absolutely accept a $10,000 forgivable loan, but nothing indicates that this is 100% forgivable. If you have any questions about this issue or need assistance completing the form and assembling supporting documentation, please contact us . As of July 31, 2020, SBA had received over 14 million COVID-19 EIDL applications, of which it approved 3.2 million for a total of $169.3 billion. GBQ’s COVID-19 response team provides answers to questions submitted during the webinar COVID-19: SBA PPP Loans – Update on the PPP Flexibility Act of 2020 presented on June 8, 2020. This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. Rendered by PID 22239 on r2-app-0eee3937b21ed3afd at 2021-02-09 01:29:02.780437+00:00 running 2fef029 country code: FR. To apply for an EIDL loan, visit the SBA’s COVID-19 Economic Injury Disaster Loan Application. An SBA 7(a) loan is a loan for qualified small businesses in the U.S. that is partially guaranteed by the Small Business Administration. EIDL Grant Balance email in Census Tract <20% poverty level but <80% Statewide Income? There are different kinds of SBA 7(a) loans that are designed to meet unique needs in certain industries. July 15, 2020, 17:43 5:43 pm macie #1001932 so will the SBA send a tax form to report the $1,000 advance amount (or whatever advance someone is granted) to report on tax returns for next year? However, I'm not trying to take out a loan with interest and payments. One week after issuing a Loan Forgiveness Application and step-by-step borrower instructions (discussed in an earlier blog), the Small Business Administration (SBA) released two interim final rules (IFRs) on the Paycheck Protection Program (PPP) loan forgiveness requirements and roles and responsibilities of borrowers and lenders. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 22239 on r2-app-0eee3937b21ed3afd at 2021-02-09 01:29:02.780437+00:00 running 2fef029 country code: FR. We will guide you through the different 7(a) programs below. I was just approved by the SBA for up to $350,000 at 3.75% (360*****). Got the loan but no grant (sba ran out of funds ) back in July 2020 and reapplied last week before current guidance came out What if I got an eidl loan July 2020 but did not receive a grant coz sba ran out of funds , loan increase recon processing as we speak...I thought about re-applying before the new guidance came out both 331 … Farmers and other agricultural businesses who apply for the loan … On July 11, 2020, the U.S. Small Business Administration (SBA) announced it would no longer be granting advances under the Economic Injury Disaster Loan (EIDL) program. Finally!!! The IFRs cover the process for loan … In another instance, it is alleged that on April 6, 2020, Butziger filed an application seeking a PPP loan as the owner of an unincorporated entity named Dock Wireless. Learn about the Small Business Administration's SBA 504 Loan interest rate in July 2020. One owner went online to the SBA site and found someone else's date of birth, social security number, email, phone numbers and business address all filled in on the loan registration page. A service company would have no COGS, but again if he did not file a tax return and report the income, he does not have a business. We do not share or sell any personal information PPP Loan Application Status / CASE STUDY SBA’s 2020 Weekly Lending Reports: SBA offers a variety of loan programs for very specific purposes. These loans and grants are for businesses only. The SBA’s 504 loan program for limited to purchases of fixed assets and real estate. 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. For Immediate Release Contact: Dr. Timla G. Washington Updated: April 6, 2020 662-335-9003 High Alert CORONAVIRUS/COVID-19 Response to Recovery Before I begin my update, I want to thank all of the individuals in the health care field for the selfless work they are doing to save lives in Mississippi and all across the … Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. [–]Scorpio14534 2 points3 points4 points 1 month ago (3 children). Received Targeted email: my question is are they going by my 2019 info on my taxes or my 2020? If you want to punch back, contact your local congress people, file a complaint with the SBA Inspector General, and don't give up until you get what your tax money is paying for. Get an ad-free experience with special benefits, and directly support Reddit. The Small Business Administration announced that it has tentative plans to begin accepting lender forgiveness decision information on August 10 using a new “PPP Forgiveness Platform.” [1] Note that this platform is They lie to us, hang up on us, and mess with our applications and data. On July 27, 2020 I received an approval notice for the Loan. Those amounts are supposed to be reported from your 2019 business tax return. Trump Signs Bill to Extend Small Business Loan Program to Aug. 8 By Megan Howard, July 4, 2020, 8:54 AM EDT President Donald Trump. [–]104848 0 points1 point2 points 1 month ago (0 children), the eidl app your fiance filled out doesn't have a grant attached to it, the sba has to release guidance for the new eidl loan & grant program next week in order to comply with the new hustleus bill signed on the 27th. Looks like you're using new Reddit on an old browser. We use cookies to ensure that we give you the best experience on our website. Which is exactly what the SBA is trying to accomplish. The SBA may seek repayment of the loan or pursue other available remedies. It might have been asked already but what order does the SBA take to email businesses who qualify for EIDL advance? The SBA also capped the amount of funding at $1,000 per employee, diverging from the CARES Act's original intent of paying any sum requested by a business owner up to $10,000. Current SBA loan rates – as of July 1, 2020 The SBA sets a maximum rate that Even if a lender doesn’t ask for a formal business plan, they are certain to require information and documents that are typically contained … COVID-19 Economic Injury Disaster Loans I'm intelligent but not in that aspect whatsoever, [–]Stimuleye 0 points1 point2 points 1 month ago (1 child), There were no COGS though, he only offered services, [–]Scorpio14534 0 points1 point2 points 1 month ago* (0 children). In addition, on July 6, 2020, the SBA and the Treasury Department released the complete database of all PPP loans issued to date—approximately 4.9 million. Press question mark to learn the rest of the keyboard shortcuts. can someone tell me how to upload my banking info i have signed sba 2483 ppp form but see He might have a bigger problem than just not getting the grant... [–]Stimuleye 0 points1 point2 points 1 month ago (0 children), I may be wrong then, it's like Greek to me. On July 10,2020 I received an update from SBA requiring that I submit information to verify my business. If your business received a PPP loan but is still struggling, you may be wondering how default or filing for bankruptcy affects you and your business. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. These reports detail weekly lending activity for SBA loan programs. SBA sent for my transcripts 10/16/2020 SBA received transcripts 11/03/2020 Received portal 11/25/2020 Then entirely crickets until approval on 12/28/2020 Funded 01/04/2021 early in the morning PLEASE NOTE MY LOAN Application can be made during 2020. New comments cannot be posted and votes cannot be cast. SBA EIDL loan maxed out at $25,000 I’ve read everywhere and anywhere that the SBA EIDL loan offered loans up to $2 million for qualifying local businesses. Covered Period 1. Even though you don’t need a business plan to apply for a 504 loan, many lenders ask for one. What a Business Plan Is Good For First and foremost, a business plan benefits you.