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Started By
Message
re: EIDL Increase Email
Posted on 7/12/21 at 10:56 am to Jjdoc
Posted on 7/12/21 at 10:56 am to Jjdoc
Send an email to the address listed in the quoted document and provide all of the information requested in the document to get the ball rolling.
quote:
Dear SBA borrower,
According to our records, you received a COVID-19 Economic Injury Disaster Loan (EIDL) from the U.S. Small Business Administration (SBA) to help your business weather the financial hardships brought on by the pandemic. These loans were previously limited to six months of economic injury up to a maximum of $150,000. The SBA recently announced a policy change that significantly increases loan limits up to 24 months of economic injury with a maximum loan amount of $500,000.
We are reaching out to inform you that the SBA's new increased loan limits for the COVID-19 EIDL program are now in effect and you may be eligible to receive additional loan funds. Please be advised that for loan amounts over $25,000, SBA will continue to take a security interest in business assets evidenced by a general security agreement and UCC filing. SBA will also require an unsecured personal guarantee for loan amounts over $200,000 from any individual with 20 percent or more ownership. Real estate collateral will not be required for any loans of $500,000 or less.
As a reminder, SBA announced last month that we are extending the first payment due date for all loans until 2022. For COVID-19 EIDL loans made in calendar year 2020, the first payment due date is extended until 24 months from the date of the note, and for loans made in calendar year 2021 the first payment due date is extended until 18 months from the date of the note. Loan interest continues to accrue during the deferment period, and a loan increase will not further extend your first payment due date.
Follow these instructions if you wish to request a loan increase:
Send email to CovidEIDLIncreaseRequests@sba.gov
Use subject line "EIDL Increase Request for [insert your 10-digit application number]"
Be sure to include in the body of your email identifying information for your current loan including application number, loan number, business name, business address, business owner name(s), and phone number.
Important: Do not include any financial documents or tax records with your initial request. You will receive a follow up email notification if we need additional documents.
We will process increase requests in the order they are received. Due to the expected high volume of incoming requests, it may be several weeks before you receive a response from SBA on next steps to follow. Please do not resend multiple requests if you do not hear back right away as the extra emails could slow down the overall response time.
If you have any questions regarding the COVID-19 EIDL program, or SBA's other COVID relief program, please visit our website at SBA.gov/relief for the most current updates.
We look forward to assisting with your recovery from this pandemic.
1
Posted on 7/12/21 at 11:21 am to VABuckeye
It seems we never applied for the loan. We did the "10K" help. Not sure if it's the same?
So we are going to apply at this point.
So we are going to apply at this point.
Posted on 7/12/21 at 2:11 pm to VABuckeye
You deserve a permanent sticky!
Posted on 7/15/21 at 7:42 am to VABuckeye
I got a letter via email from the SBA saying I had “unverifiable information “ pertaining to the loan modification. Anyone had this experience yet?
Posted on 7/16/21 at 12:21 am to Honest Tune
Bump…. This shite is frustrating… I’ve been in the loan modification process is being verified stage for over a month!
Posted on 7/16/21 at 12:51 am to HoLeInOnEr05
Yeah, it is. We got a response. They stated we had already applied and they would be working off of that.
We applied for the 10K this time last year. So evidently they have been process this one for a year?
quote:
Multiple SBA Economic Injury Disaster Loan Applications
We have received multiple applications from your business for economic injury as a result of Coronavirus (COVID-19). Your earliest application will continue to be processed and we have withdrawn application number xxxxxxxxxxxx from active consideration.
We applied for the 10K this time last year. So evidently they have been process this one for a year?
Posted on 7/16/21 at 8:46 pm to VABuckeye
This is now the email I got:
The address reads "access Denied" on every attempt to go to the page.
Access Denied
You don't have permission to access "LINK ; on this server.
quote:
Dear SBA Borrower:
We received your request to increase your COVID-19 Economic Injury Disaster Loan (EIDL). To continue processing your request, please complete the following steps:
Log into your SBA loan portal account at: LINK /
After you log into your account, click on the button that reads "Request More Funds"
The "Request More Funds" button will only be visible if your current loan amount is not already at the maximum loan limit
The address reads "access Denied" on every attempt to go to the page.
Access Denied
You don't have permission to access "LINK ; on this server.
Posted on 7/17/21 at 7:58 am to HoLeInOnEr05
quote:
I’ve been in the loan modification process is being verified stage for over a month!
Then you likely have a long wait still ahead of you. We applied in early April, and they are still waiting on our tax docs from the IRS to assign us a loan officer.
Posted on 7/21/21 at 5:14 pm to HoLeInOnEr05
I got a call today from the SBA, it caught me off guard, because I thought it was Geico calling me back.
A Sassy Caribbean lady with an attitude wanting to ask me questions about my business. She asked me the nature of my business, and once I told her, she had an I gotcha type attitude, saying well why is there’s no income or loss for your business? I said I don’t know, my returns are 150 pages long and prepared by an accountant. Can you tell me what page you are looking at? And she wouldn’t, eventually I told her I sensing some kind of attitude, did I do something wrong or my accountant do something wrong?
She said no that’s not the case, and we figured out that the returns she had were business returns, and what she needed was was under my personal returns. Isn’t standard if you have a single owner LLC that you file that under personal returns? She said OK let me call you back tomorrow and see what I can do. So hopefully I don’t have to wait another four months for them to receive my personal returns.
A Sassy Caribbean lady with an attitude wanting to ask me questions about my business. She asked me the nature of my business, and once I told her, she had an I gotcha type attitude, saying well why is there’s no income or loss for your business? I said I don’t know, my returns are 150 pages long and prepared by an accountant. Can you tell me what page you are looking at? And she wouldn’t, eventually I told her I sensing some kind of attitude, did I do something wrong or my accountant do something wrong?
She said no that’s not the case, and we figured out that the returns she had were business returns, and what she needed was was under my personal returns. Isn’t standard if you have a single owner LLC that you file that under personal returns? She said OK let me call you back tomorrow and see what I can do. So hopefully I don’t have to wait another four months for them to receive my personal returns.
This post was edited on 7/21/21 at 5:36 pm
Posted on 7/21/21 at 7:37 pm to Rust Cohle
quote:
I got a letter via email from the SBA saying I had “unverifiable information “ pertaining to the loan modification. Anyone had this experience yet?
Yep. Saw this email Saturday morning. Now Thursday and still haven’t gotten an answer or explanation.
Posted on 7/22/21 at 8:02 am to Im4datigers
After all this wait, I got a decline letter 
Posted on 7/23/21 at 8:08 am to Nephropidae
After about 3 months, mine is still "being processes" 
Our government is useless.
Our government is useless.
Posted on 7/25/21 at 7:14 am to Nephropidae
Got declined due to discrepancies on taxes and app. Says if I disagree with their decision I can request reconsideration. I’m pretty sure I didn’t provide any new info on the increase, but on the initial which was 18 months ago. Maybe the projected income was off. So yea their might be a discrepancy, but that’s when you clarify and reassess, not just deny.
I found R/EIDL. A lot of people on there are going to the same problems.
I found R/EIDL. A lot of people on there are going to the same problems.
This post was edited on 7/25/21 at 7:53 am
Posted on 7/26/21 at 6:32 pm to Rust Cohle
quote:yep... I've been reading about the "discrepancies" issue. It burns me a bit that small businesses like mine and others did they best they could on the application with little guidance. I suspect mine was due to REV/COGS not matching 2019 returns, which hadn't been finalized, yet. Trying not to be bitter about the roll-out... time to forget about it and push forward. That money is gone for us in the "reconsider" line.
I found R/EIDL. A lot of people on there are going to the same problems.
Posted on 7/27/21 at 10:05 am to Nephropidae
We never heard from anyone, but got an email today with an approval of our modification request. We applied for modification back in early April.
Posted on 7/27/21 at 10:47 am to Nephropidae
At least you got told one way or the other.
We were told they would go off the first application that we placed 18 months ago.... that we never heard from at all.
We were told they would go off the first application that we placed 18 months ago.... that we never heard from at all.
Posted on 7/29/21 at 9:41 am to Jjdoc
Got a decline letter via email this morning.
Reason given: "Corporation/TaxID could not be verified"
I got a grant via EIDL last year ($1600), got both rounds of PPP (under $50K both times), yet they "couldn't verify" my taxID. Your government at work, people.
Reason given: "Corporation/TaxID could not be verified"
I got a grant via EIDL last year ($1600), got both rounds of PPP (under $50K both times), yet they "couldn't verify" my taxID. Your government at work, people.
Posted on 8/3/21 at 7:40 am to shawnlsu
One of my companies received a decline letter due to “Unverifiable Information” and the other was approved for the increase. I emailed them yesterday asked if they could let me know what was unverifiable so I could assist with verifying. Hopefully I hear back. Odd how they don’t include any additional information in the decline letter.
Posted on 8/4/21 at 9:23 am to ithad2bme
We finally funded today, nobody ever contacted us, we just received the email saying our approval docs were ready, and we funded about a week after signing the new docs.
We had been holding off on launching a new product and hiring the developers we needed to wrap it up until we got this funding. We are extending job offers to several folks as a result of getting funded finally.
Good luck to you guys who are still waiting.
We had been holding off on launching a new product and hiring the developers we needed to wrap it up until we got this funding. We are extending job offers to several folks as a result of getting funded finally.
Good luck to you guys who are still waiting.
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