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VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
29569 posts

re: EIDL Increase Email
quote:

Declined letter, not in low income area


That's for the grant, no? The new grant language says you must be in a low income area. The EIDL loan increase has no such language.


greygoose
Auburn Fan
Member since Aug 2013
5528 posts

re: EIDL Increase Email
quote:

That's for the grant, no? The new grant language says you must be in a low income area. The EIDL loan increase has no such language.
Correct. Even my accountant wasn't up to date on this. Thought you had to be in a low income area.


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Rust Cohle
Baton rouge
Member since Mar 2014
1478 posts

re: EIDL Increase Email
I received an invitation to log into my account last week. My max offer was the same as I received last year, so the loan doubled. The only question they asked was " what form I used for 2019 taxes", and signed modification page. It looked like instant approval, the account is not funded yet.


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
29569 posts

re: EIDL Increase Email
What's your gross revenue like for 2019? Thanks.


LSUlove
LSU Fan
Louisiana
Member since Oct 2003
280 posts

re: EIDL Increase Email
I was declined for grant as well. Not in low income area. Still waiting on funding for EIDL.


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10
Rust Cohle
Baton rouge
Member since Mar 2014
1478 posts

re: EIDL Increase Email
I projected 130k, and that’s max what they offered both times.


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
29569 posts

re: EIDL Increase Email
Thanks.


shawnlsu
LSU Fan
Member since Nov 2011
20871 posts

re: EIDL Increase Email
Looks like our EIDL is processing, it is very small though. We were told we could request a bigger increase based on our financials once a SBA loan officer called us. Evidently, is all automated up to that point.


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
29569 posts

re: EIDL Increase Email
Seems odd as I'm pretty sure you did more than the $130k gross revenue done by the other poster. We're aren't huge but we still are decently sized so I hope our offer is towards the higher end of the scale.


drenko50
LSU Fan
Lafayette, LA
Member since Feb 2009
1482 posts

re: EIDL Increase Email
I saw SBA credit inquiry pulled last week. Hopefully that means will hear something this week?


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10
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shawnlsu
LSU Fan
Member since Nov 2011
20871 posts

re: EIDL Increase Email
Yeah, I don't understand it either. The SBA rep on the phone was pleasantly informative and nice. She said the only option for us was to request more when the loan officer contacts us, which isn't out of the ordinary per her.
Guess we will see.


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Nephropidae
LSU Fan
Brentwood
Member since Nov 2018
1540 posts

re: EIDL Increase Email
business owners here: any luck on progress for EIDL increases? I'm stuck at confirmed amount but no docs to be signed.


LSUlove
LSU Fan
Louisiana
Member since Oct 2003
280 posts

re: EIDL Increase Email
Any funding yet? I have Loan Modification being processed for a week now.


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
29569 posts

re: EIDL Increase Email
You're ahead of me. We haven't seen anything on the increase yet but we had to supply a 4506-T again on April 26th. When we reply we seem to hear back from them 2 weeks later so I'm hoping to see something next week.


LSUlove
LSU Fan
Louisiana
Member since Oct 2003
280 posts

re: EIDL Increase Email
You have viewed and signed all of the docs at the bottom on the page and clicked on the Submit for increased amount button (something to that nature)?


Honest Tune
LSU Fan
Bucktown, La
Member since Dec 2011
8892 posts

re: EIDL Increase Email
quote:

business owners here: any luck on progress for EIDL increases? I'm stuck at confirmed amount but no docs to be signed.


Same. I’ve been waiting for two weeks now.


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00
VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
29569 posts

re: EIDL Increase Email
I'm not to that stage yet. The money isn't critical right now but it sure helps me budget out the rest of 2021.


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ithad2bme
LSU Fan
Houston transplant from B.R.
Member since Sep 2008
3100 posts

re: EIDL Increase Email
quote:

You have viewed and signed all of the docs at the bottom on the page and clicked on the Submit for increased amount button (something to that nature)?


We have been at this stage for about 2 weeks now with the amount confirmed and a message saying your loan modification is being processed.


yellowfin
Chicago Cubs Fan
Coastal Bar
Member since May 2006
95544 posts
 Online 

re: EIDL Increase Email
I just got an email saying I’ve been approved and it would be deposited into my account. Original email was 4/8 and I applied a few days later

ETA: money deposited last night
This post was edited on 5/7 at 8:02 am


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30
brichard
LSU Fan
Baton Rouge
Member since Sep 2010
953 posts

re: EIDL Increase Email
Stuck on processing for a couple weeks like others in here. Has anyone else seen funding, or another step towards it?


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