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Started By
Message
re: EIDL Increase Email
Posted on 5/13/21 at 10:08 am to greygoose
Posted on 5/13/21 at 10:08 am to greygoose
You and I are at the same stage. I submitted the 4506-T for the business (which was not required for the original loan) a little over two weeks ago. We're now in a holding pattern waiting for the email to login to our account for our new loan amount.
1
Posted on 5/13/21 at 10:24 am to VABuckeye
quote:When I logged in just now, I finally saw what some of y'all were referring to. The slider for the loan amount, etc. All this time, I thought everything was being processed since I was getting an email occasionally, asking for something. According to the site, nothing was done. It now says "your loan modification is now being processed"!
You and I are at the same stage. I submitted the 4506-T for the business (which was not required for the original loan) a little over two weeks ago. We're now in a holding pattern waiting for the email to login to our account for our new loan amount.
I did talk to someone last week from the SBA who called asking for my business insurance policy. This was unrelated to this, but I took the opportunity to ask about the the new loan. She said she didn't have access to any of that, but could see that they had requested my tax transcripts. I have no idea what's going on at this point.
Did you ask for the max amount?
Posted on 5/13/21 at 10:38 am to greygoose
I will ask for the max amount but I haven't got to that stage. Right now the page just shows the original funded amount.
ETA: We provided the endorsement to our insurance policy last year.
ETA: We provided the endorsement to our insurance policy last year.
This post was edited on 5/13/21 at 10:39 am
Posted on 5/13/21 at 10:44 am to VABuckeye
I have two companies. One I asked for the max amount and the other I just increased about $100K. Both have been at loan modification for about 3 weeks now.
Didn't realize Yellowfin was referring to the advance.
Didn't realize Yellowfin was referring to the advance.
Posted on 5/13/21 at 10:53 am to VABuckeye
quote:I did too, but apparently the SBA servers rejected my email. 6 months later and they called saying they need it immediately. All done now, but I wonder if that was what was holding me up.
I will ask for the max amount but I haven't got to that stage. Right now the page just shows the original funded amount.
ETA: We provided the endorsement to our insurance policy last year.
Posted on 5/14/21 at 10:39 am to greygoose
Well, 3 weeks of being at "your loan modification is being processed" with all steps completed, and no additional news.
Posted on 5/14/21 at 11:51 am to ithad2bme
quote:Have you tried to call them? I'm tempted to, just to see what they say about the hold up.
Well, 3 weeks of being at "your loan modification is being processed" with all steps completed, and no additional news.
Posted on 5/14/21 at 12:27 pm to greygoose
I figured if I start hearing about others getting processed I will call, but as of now everyone I know and it appears all on this forum are still at the same stage.
Posted on 5/14/21 at 1:15 pm to ithad2bme
SBA and the IRS appear to be a clusterfrick with their processes right now. Both are bogged down.
Posted on 5/14/21 at 2:00 pm to VABuckeye
quote:Normally, the IRS being bogged down is a good thing!
SBA and the IRS appear to be a clusterfrick with their processes right now. Both are bogged down.
Posted on 5/14/21 at 2:27 pm to greygoose
I agree but they owe me a LOT of money. Business operated at a loss last year (paper loss fortunately) so I was able to write all of the business loss off of my personal income.
Posted on 5/14/21 at 2:29 pm to greygoose
We called yesterday and spoke to a rep/agent, or whatever they are called. He confirmed that we were approved, and verified our bank account information while on the phone. He couldn't offer anything by way of a timeline for funding, but he confirmed that our paperwork was in order, and we were approved. I know its not the news we were looking for, but sounds like its a go once they get around to releasing money.
Posted on 5/14/21 at 2:52 pm to brichard
If I don't hear anything early in the week I'm going to call. Monday will be three weeks since we submitted the business 4506-T.
Posted on 5/14/21 at 3:02 pm to brichard
quote:Does the portal say you were approved when you called, or did it still say "Your loan modification is being processed"?
We called yesterday and spoke to a rep/agent, or whatever they are called. He confirmed that we were approved, and verified our bank account information while on the phone. He couldn't offer anything by way of a timeline for funding, but he confirmed that our paperwork was in order, and we were approved. I know its not the news we were looking for, but sounds like its a go once they get around to releasing money.
Posted on 5/14/21 at 3:04 pm to VABuckeye
quote:Me too. They asked me for it twice. I applied for the modification on 4/6. Then they asked me for my 2019 return. Couple of weeks later, I get a request for the 4506.
If I don't hear anything early in the week I'm going to call. Monday will be three weeks since we submitted the business 4506-T.
Posted on 5/14/21 at 3:16 pm to greygoose
quote:
"Your loan modification is being processed"?
I'm not even getting this message which is what is really pissing me off.
Posted on 5/14/21 at 4:42 pm to greygoose
Portal still says it’s being processed. The rep we spoke to used the word “approved”.
Posted on 5/14/21 at 7:15 pm to brichard
quote:Well Hell! Maybe I'll get the same answer as you! That makes me feel better.
Portal still says it’s being processed. The rep we spoke to used the word “approved”.
Posted on 5/14/21 at 7:26 pm to greygoose
Wouldn’t be surprised if the portal is lagging behind or something with the demand on the system. Like you all, we are ready to see some movement towards the funding.
Posted on 5/16/21 at 8:52 am to Rust Cohle
Have you been funded yet- we have been processing for 3 weeks- says amount confirmed - loan processing...
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