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Started By
Message
re: EIDL Increase Email
Posted on 5/20/21 at 9:42 am to Nephropidae
Posted on 5/20/21 at 9:42 am to Nephropidae
quote:
VA - did you file your 2020 taxes?
I asked about this when I called and found out they still haven't requested my tax information. They said the years are noted on your 4506-T form, for mine they will request 2018 and 2019.
1
Posted on 5/21/21 at 9:03 am to ithad2bme
Another day, another "your modification is being processed".
Posted on 5/21/21 at 10:22 am to greygoose
It's frustrating, has anyone else called to see if the SBA has requested their tax records yet?
If they haven't requested it yet, you have at least 3 weeks, likely longer before you will see funding in case you are making decisions on hiring or firing based on getting this money.
If they haven't requested it yet, you have at least 3 weeks, likely longer before you will see funding in case you are making decisions on hiring or firing based on getting this money.
Posted on 5/23/21 at 2:53 pm to ithad2bme
The SBA is denying people left and right for the increase based on application errors. So if you put an estimated revenue in your application because you didnt have access to your tax records for 2019 (or hadn’t filed), they are denying you for unverifiable revenue on your application. Be ready because they are denying people regularly. It’s insane.
This post was edited on 5/23/21 at 2:54 pm
Posted on 5/23/21 at 8:36 pm to Joehat
quote:Weird. My 2019 return was the first thing they asked for with the modification application.
The SBA is denying people left and right for the increase based on application errors. So if you put an estimated revenue in your application because you didnt have access to your tax records for 2019 (or hadn’t filed), they are denying you for unverifiable revenue on your application. Be ready because they are denying people regularly. It’s insane.
Posted on 5/24/21 at 7:42 am to Joehat
Like the PPP loans I'm sure there was a lot of fraud the first time around and the SBA is crossing T's and dotting i's this time around. If you're legit in your application I think the only thing this results in is the delay that we are seeing.
Posted on 5/24/21 at 8:51 am to VABuckeye
Mine is going on a month of "being processed".
We had 2019 and 2020 taxes done already and turned them in.
We had 2019 and 2020 taxes done already and turned them in.
This post was edited on 5/24/21 at 9:15 am
Posted on 5/24/21 at 9:17 am to shawnlsu
It's apparent at this point that, like the IRS, SBA was not prepared for the number of requests for loan modifications.
Posted on 5/24/21 at 9:39 am to VABuckeye
quote:LOL! You don't say?? Everywhere I go, Now Hiring signs are hung up. Some business can't take on new customers because they don't have the staff to handle them. Government created a problem, and are now slow rolling the help for the problem they created.
It's apparent at this point that, like the IRS, SBA was not prepared for the number of requests for loan modifications.
Posted on 5/24/21 at 9:40 am to shawnlsu
quote:I applied on 4/6!
Mine is going on a month of "being processed".
We had 2019 and 2020 taxes done already and turned them in.
Posted on 5/24/21 at 12:02 pm to greygoose
My wife applied earlier than I thought, on 4/7. I talked to them today and was told we still hadn't been assigned a loan officer.
Posted on 5/24/21 at 12:17 pm to ithad2bme
Damn. We got an email saying we'd been assigned to a loan officer last week but it could be several weeks before we are contacted.
Posted on 5/25/21 at 12:56 pm to VABuckeye
SBA pulled my credit today. Fingers crossed.
Posted on 5/25/21 at 1:58 pm to VABuckeye
SBA loan officer called me. I have to put together a couple of documents and then I get an amount.
Posted on 5/25/21 at 7:52 pm to VABuckeye
What kind of documents? Anything we should be pulling together to have handy?
Posted on 5/25/21 at 8:34 pm to ithad2bme
Recent declarations page of business insurance. A board resolution requesting the loan. Copies of front and back of ID.
Posted on 5/26/21 at 7:01 am to VABuckeye
quote:They pulled mine a month ago. I thought that was a good sign and something was about to happen, but here I sit, still in processing.
SBA pulled my credit today. Fingers crossed.
Posted on 5/26/21 at 7:12 am to greygoose
Has your loan officer contacted you?
Posted on 5/26/21 at 7:26 am to VABuckeye
Mine left a message yesterday about needing some documents. I’ll call back today
Posted on 5/26/21 at 8:50 am to wasteland
Get the documents I noted together so you're ready to immediately produce them. Best of luck. 
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