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

re: EIDL Increase Email
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.


greygoose
Auburn Fan
Member since Aug 2013
5528 posts

re: EIDL Increase Email
Another day, another "your modification is being processed".


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

re: EIDL Increase Email
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.


Joehat
LSU Fan
New Orleans West
Member since Jun 2011
727 posts

re: EIDL Increase Email
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 at 2:54 pm


greygoose
Auburn Fan
Member since Aug 2013
5528 posts

re: EIDL Increase Email
quote:

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.

Weird. My 2019 return was the first thing they asked for with the modification application.


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

re: EIDL Increase Email
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.


shawnlsu
LSU Fan
Member since Nov 2011
20871 posts

re: EIDL Increase Email
Mine is going on a month of "being processed".
We had 2019 and 2020 taxes done already and turned them in.
This post was edited on 5/24 at 9:15 am


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

re: EIDL Increase Email
It's apparent at this point that, like the IRS, SBA was not prepared for the number of requests for loan modifications.


greygoose
Auburn Fan
Member since Aug 2013
5528 posts

re: EIDL Increase Email
quote:

It's apparent at this point that, like the IRS, SBA was not prepared for the number of requests for loan modifications.

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.


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greygoose
Auburn Fan
Member since Aug 2013
5528 posts

re: EIDL Increase Email
quote:

Mine is going on a month of "being processed".
We had 2019 and 2020 taxes done already and turned them in.
I applied on 4/6!


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

re: EIDL Increase Email
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.


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

re: EIDL Increase Email
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.


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

re: EIDL Increase Email
SBA pulled my credit today. Fingers crossed.


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

re: EIDL Increase Email
SBA loan officer called me. I have to put together a couple of documents and then I get an amount.


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

re: EIDL Increase Email
What kind of documents? Anything we should be pulling together to have handy?


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

re: EIDL Increase Email
Recent declarations page of business insurance. A board resolution requesting the loan. Copies of front and back of ID.


greygoose
Auburn Fan
Member since Aug 2013
5528 posts

re: EIDL Increase Email
quote:

SBA pulled my credit today. Fingers crossed.
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.


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

re: EIDL Increase Email
Has your loan officer contacted you?


wasteland
USA Fan
Member since Apr 2011
4408 posts

re: EIDL Increase Email
Mine left a message yesterday about needing some documents. I’ll call back today


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

re: EIDL Increase Email
Get the documents I noted together so you're ready to immediately produce them. Best of luck.


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