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Message
re: EIDL News..anyone receive any response?
Posted on 4/20/20 at 4:57 pm to Rust Cohle
Posted on 4/20/20 at 4:57 pm to Rust Cohle
quote:
on 4-14 I received an email to "Create your SBA Economic Injury Disaster Loan Portal Account" I answered a few questions to confirm my identity, answered how much I wanted from how much I was eligible for, and the third button was to sign papers, but wouldn't let me proceed, and now has a processing status.
I received an email yesterday to docusign, and I did. I did not see much information in the loan documents how disbursements are handled, just that they are at the discretion of the SBA. Not much detail on what it can’t be used for, but if it’s used incorrectly penalties are one and a half times the loan. They did have detail about books and records needing to be kept and presented if and when needed. I think there is a sentence about receipts being possibly needed before disbursements, so maybe we will have to work more closely with a real person to get disbursements. On another forum a user said that he had his loan deposited into his checking account five days after docusign.
1
Posted on 4/22/20 at 7:59 am to cmlsu
FYI...I just received $1,000 from SBAD Treasury. Credit was pulled on 4/20. No EIDL loan yet. 0 employees on my application.
This post was edited on 4/22/20 at 8:07 am
Posted on 4/22/20 at 9:50 am to Rust Cohle
quote:
on 4-14 I received an email to "Create your SBA Economic Injury Disaster Loan Portal Account" I answered a few questions to confirm my identity, answered how much I wanted from how much I was eligible for, and the third button was to sign papers, but wouldn't let me proceed, and now has a processing status.
I received an email on the 19th to docusign, and I did. I did not see much information in the loan documents how disbursements are handled, just that they are at the discretion of the SBA. Not much detail on what it can’t be used for, but if it’s used incorrectly penalties are one and a half times the loan. They did have detail about books and records needing to be kept and presented if and when needed. I think there is a sentence about receipts being possibly needed before disbursements, so maybe we will have to work more closely with a real person to get disbursements. On another forum a user said that he had his loan deposited into his checking account five days after docusign.
Funds deposited this morning four days after docusign, no human contact
Posted on 4/22/20 at 9:53 am to Rust Cohle
quote:
Funds deposited this morning four days after docusign, no human contact
for the EIDL? I didnt have to docusign anything for the EIDL and got the funds deposited yesterday with no warning....and the description was EIDG, not EIDL. It was for less than $10k
I did docusign some documents for the PPP and that was also funded yesterday as well
Posted on 4/22/20 at 9:56 am to tgrbaitn08
He isn't talking about the advance.
He got his entire EIDL loan funded.
He got his entire EIDL loan funded.
Posted on 4/22/20 at 10:01 am to shawnlsu
quote:
He isn't talking about the advance.
He got his entire EIDL loan funded.
Ok gotcha..question is....after the advance did you have to do anything? I never asked for a certain EIDL amount...I assume they will get in touch with me to discuss the amount?
Posted on 4/22/20 at 10:16 am to tgrbaitn08
quote:G stands for Grant, and right now it is 1000 per employee, or owner. I did not apply for the PPP because I don’t have any employees. A lot of posters in the other thread that did the PPP, but I believe that loan supersedes the EIDL and you have to do through a bank.
and the description was EIDG, not EIDL. It was for less than $10k
I received the advance for the grant on the 14th, the same day I got the email to create the SBA account. I don’t think they coincide for most people though.
Once I made my account, I answered five questions to confirm identity, and one question to answer how much I wanted from how much I was eligible for.
This post was edited on 4/22/20 at 10:22 am
Posted on 4/22/20 at 10:33 am to Rust Cohle
quote:
G stands for Grant, and right now it is 1000 per employee, or owner. I did not apply for the PPP because I don’t have any employees. A lot of posters in the other thread that did the PPP, but I believe that loan supersedes the EIDL and you have to do through a bank.
Yeah that’s what I got $1k per employee
I already received my PPP funds. My PPP process is closed for now, unless we have to do this again in 8 weeks.
I’m just wondering if there is anything else I need to for the EIDL. I guess I’ll just wait on the email
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