For loans less than $300,000, funding will take place after the loan decision. , [–]Majalos 1 point2 points3 points 9 months ago (1 child). After I received the approval email (12/27) i signed the loan docs on (12/28). r/EIDL: Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. 22 votes, 73 comments. I also turned on my alerts for my bank deposits. [–]Wide_Ride -1 points0 points1 point 9 months ago (3 children). And planting is already in progress throughout the entire country. [–]the_timezone_bot 0 points1 point2 points 9 months ago (2 children). COVID-19 Economic Injury Disaster Loans about careers press advertise blog … 12.4k. 04/26 SBA credit check (Experian). this statement is directly from SBA FAQ's Dated January 29th 2021. Hope this helps. I was shocked as hell. Received confirmation same day. Anyway..............!!!!! Funding timeline? I have a question. AG has a huge lobby. and join one of thousands of communities. I accepted offer in July. [–]Good-Gate 4 points5 points6 points 9 months ago (1 child). Porsche & BMW Specialists in Sacramento, CA. save. I'm a bot, if you want to send feedback, please comment below or send a PM. Eidl timeline reddit Eidl timeline reddit Thanks for that, I applied in August for Recon, its been pending now for awhile. [–]Scorpio14534 1 point2 points3 points 9 months ago (0 children), This is phenomenal news! It's motivated by our need to eat. Once you accepted an offer, how long it took for you to sign loan docs? Approved. 06/06/2020 2:24 pm ct SBA attempts to pull credit. Eidl update reddit Eidl update reddit Is this normal? Yes it’s normal. This kind of loan is the only type of loan that EIDL loans can be used to pay off. [–]chiller619[S] 0 points1 point2 points 8 months ago (0 children). Close. Waiting is killing me! Email for portal received 5/25 at 9:05 pm ct Question: Is a lender permitted to submit a PPP loan application to SBA through E-Tran before the lender has fulfilled its responsibility to review the required borrower documentation and calculation of payroll costs? Other farmers we know have seen the same thing and they just applied in the last two weeks. The COVID-19 pandemic has been an unprecedented economic disaster affecting many industries, small businesses, and workers. I own a consulting company and would love to leverage the network I've built along the way, to help other Biz owners access funding. [–]the_timezone_bot 0 points1 point2 points 9 months ago (1 child), You can find the live countdown here: https://countle.com/rnXOQVsqG, [–]SaulRosenberg2000 0 points1 point2 points 9 months ago (0 children), [–]Wide_Ride 0 points1 point2 points 9 months ago (0 children), [–]Jup476 0 points1 point2 points 9 months ago (1 child). The Economic Injury Disaster Loan and Loan Advance (EIDL) program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to the COVID-19 public health crisis. See the Electoral College timeline of events for the 2020 election. Where did first come first served? Timeline for approval: ... then another 5 days to get funding, so approximately one month to get funds. Yet many of those who have received their approval notification are confused about how they can use funds from their EIDL loans. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. I'm currently emailing with the SBA to figure out what we are going to do. [–]chiller619[S] 0 points1 point2 points 9 months ago (0 children). Posted by 7 months ago. I’m waiting since 3/27 for mine and just got a portal and accepted the loan last week, now I’m approved but stick with no documents. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 2722 on r2-app-0770cf51e103dc757 at 2021-02-23 14:25:14.151298+00:00 running 81a1eda country code: CZ. In the beginning we had to submit documents to the recon email, now they’re requesting some ppl to upload documents on the portal others are still getting requests to send the documents via email. I created a Caweb account but it's confusing. Did the SBA accept your hazard insurance document? This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. 4. Who is eligible for COVID -19 EIDL? The credit file is locked. [–]Wide_Ride 0 points1 point2 points 9 months ago (3 children). New comments cannot be posted and votes cannot be cast. report. its listed as your loan modification is being processed and also the amount that is confirmed. I didn’t see the email until after midnight or i would’ve been able to sign on 12/27. Archived. Hello! This article is about EIDL loans. I am hoping to get the approval soon. The U.S. Small Business Administration at the end of September quietly began allowing those who've already applied for economic injury disaster loans (EIDL) to apply for more funding. Now i can make sure my business is good to go. 1-2 days is the norm. An update: there has been no movement on my SBA loan. He is a beef cattle farmer in NC. Credit score is still below the minimum as most of my stuff hasn't updated yet. EIDL loans, along with the PPP, are the biggest lifelines around for many small businesses. EIDL Targeted Advance - Bank Account verification issue? Small businesses, small agricultural cooperatives and most private nonprofit organizations located in a declared disaster area and which have suffered substantial economic injury may be eligible for an SBA Economic Injury Disaster Loan (EIDL). I read information in this forum for guidance. I have not received the grant either. Congrats on your funding. I didn’t have to accept the offer amount a second time. The loan may be forgiven, but the forgiveness amount is calculated according to a complex formula. Are you for real?? And past the prime planting dates in some areas. Precisely. Created Apr 20, 2020. Eidl Funding. For loans above $300,000, more financial information will be required. (no docs to sign yet). I understand it’s discouraging, but if you’re business is legit your funding will come. I called and sent emails to check my status. There have been so many glitches and accounts that have gotten stuck. hide. 05/24 Email link to create portal account. © 2021 reddit inc. All rights reserved. - 6/22: Submitted Application-6/24: Portal Invite "Disaster Loan Ready For Next Step" Verified identity, confirmed loan amount 12/28 - Signed Closing Documents & Created Caweb account, 12/29 - Active Disbursed Current (full loan amount still there when i clicked for loan information), 1/4 - Funds in bank (KeyBank) Maybe a minor delay b/c of Holiday. Also Applied for recon on early July. Still haven’t received the grant email/got an email about the bank that’s servicing my loan. 9:05 pm CT happens when this comment is 14 hours and 9 minutes old. I signed loan docs last night for eidl.. anyone knows when they will disburse the whole amount or in increments ?? As i mentioned before, I had pretty much been in recon since July. You can find the live countdown here: https://countle.com/RFVFCHK_P. use the following search parameters to narrow your results: Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. Since then SBA has been under fire by Congress from digressing. Congratulations on your funding👏🏻🎉 I know your journey has been long and frustrating!! The two parts to the EIDL, the advance and the loan, and their implementation. loan proceeds must be used only for eligible payroll costs and certain eligible nonpayroll costs as set forth in program guidance . Congrats! DEF] Êîíôèãóðàöèÿ ïåðåäíåé Eidl timeline reddit -+ Add to cart. 4506T and all of my tax documents several times. So in total, expect it take about a month after you apply to get funding. Here is my timeline: 04/02 Applied for EIDL short form. This article will be updated as more information is made available. eidl reddit, Of the $60 billion directed to the SBA’s EIDL program, $10 billion will be used specifically for Economic Injury Disaster Loan grants – those $10,000 advances for small businesses. Your ability to to apply was delayed for so long, and I’m thrilled to hear that the process is working efficiently and quickly for you. Updated February 16, 2021. Eidl Funding. I MAY have a screenshot of the application with a date. And funding is critical if you like eating. Payment is expected to be within 35 days and this is the main reason why the emergency grant is being offered to small businesses due to the length of time of EIDL funding. Rendered by PID 2722 on r2-app-0770cf51e103dc757 at 2021-02-23 14:25:14.151298+00:00 running 81a1eda country code: CZ. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. Agriculture loan timeline General Applied 5/20 33042xxxxx Email for portal received 5/25 at 9:05 pm ct Accepted immediately. Retain receipts and contracts for all loan funds spent for 3 years. Hoping mine comes soon! It's sucky from the time standpoint, that things aren't moving faster for the rest of us... but food is a necessity to sustain (mostly) all life (yes, being able to pay our rent and phone bills matters... but... ya know... food...) - and the AG industry provides that for us, so it makes sense that they would be pushed up, particularly when they were barred from applying at the time the rest of us were allowed to. Where do I look for the funding info once I'm logged in? I got that email at 9:00 p.m. last night and I haven't been to bed yet. The Cares Act provided for $10,000 (exactly) to be paid to each bsuiness who applied during a window that certified an impact because of COVID-19. Most of these were made to wait until the last moment to apply. Porsche & BMW Specialists in Sacramento, CA. I have been waiting for a month now since I received an offer. I have similar timelines except that my original portal and offer came on 4/13 since then stayed in declined state. I just turned all my alerts on for my credit profile. [–]chiller619[S] 1 point2 points3 points 9 months ago (0 children), [–]rmj2009 0 points1 point2 points 9 months ago (0 children). I'll get a screenshot up later. Because my farmer buddy got his so fast and I saw his closing docs I know something is wrong with mine. Yes it has thanks. I had sent documents multiple times via email and even uploaded them to the portal. I haven't seen my credit pulled yet. Once you’re logged in click on the loan number. I also sent all required documentation to them. EIDL aid can be rolled into a PPP loan — businesses can qualify for both so long as they are not used for the same thing, and they must be used for approved expenses to be forgiven. Long form 3/20 short 3/30 Waiting on funding. Ag got moved up and is being processed priority. Applied 5/20 33042xxxxx Press J to jump to the feed. What the hell???? I have my experian alerts turned on as well as alerts from my capital one and Chase account. Wowza that was quick...applied long form 3/27 and short form early April, sill waiting...Just got credit pulled a couple of days ago. Top posts june 1st 2020 Top posts of june, 2020 Top posts 2020. help Reddit App Reddit coins Reddit premium Reddit gifts. PPP loans can be up to $10 million, EIDL loans are reportedly capped due to demand at $150,000 or less, according to several reports. Yes, it's political. 5/8 processing at 10:30a then approved in 4 hours loan docs signed 2:30 pm. I had sent documents multiple times via … This thread is archived. So does this mean I will get the remaining $9,000 for the advance? EIDL status changed to … The loan may be forgiven if all employee retention criteria are met and funds were used for eligible expenses. Total time from application to closing 5 days, this is just for Ag though. Otherwise there will be massive crop losses and food shortages going into the fall and winter months. It is critical they meet those windows. As i mentioned before, I had pretty much been in recon since July. These funds will be exhausted quickly, as there is a backlog of applications in process. 05/24 Agree to $34,500 / 30 yr / 3.75% / 1st payment 1 yr. 05/24 Corrected bank acct name. 33% Upvoted. … Best of luck to you and thank God for our farmers!! Disaster Loan Funding Timeline: Final Thoughts. Accepted immediately. I've included my timeline, insane journey, and contact information. Small businesses can access a $10,000 loan … I went into recon until December. Agriculture loan timelineGeneral (self.EIDL). 06/06/2020 2:24 pm ct … Press question mark to learn the rest of the keyboard shortcuts. This is true I had a friend who applied one day got the advance in 2 days portal the next day with offer accepted that day, was approved and funded the next day. Thanks. I recieved a call 2 days after my initial application. 0. Picture of emails indicating timeline: Applied for EIDL on 3/18. Is this politically motivated? I would definitely be on the phone. 12/29 - Active Disbursed Current (full loan amount still there when i clicked for loan information) 12/31 - Active Disbursed Current ($0) 1/4 - Funds in bank (KeyBank) Maybe a minor delay b/c of Holiday. 05/24 "Your application is being processed". share. Does anyone have the Tier 2 SBA reps toll free number? Answer: No. Kudos to you. To all those waiting, Don’t give up and don’t lose hope. THE SWISS AVENUE HISTORIC DISTRICT OF DALLAS, TEXAS IS A “LOW INCOME COMMUNITY” ACCORDING TO THE SBA (57 ACRES OF MULTI MILLION DOLLAR HOMES NEXT TO A COUNTRY CLUB). Editor’s note: As of December 20, a new bill was formed that includes additional funding for the EIDL grant program. it is akin to a stimulus check for small business. Did you guys ever get through the "loan modification is being processed" part? It’s definitely not first come first served. EIDL Grant stems from an EIDL Grant Application process approved by the Cares Act. Join. I've received no further communication since the portal email. Congrats on the loan! 05/30 6AM Email: Your SBA EIDL is … I questioned it not because I’m not happy for you but simply BC it seems unfair to many who have been waiting patiently for months. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. My credit has not been ran. Eidl reconsideration i see some been received what that mean? Before a lender submits a PPP loan … [–]rmj2009 2 points3 points4 points 9 months ago (0 children). I keep checking back. The SBA’s Economic Injury Disaster Loan (EIDL) is a special loan backed by the government that offers an unusually low interest rate. 4 4. comments. And when should I actually get a update? I filled out the application online 2 days ago and recieved a call from a loan officer to up load my documents today. Learn about the Targeted EIDL grants here.. 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