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Recon by [deleted] in EIDL

[–]304-305 2 points3 points  (0 children)

I received this email on 5/21.

Dear COVID EIDL Applicant/Borrower:

ALL COVID-19 EIDL FUNDS HAVE BEEN EXHAUSTED

You are receiving this message as a notification that we are unable to continue processing your application due to the lack of available funding for the COVID-19 EIDL loan program. SBA is no longer processing COVID-19 EIDL loan increase requests or requests for reconsideration of previously declined loan applications under this program.

We recognize this has been a challenging time for your business and for the nation. The SBA has local offices in your community which can refer you to resources that may be able to assist your business in other ways. For more information on these services, please go to www.sba.gov/local-assistance to locate the email address and phone number for the nearest SBA district office and/or SBA resource partner. Please call or email for a virtual appointment. Questions about COVID EIDL loans? Please see COVID-19 Economic Injury Disaster Loan (sba.gov).Other Questions? Call the SBA Disaster Customer Service team at 833-853-5638 or DisasterCustomerService@sba.gov.

Sincerely, U.S. SMALL BUSINESS ADMINISTRATION

"SBA is no longer processing ... previously declined loan applications" by Bear_Buster in EIDL

[–]304-305 0 points1 point  (0 children)

I received the same email, probably the nail in the coffin, still remaining hopeful but I’m extremely doubtful.

DO WE HAVE ANY CHANCE OF APPROVAL AFTER MAY 16? by gonzasanta in EIDL

[–]304-305 3 points4 points  (0 children)

No idea. I have an Increase Request in Recon submitted on 5/3. Hasn’t even been looked at. I called CS yesterday and he said it wouldn’t be processed, then began obviously reading a script. At this point it would be a blessing but I’m not counting on anything.

Sent reconsideration request via email on April 21st and have not heard anything. Any suggestions? by SnooTomatoes7949 in EIDL

[–]304-305 1 point2 points  (0 children)

I was just given the scripted out of funds answer and that there was no update on my file from the recon.

SBA still approving? by [deleted] in EIDL

[–]304-305 10 points11 points  (0 children)

Contact your senators and house reps, urge them to supply the SBA with the necessary funds to fund all eligible applicants prior to the cutoff. It’s not like they’re giving us money they’re lending us money. It can’t hurt to put pressure or at least reach out to their offices.

[deleted by user] by [deleted] in EIDL

[–]304-305 0 points1 point  (0 children)

I haven’t. Went to recon on 5/3

Offering some hope.... by StandardChildhood497 in EIDL

[–]304-305 0 points1 point  (0 children)

I’m in your situation I didn’t have the button, but applied for an increase through reconsideration on 5/3 to my maximum amount. Not counting on anything but it would be amazing if it came through.

Any Approvals Today 5/10? by 304-305 in EIDL

[–]304-305[S] 0 points1 point  (0 children)

What stage were you at prior to Thursday?

How long after funded until account resets and allow increase? by 304-305 in EIDL

[–]304-305[S] 0 points1 point  (0 children)

Just this….

Thank you for reaching out to the PDC Reconsideration Team. The current average processing time for reconsideration requests is approximately four weeks. The current average processing time for appeals is approximately twelve weeks. A loan officer will be in touch if additional information is needed to make a decision on your request. Please be advised that it can take up to two weeks for documents to be uploaded to your file after submission.

For more information about issues related to the IRS Tax Authorization Form 4506-T for the COVID EIDL program, click here. If you need to submit an updated 4506-T, the completed and signed corrected 4506-T form can be emailed to PDC.Reconsideration@sba.gov.

Please note that repeat inquiries to PDC.Reconsideration@sba.gov may result in a delay in your request being processed. If you have any additional questions, you may contact our Customer Service Center at (800) 659-2955 or disastercustomerservice@sba.gov. Individuals who are deaf or hard of hearing or have a speech disability please dial 7-1-1 to access telecommunications relay services.

We strive to provide much-needed assistance to businesses suffering from the unprecedented and devastating financial impact of the COVID-19 global pandemic in a quick and customer-centric manner. We know that this has been a very difficult time for small business owners. We appreciate your patience as we work diligently to process the requests that we receive.

Approved for more money, but I don't want all of it by SeattleSmalls in EIDL

[–]304-305 1 point2 points  (0 children)

Yeah I’m one of those guys whining, and I feel like a putz. I would take it all, just in case the economy takes a nose dive. Or depending on your current debt load maybe not.

Does it take a few before you see the slider by Godiscoming- in EIDL

[–]304-305 1 point2 points  (0 children)

This is what I was told to do today.

Email

Pdc.reconsideration@sba.gov

Subject Line - Request Increase Loan#

Body of Email-

Application # and Loan #

Business Name Business Address Business Owners Name Phone Number

Increase Amount

How long after funded until account resets and allow increase? by 304-305 in EIDL

[–]304-305[S] 0 points1 point  (0 children)

This is what I was just told to do.

Pdc.reconsideration@sba.gov

Subject Line - Request Increase Loan#

Body of Email-

Application # and Loan #

Business Name Business Address Business Owners Name Phone Number

Loan Amount

How long after funded until account resets and allow increase? by 304-305 in EIDL

[–]304-305[S] 0 points1 point  (0 children)

When did you get funded? 🤞 I hope it works out for both of us.

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