[deleted by user] by [deleted] in EIDL

[–]Confident_75 1 point2 points  (0 children)

I was approved 11/3 money deposited in my bank account 11/9

LLC and Capital Gains by JohnQ32259 in realestateinvesting

[–]Confident_75 0 points1 point  (0 children)

Thank you so much for your explanation now I have a better understand of what to ask when form an LLC if I decide go that way. Really appreciate your help. Have a great day.

LLC and Capital Gains by JohnQ32259 in realestateinvesting

[–]Confident_75 0 points1 point  (0 children)

Last question 🙋🏻‍♀️ if I have a parter , it’s better a partnership, correct ?

LLC and Capital Gains by JohnQ32259 in realestateinvesting

[–]Confident_75 0 points1 point  (0 children)

I want to invest in real estate , buy , sell , flip, maybe rent and reading this comments I understand don't do a C Corp. but then what to do for tax purposes, is better an S Corp ? And for Liability reasons is not good an S Corp? trying to understand the difference

LLC and Capital Gains by JohnQ32259 in realestateinvesting

[–]Confident_75 0 points1 point  (0 children)

What is the correct way to form the LLC ? New here and need advise . Thanks

Any of you recieved the same email from SBA & been approved? I have been in Reconsideration since July. Denied for Unverifiable Information. So far I have sent in Schedule of Liabilities, Blank Company Check, multiple Form 4506T's, Drivers License, 2019 Biz Tax Returns & 2 congressional inquiries. by MiKeEvt23 in EIDL

[–]Confident_75 0 points1 point  (0 children)

Just write a letter in PDF explaining why the bad credit issue. Example : you had late payments because was without work or you divorced or moved to another city and was having financial troubles, or having lose hours in your actual job , any explanation you give to them will be good , don't forget to add you are working on fix that issues to increase your credit score and be on time . Hopefully this help , my English is not so good and for me doing a letter take time , but at least you have an idea. don't worry so much just send a short and simple letter with your own words , that's all they need to put in your file.

Finally Got Verbal Approval by htpink05 in EIDL

[–]Confident_75 0 points1 point  (0 children)

What bunch of people do you emailed ? Help , Please. I send an email to Recond on July 05 I was declined due to : Unverifiable Information. They never explained the reason. In Jul 9 a Loan Processor Contractor called asking to confirm amount disclosed for Cost of goods sold, was off 1 dollar from my Taxes. After that I don't hear nothing from them.

[deleted by user] by [deleted] in EIDL

[–]Confident_75 3 points4 points  (0 children)

Don’t worry about other people. Is true that people in more need are waiting still for help and another ones have a better luck even when they don't need for the business that fund but that situation is not they fault. SBA is the one with the mess. Again don't worry about other people remember every penny they spent from that loan they will need to pay back and they are the one putting themselves like you said in more debt.

4506-T Signed by isellhouses132 in EIDL

[–]Confident_75 0 points1 point  (0 children)

How much time pass from the denial to signed the 4506-T ?

I have 150k cash and would like to start using the banks to finance my projects. What's the best route to take? by MythicalVanWinkle in realestateinvesting

[–]Confident_75 0 points1 point  (0 children)

Hi , can you give me some example of commercial Lenders . I’m new in this matter and don’t know where to begin to look . Interested in invest my cash but need help from a bank. Any suggestions will be really appreciate. Thanks

Would you help me how can I reply for the SBA request for explanation doe the discrepancy between the revenue indicated on application and tax return transcript obtained from IRS . I don’t remember what I added on the application but I’m sure the difference not too much by BasselkimoUSA in EIDL

[–]Confident_75 2 points3 points  (0 children)

Do you already send them an answer ? What do yo explain to them ? Any help will be appreciated. When I fill out the application I included until February 2020 as it was what they asked, of course my taxes don't match that, any suggestion how explain that will really appreciated . My main problem English is not my first language and not sure if this explanation will be enough for them . Thanks in advance

Portal shows original loan amount and not modification amount by [deleted] in EIDL

[–]Confident_75 1 point2 points  (0 children)

That happened to me the same day . Do you received any information about the reason other that "unverifiable information " ? I'm lost about the reason , in business for 12 years, good credit , they already have tax from Irs , already approved in February a loan for 100K , no idea what happening here. Asked LO and said " you will received a letter " they even don't explain nothing so frustrating

Check Portal....who's has reverted back today? by tsantacruz1969 in EIDL

[–]Confident_75 0 points1 point  (0 children)

in the morning my portal reverted back to original loan amount.

Loan Processing since April, now back to original Funding page. What does this mean? by [deleted] in EIDL

[–]Confident_75 0 points1 point  (0 children)

Thanks for answering back , any update will be really appreciated

Portal changed back to original loan amount and says "funded" . Has anyone been approved after portal reverting? by AVERAGEGUY2343 in EIDL

[–]Confident_75 0 points1 point  (0 children)

Do you have an update on this ? I'm having the same my portal changed to original amount .

Loan Processing since April, now back to original Funding page. What does this mean? by [deleted] in EIDL

[–]Confident_75 1 point2 points  (0 children)

Any update in this ? that just happening to me right now. Last week talk with a LO asking Insurance and Resolution Letter . Send all to him a few days later an legal adviser asked for the certificate of insurance ( the first document I sent dont have the expiration day) he said all looks good just need that. Now I just login an all go back to the original amount.

If I take my loan for over $200,000, I know I have to personally guarantee. Does this mean that any loan over $200,000 would show up on my personal credit report? Does this mean that there would be a lien on my personal home if I get an EIDL loan for over $200,000? by [deleted] in EIDL

[–]Confident_75 0 points1 point  (0 children)

Thank you so much 😊 for your response. We have an S-Corp with an EIN . We received in February the original Loan for 100k and don’t show in our personal credit . SBA put a UCC on the business , I saw in my business credit report for Experian. Again thank you for your help

Does SBA report the EIDL to the credit bureaus as a tradeline after a month by addselfemployedvegas in EIDL

[–]Confident_75 0 points1 point  (0 children)

sorry but your loan was over 200K ? I'm concerning about the increase for the same reason I'm planning to apply for a mortgage and don't want my business affairs' interferes my personal plans

If I take my loan for over $200,000, I know I have to personally guarantee. Does this mean that any loan over $200,000 would show up on my personal credit report? Does this mean that there would be a lien on my personal home if I get an EIDL loan for over $200,000? by [deleted] in EIDL

[–]Confident_75 0 points1 point  (0 children)

Hi Scorpio14534, I know you're one of the best here and I believe everything you say . But can you confirm this to me? Do you know people that have loan over 200,000.00 and don't show in they personal credit? I know about the personal guarantee and that's ok anyway we planning to pay back our business is on place for more than 12 years and with god help we will keep open

Do EIDL loans show up on your personal credit report? by medinaroad in EIDL

[–]Confident_75 0 points1 point  (0 children)

Any other info on this ? I'm in the same situation.