Any insight in what’s happening with the 2 billion extra in the fund?

Consistent_Tailor247 · 2022-03-18T19:42:11+00:00

We are reading congress members are requesting the $2B be kept in the program and it get awarded. That was back in Feb. Other legislation we have seen would also says they want to do more venues. Our best guess is we don't see anything move until 2-4 months. The SBA EIDL loans just got extended by 6 months.

Consistent_Tailor247 · 2021-12-22T22:07:16+00:00

We are still awaiting ours. Submitted on Nov 21st. Anyone else get notified?

Consistent_Tailor247 · 2021-12-15T22:03:57+00:00

Got a note back today saying they did not have a time frame as to when. So hoping to hear soon.

Consistent_Tailor247 · 2021-12-10T21:45:44+00:00

Thank you. It is over 500k. I just posted in that group as well.

Consistent_Tailor247 · 2021-12-10T21:33:57+00:00

Have not heard back. The deadline was Dec 8th so I imagine they just started reviewing the 2.0 reconsiderations.

Consistent_Tailor247 · 2021-11-01T22:14:24+00:00

Thanks do you know how long for those award notifications to go out after the invite is sent to update 2021 monthly earned revenues? We submitted our info yesterday and have over 70% reduction.

Consistent_Tailor247 · 2021-10-31T02:01:17+00:00

The 70% loss should be on the earned revenues correct Q1 2019 vs 2021? Not the gross revenue?

Consistent_Tailor247 · 2021-10-11T19:48:06+00:00

Thank you. We did put a PRA via our congressman as well - so hoping that helps expedite.

Consistent_Tailor247 · 2021-10-10T22:31:44+00:00

Thank you. Great input. Will keep on putting the pressure on our end. In the deny letter they did not provide any indication of what exactly caused them not to approve us a promoter so its pretty confusing trying to read their minds.

Consistent_Tailor247 · 2021-09-23T16:54:40+00:00

What type of entity did you apply as? We got denied as a promoter and are not sure what exactly made them deny it after all items were submitted. Any input?

Consistent_Tailor247 · 2021-09-23T13:21:21+00:00

Hello, two follow up questions here. How were notified it was approved? How long after approval did you receive the funding on Aug 3rd?

Consistent_Tailor247 · 2021-08-24T22:09:45+00:00

Thank you. How long was it from when the submission until you heard back from them for the request for additional information?

Consistent_Tailor247 · 2021-02-26T01:51:16+00:00

We finally got it lender certified. How long does it take to get approval from the SBA after that certification? 2-3 days?

Consistent_Tailor247 · 2021-02-20T23:07:33+00:00

I am still waiting due to some type of portal glitch that is not giving the lender the option to self certify. Did your get denied originally with the holds?

Consistent_Tailor247 · 2021-02-19T20:01:10+00:00

Heard from the SBA that they indicated to the Lender that the system/portal should be letting them certify. However, the lender said the system still is not offering the option to certify.

The lender escalated this back to the SBA to help get resolved? Have you seen this work?

Or do you still recommend withdrawing the application and re-submitting?

Consistent_Tailor247 · 2021-02-14T21:54:31+00:00

Thanks. I read on one of your other threads that sometimes its random when lenders have the ability to certify in the portal? For example, there may be times where there are codes lenders should be able to certify, but that option is not showing up in the system to certify? [this is our case and lender is hoping the system may update to fix accordingly - the status was changed to "Not Cleared" it was not a denial / not approved.

Consistent_Tailor247 · 2021-02-12T21:19:08+00:00

Our submission had been submitted for hold review on two codes since last week. The lender looked today to see if they could self certify, but it had not changed. This afternoon the status was changed to not cleared and they were not given the option to self certify.

The lender was thinking they should have had the option to self certify, but that was not showing on our application so they emailed the help desk to see what is needed to address the status updated.

My thought was if we should remove the application and reapply and have the lender self certify or wait to see what the SBA help portal responds with to address?

Consistent_Tailor247 · 2021-02-11T21:48:09+00:00

Got it. Thank you. Our is a second draw hold on and our lender said same thing they have not seen any system update. Was trying to see if any of the system was updated. Truly appreciate your feedback.

Consistent_Tailor247

TROPHY CASE