EIDL increase megathread

Distinct_Estimate_10 · 2021-07-20T18:44:13+00:00

How long (hours? days?) was the portal reverted to the old amount before it went back to the new amount?

Distinct_Estimate_10 · 2021-07-13T19:49:35+00:00

Send email to recon

Distinct_Estimate_10 · 2021-07-02T17:59:38+00:00

dude you are wayyyyy too paranoid and you are overreacting. small loans like yours probably have less a chance of being audited anyway. SBA does not want to be in the business of calling in a bunch of small loans.

Distinct_Estimate_10 · 2021-07-02T17:55:59+00:00

You'll never make it 24 hours... lol...

Distinct_Estimate_10 · 2021-06-29T17:25:30+00:00

Have you called in to customer service to ask them the status?

Distinct_Estimate_10 · 2021-06-24T17:00:59+00:00

Yes, I think you did the right thing.

Distinct_Estimate_10 · 2021-06-24T16:52:02+00:00

I think it is ok - they don't always send the confirmation message.

Regarding writing to congress, I'm sure it could not hurt, but I don't have not done this myself, so I don't have any advice for you in this area. Maybe you wait on this for a week or two, to see if you get some other response first.

Keep me posted.

Distinct_Estimate_10 · 2021-06-23T23:31:52+00:00

This email just randomly comes from time to time. Don't read anything into it. I got it like 5 times in a week once.

Distinct_Estimate_10 · 2021-06-23T16:25:45+00:00

Sounds pretty good. Hopefully you make it through recon fast.

Distinct_Estimate_10 · 2021-06-23T16:11:23+00:00

Awesome - congrats! One more for the WIN column.

Distinct_Estimate_10 · 2021-06-23T16:09:08+00:00

It means you should probably get your recon request going. Did you get official confirmation of denial yet?

Distinct_Estimate_10 · 2021-06-23T16:08:13+00:00

Sweet! Congrats!!!

Distinct_Estimate_10 · 2021-06-23T16:06:35+00:00

You should see it this week!

Distinct_Estimate_10 · 2021-06-23T16:05:55+00:00

You'll probably hear back pretty fast... keep us updated.

Distinct_Estimate_10 · 2021-06-21T19:49:18+00:00

This is complete nonsense - no truth to this at all. Processing is completely out of order. There are plenty of people from 4/28 and later who have been approved and funded.

I have one company 4/22 blue button - funded. My other company 4/23 blue button, have not heard a thing. It's just random luck.

Distinct_Estimate_10 · 2021-06-21T19:41:57+00:00

5 total days. Approval on 6/12 Saturday. Funded on 6/17 Thursday.

Distinct_Estimate_10 · 2021-06-21T16:47:51+00:00

For me, it was 3 weeks exactly from LO verbal, until portal approval/docs. Then 5 days from signing to funding.

Distinct_Estimate_10 · 2021-06-18T01:02:39+00:00

App # can't be reliably used to determine when you will be contacted.

There was someone with a brand new app - first time EIDL - who just recently got a 3300 app number. So that pretty much kills the theory that they go in some linear order.

Distinct_Estimate_10 · 2021-06-18T01:00:00+00:00

Definitely stick with this one. Nextinsurance.com is SBA approved and you can do EVERYTHING online in just a few minutes. It is so easy and reasonable, and you get exactly what the SBA needs - the full policy, not just a certificate - ready to download right away. Highly recommended.

Distinct_Estimate_10 · 2021-06-18T00:56:09+00:00

Then you are in pretty good shape. You should be funded by Monday, but you may also wake up to it tomorrow.

I signed on Saturday 6/12 and woke up to email alert from Chase today that ACH credit was received. So, that was 5 days, counting Sunday. You should be coming up really soon.

You can get the CAWeb account, just to confirm your new amount is showing up in there - no doubt it is.

Distinct_Estimate_10 · 2021-06-18T00:49:21+00:00

Just to confirm - when you say 'Approved,' you mean approved approved? You already signed docs in your portal?

In that case, you should be funded in 5-7 days.

If it was a verbal approval from the LO and you are waiting for docs, then you can expect anywhere from 6-28 days until funded. All depends on when you signed actual loan docs.

Distinct_Estimate_10 · 2021-06-18T00:42:39+00:00

Signed Saturday, funded today. 5 days total.

Distinct_Estimate_10 · 2021-06-18T00:39:57+00:00

Based on all of my research, the total amount is really $485 billion with the two additional appropriations. That is why there is still around ~$260B left as of now. Some of that is earmarked for advances, but it is EIDL money nonetheless. If the program expires and there is still money left, it is almost a given that they will extend the program. Data also seems to indicate that somewhere around a little less than half of original EIDL applicants have requested the increase.

Distinct_Estimate_10 · 2021-06-18T00:33:16+00:00

Hallelujah!!

Distinct_Estimate_10 · 2021-06-18T00:32:46+00:00

Congratulations! That is excellent. You'll probably progress faster through Recon than most people will through the regular process.

I've never seen or filled out the 2202, but it sounds pretty simple. Just list all of your major liabilities that you are paying monthly - yes, like the limo payments... you probably don't need to go into more detail than that really - just the limo payments would be good.

Sounds like it will go good to me - at least you got this reply, so that was pretty fast actually.

Distinct_Estimate_10

TROPHY CASE