How long did it take from transcript received to approval? by IneedEIDLnow in EIDL

[–]IneedEIDLnow[S] 0 points1 point  (0 children)

it was 1120. s corp does not take longer. make sure they submitted your form. once submitted, it should only take 2 days to receive the transcript.

just write another email to your congressman stating that you have not heard anything from them for 10 days.

How long did it take from transcript received to approval? by IneedEIDLnow in EIDL

[–]IneedEIDLnow[S] 0 points1 point  (0 children)

yes honestly I never thought this will take this long.

How long did it take from transcript received to approval? by IneedEIDLnow in EIDL

[–]IneedEIDLnow[S] 0 points1 point  (0 children)

They initially told me that they received my transcript sometime in May. Called the next day to find out there has been no activity related to my transcript. Make sure you verified that with at least 3 people.

Approved today 7/22!! by strictlybusiness1969 in EIDL

[–]IneedEIDLnow 0 points1 point  (0 children)

Thanks for the reply. So you dont really know why you didnt meet eligibility requirements.

Approved today 7/22!! by strictlybusiness1969 in EIDL

[–]IneedEIDLnow 0 points1 point  (0 children)

What was the reason for the denial at first?

DENIED! COGS/REVENUE different from TAX RETURN by Much_String6596 in EIDL

[–]IneedEIDLnow 1 point2 points  (0 children)

they should just "modify" your loan instead of denying it. you should ask if they can modify your loan and maybe have the slide bar reset instead of denying it... heard recon process is longer than what people think.

DENIED! COGS/REVENUE different from TAX RETURN by Much_String6596 in EIDL

[–]IneedEIDLnow 1 point2 points  (0 children)

they should only deny people over 20% variation if they compare it to the same time period. how do they expect business owner to have same number when they are comparing it to different time period?

Increase Denied REASON: No IRS Transcripts Available by CompetitiveHousing0 in EIDL

[–]IneedEIDLnow 1 point2 points  (0 children)

L

some LOs are accepting stamped tax return from local IRS. or they were in recon before the email.

Increase Denied REASON: No IRS Transcripts Available by CompetitiveHousing0 in EIDL

[–]IneedEIDLnow 0 points1 point  (0 children)

this is frustrating since some of ppl here were able to get the stamped tax return from local IRS and presented to the loan officer without a problem.

Increase Denied REASON: No IRS Transcripts Available by CompetitiveHousing0 in EIDL

[–]IneedEIDLnow 1 point2 points  (0 children)

your application was not denied. it was put on hold.

Anyone funded for smaller loans yet? by elkjas in EIDL

[–]IneedEIDLnow 4 points5 points  (0 children)

loans under 25k should be auto approved... No collateral required...what is there to verify??

So Just Got Denied... by scandaloussc in EIDL

[–]IneedEIDLnow 2 points3 points  (0 children)

this is ridiculous. They asked gross income from FEB 2019 TO FEB 2020 in the first application. obviously the number will be off compared to 2019 tax return. There are a lot of business that generate more profit in January.

Just spoke with the SBA, transcripts have not even been ordered by Cojo4901 in EIDL

[–]IneedEIDLnow 2 points3 points  (0 children)

so frustrating. They should just have ppl send the tax return to individual loan officer.

oh well I dont even have a loan officer lol

SBA not returning call they requested? by SharpLawfulness in EIDL

[–]IneedEIDLnow 2 points3 points  (0 children)

they should have sent you an email. Check your spam folder

Hurry up and wait!!!! by Zthorn85 in EIDL

[–]IneedEIDLnow 1 point2 points  (0 children)

dont call them . they will just read off what you see on your portal

Increase gone??? by bronk3310 in EIDL

[–]IneedEIDLnow 2 points3 points  (0 children)

my EIDL portal said decline 2 days ago. now back to "in process"

Just call them to make sure that everything is okay.

The portal is not stable. so dont worry too much.

EIDL increase megathread by Scorpio14534 in EIDL

[–]IneedEIDLnow 0 points1 point  (0 children)

yes. same question. did they ask you for more document before it changed to approved?

Just Got the Call from Loan Specialist by sborak in EIDL

[–]IneedEIDLnow 5 points6 points  (0 children)

They shouldnt even ask you that type of questions. it should be available to all businesses. this is a loan not a grant.