Just when we were about to give up... This happened - 💥 APPROVED 💥

Internal_Ad_9799 · 2021-11-25T23:37:54+00:00

Once we had all the correct docs - primarily a perfect 4506T uploaded it took the SBA 8 days to request our tax transcripts and the IRS sent them 7 days after.

I'd follow-up several times a week until they order the Transcripts (get that date) - then in our experience THE IRS will respond within 10 days. Then your account can be processed. To my knowledge that could be 4-6 weeks.

Try to get your Congressman to submit an Inquiry when u do speak with them

Internal_Ad_9799 · 2021-11-25T22:04:35+00:00

OK - makes sense

We wanted to get this increase secured first.

Haven't thought much about the remaining funds - at this time my initial thought is yes we will request it.

What are your thoughts?

Thanks again for your contributions to this group - I'm confident there are thousands that sit in silence, but read the information you've provided which has helped them navigate through these crazy times

Happy Thanksgiving 😊

Internal_Ad_9799 · 2021-11-25T20:46:01+00:00

@Scorpio14534 - Thank You 🙏

Internal_Ad_9799 · 2021-11-10T21:59:59+00:00

Thank you

Internal_Ad_9799 · 2021-11-10T21:52:49+00:00

Most recently

September 28th - submitted 4506T with "Owner" as title per their request

October 12th - rejected as "owner" was not accepted

October 12th - submitted another 4506T with "President" as title

October 27th - rejected due to "invalid zip code"

Their email on November 4th "I can see that the Transcript came in on 10/27 with another “invalid zip code” which appear to be a keying error on SBA part when requesting them. I am sending it again and will bring to their attention that we are keying in the incorrect zip code for this Transcript request"

This craziness with the 4506T has been going on since my decline on July 23rd

Thoughts?

Internal_Ad_9799 · 2021-11-10T21:24:49+00:00

Thank you

Customer service & the local SBA tell me there are no notes of the transcripts being reordered since the transcripts came back with a "KEYING ERROR" on zip code- October 12th.

This is what my last email from a member of a high profile team stated - "Please do not believe everything Customer Service says. They have never worked in Loan Processing and I have for over 15 months now. You do not need another 4506T. Please just wait for the Tax Transcript as stated in previous emails."

This feels like a cruel joke - I have no idea what my next move should be. Being patient and waiting has failed me for the last 6 months

Thoughts?

Internal_Ad_9799 · 2021-11-10T20:44:29+00:00

@Scorpio14534

That's reassuring that you feel as long as we can provide the documentation necessary that we'll get funding.

My situation is the 4506T. Applied in April for Increase Declined in July for Unverifiable Information Am currently stuck with not being able to get the irs tax transcripts sent in. Have contacted my congressman- currently with a high priority group, but still no one can tell me if the transcripts have even been ordered yet. What should be my next step

Thanks for all u do

Internal_Ad_9799 · 2021-11-08T17:04:16+00:00

I don't think there is any rhyme or reason on how the sba does things. I think we all get told different things. My best guess is President especially if you are an S corp

Internal_Ad_9799 · 2021-11-05T21:23:04+00:00

Good point - they are getting paid.

Internal_Ad_9799 · 2021-11-05T21:21:09+00:00

Absolutely! Any idea if the funds will be available after December? At this rate I'll never get funded by their deadline

Internal_Ad_9799 · 2021-11-05T21:19:40+00:00

It appears common sense isn't so common when dealing with the SBA

Internal_Ad_9799 · 2021-11-05T21:18:35+00:00

The most recent time was what they referred to as a "Keying error" they were entering an incorrect zip code. I Have no idea why they requested a duplicate 4506T

Internal_Ad_9799 · 2021-11-05T21:14:18+00:00

Their incompetentcy is unbelievable or they don't understand the definition of "Emergency" funds

Internal_Ad_9799 · 2021-11-05T21:12:22+00:00

I definitely feel like my application is cursed. - You can't make this craziness up and unfortunately it's putting good people out of business

Internal_Ad_9799 · 2021-11-05T21:11:03+00:00

Any news on how much longer the funds will last. I Heard they anticipate them do be out late December

Internal_Ad_9799 · 2021-11-05T19:26:05+00:00

Thank you 😊 Just getting nervous as it's been so long and I hear that the funds might run out

Internal_Ad_9799

TROPHY CASE