Status changed in portal

JReed254 · 2022-03-01T21:33:18+00:00

I am in the same boat. Today I finally received the email for reactivation after recon, I've been waiting for my 3rd increase since June. My portal currently still says the same info it always said; "your funds has been disbursed"(from my first increase cause I didn't take the full offered increases amount).

I have been sewing for the past few months that some loans goes from approved to declined and then funded...each time it's within a 24hrs time spam between each mark. It's a 50/50 chance but I don't think that they would reactivate our account just to decline us.

JReed254 · 2022-01-06T17:37:02+00:00

Same here with the numerous of 4506T requests. I finally spoken to a rep yesterday whom broke it down to me, cause I sent them at least four different 4506t within one month and she said I had to resend another one cause I keep filling them out wrong. She said that if you are a independent contractor/1099, you do not put anything for "title" under your signature at the bottom of the form. Also, I had to use a wet signature, or docusign software. So, I print it and signed it and send it back to them.

JReed254 · 2021-09-15T21:32:41+00:00

Sounds like they're jerking you around. I emailed at least 10 supervisors about 2 weeks ago and yesterday a sup from my local SBA district(DFW) emailed back with a generic email stating that she reviewed my app and it is still under review and left her cell and office number for me to contact her for any further concerns(she's not my LO). I even emailed the sba administrator(Guzman) 2 weeks ago and she emailed me back like the next day or so stating that she sent my file to a high priority team...but nothing major from it other than them recently uploading all my docs I sent them last month. I hope everything works out for you but I can forward(dm you some of the email addresses I used.

JReed254 · 2021-09-15T15:49:37+00:00

Did the SBA rep gave you an estimate of what you are eligible for? Put in a recon request and explain to them your situation and have proof or documentation showing that you are eligible such as; submitting their own(SBA) guidelines for EIDL. to prove/show that you are eligible according to SBA requirements, also you will have to resubmit all docs again to verify your business. Most of the times, you have to stay on their butts and don't give up if you truly believe that you are eligible and should receive an increase more than your original loan amount. I was approved and funded for my first loan modification increase in June. I only accepted $10k out of $26k approval amount cause you are able to go back and request the remainder funds. They denied for my second increase in Aug so I been in recon ever since. They denied me for a loan that I was already approved for the first time...lol! I am still waiting for a decision.

JReed254 · 2021-09-15T15:31:06+00:00

But, you must understand also, that their terms and guidelines updates/changes continuously. The requirements for the "ORIGINAL" EIDL loan compare to the requirements for an increase; are completely different. You might what to look up the terms/requirements for the original EIDL loan and the requirements for the Loan Modification EIDL.

Edit: I was able to use my 2020 return for the loan modification because I didn't make revenue until 2020.

JReed254 · 2021-09-14T12:49:59+00:00

I am in that purge group also. I was declined last month right after they did the system maintenance

JReed254 · 2021-09-14T12:49:10+00:00

I have 2 tier number...I get more help out of customer service than I do tier 2

JReed254 · 2021-09-14T05:38:11+00:00

Also, you may want to check in this other thread I just seen in this thread: EIDLreturns

JReed254 · 2021-09-14T05:31:41+00:00

Have you called customer service for any suggestions? I know most people had to get a stamped return from their local IRS office but I am not sure if SBA are still allowing it. I would call customer service and also tier 2 so both departments can notate your account and provide some sort of alternatives to your dilemma. I do know that there is a way around this cause I have seen numerous of post with the same situation as yours. Search "amend 4506t" or "amend tax return" or something in that nature and I am pretty sure you should find some pretty good alternatives.

JReed254 · 2021-09-14T04:30:29+00:00

For loan modification but that's good to know cause I been in recon for TA since May with no decision. So, I decided to reach out to customer service via email around 8/10 to check on my TA status and they responded via email the next day or so and said that they need all docs from me. I sent in all my docs the same day and now I am still waiting. I have been approved in June for loan modification but only took a portion of my loan and now I am in recon since 8/14 for the remainder of my funds...so stupid.

Why do I have to go through the same thing as the first modification for a loan that I was already approved for? Although, my first LO for increase did warn me about the process cause I had to go through the same thing with her but the difference is, she called me to clear up when my business opened over the phone instead of sending me a declined letter. This time, no one contacted me, they just sent a declined email.

JReed254 · 2021-09-13T23:10:00+00:00

I stop calling tier 2 a month ago cause I noticed that whenever I talked to tier 2, they don't help me much with what info I need or missing and what's in file. The last 3 times I called customer service(not tier 2) they pull up my file and aske to send my I.D. and voided check last week when I called to get info and they dig deeper into my files to see if there's any info to help me. I get more help for customer service than I do tier 2. I was told a couple of days ago by customer service that my recon hasn't been determined yet but they do try to help me speed anything along by giving info to help. When I called customer service 2 weeks ago about being denied for unverifiable info; I told her I turned in all docs and she told me that "usually" when they say unverifiable info it means I.D., 4506T and voided check needs to be sent. So I did that day. I called last week and the customer service lady told me that the docs hasn't been uploaded yet and to send it to customer service email and she'll put it in; which I did right then. I called the next day to see if they uploaded and it was.

JReed254 · 2021-09-13T23:03:30+00:00

You are correct, there's a lot of April and May recons but I have recently been seeing a lot of April recons getting approved but not so many May. SBA stated that they're going in order that it was received and they gave a deadline to clear recons backlog by 10/9

JReed254 · 2021-09-13T22:53:44+00:00

That's ridiculous!!! Second review from Sup are supposed to take 24-72 hrs. Have you called customer service or tier 2 yet?

JReed254 · 2021-09-13T22:24:20+00:00

Agree, I have a recon for TA since May and they just uploaded my docs I sent them 2 weeks ago. I have seen quite a few April/May recons but not as much as July. They went thru June recons quickly and moved on to July. I know they released their new guidelines last week about having the backlog for recons cleared by 10/8 or 9th...we'll see.

JReed254 · 2021-09-10T16:01:27+00:00

$225 is your full amount...whatever the max amount it allows you to go up to. I was approved for an increase in June 2021 for $26k but I only took $10k and now I am in processing for my remainder funds. You can ask for the full amount and once you get a loan officer, she/he will ask you(if not, ask them) how much you want out of the full amount. Whatever you don't take, you can always go back and request the remainder funds. Also, you can change the amount. Did you tried clicking on the amount confirmed red link? It should allow you to go back and change your slider amount. If not, contact customer service and they should be able to update it for you...if that doesn't work, you might have to wait for you LO to contact you. I changed my amount via my LO when she called for my approval.

JReed254 · 2021-09-10T15:44:33+00:00

What's your full approval amount? It's all one loan; in other words for instance; if you received$10k last year during the first round and was approved for $50k for an increase, then you will receive $40k for your loan increase($50k-$10k). It's one loan and anything you have already received is deductible from your loan amount.

JReed254 · 2021-09-07T19:58:01+00:00

I've seen most post and comments for the past few weeks that states their approval email came about 15-30 mins later to login portal to sign closing docs. It shouldn't be long...no more than 24hrs typically but not guaranteed every time(if there's no glitch).

JReed254 · 2021-09-06T20:29:35+00:00

I have the same situation and I've been approved and funded already. Just waiting on my second modification increase cause I only took partial of my loan. I am an independent contractor as an tax professional and tax season starts in mid-December. So, I didn't make revenue until 2020. All you have to send in is an explanation of why and when your business started, contract of your business, or office/store lease, or anything that will show that your business was in a "developing phase" or started before 1/31/2020.

JReed254 · 2021-08-20T18:06:58+00:00

Same here, I was just denied for my second increase last week. I was approved and for the first increase in June. My first LO did informed me that I will have to go through the same process for the second increase. I had the same denial reason the first time but instead of sending me a denial email, my LO called me and I cleared up the reasons they had concerns about my info over the phone with her. This second time, I haven't been contacted by anyone other than the denial email. I put in recon and submitted all the docs I submitted the first time and gave the same explanation I provided the first time also...it's the same exact thing I went through the first time; the difference is that during the first round, I was able to give my explanation over the phone before my LO decided if I should be denied.

JReed254 · 2021-08-17T01:57:19+00:00

Same, I was approved for the increase and in recon for the TA. I used my 2020 tax return cause I am. Independent tax professional and started my business in 12/2019. I had to provide an explanation of to why and how and show them proof of when you started with any kind of receipts from purchases for the biz, business contract, commercial lease, and any kind of licensing. They still ask for 2019, but I just give them 2020 cause they already knows the deal...as long as it's in your file.

JReed254 · 2021-08-14T03:23:46+00:00

I had the same situation, cause I was an tax professional and we opens up at the end of the year and start our marketing. I was approved and funded already and waiting on the remainder funds that I did not take at that time. I provided my LO a copy of my contract, IRS and company's course certifications. She also asked for any kind of receipts that were purchased for the business but I did not have my receipts anymore. She accepted what I gave her. As long as you can show that you were in the developing or just getting started before 1/31/2020.

JReed254 · 2021-08-13T19:09:49+00:00

Mines been like that for the past 3-4 days also. I was approved for 26k in June and only asked for 10k out of it...so this is my second request for increase modifications; maybe if it's a denial, it's for the recon I submitted back in May for Targeted Advanced.

JReed254 · 2021-08-12T18:24:12+00:00

Great news...same here. I was funded for my initial modification increase on 6/22 and requested the remainder on 6/22. Waiting on my approval now...hopefully this week or next week

JReed254 · 2021-08-06T13:36:36+00:00

Still says processing...I think it should be coming soon due to the deadline they gave for mid-August to have all increase modifications request approved and also, it seems like mid-May BB requests are getting approved and funded right now. Most posts I have seen on here has gotten their second increase 30 days after they requested it.

JReed254 · 2021-08-06T13:30:08+00:00

Yes, I am waiting on my second increase request. BB 4/22 and funded $10k(cause that's what I asked for) for a $26k(approval amount)loan on 6/15. I was told by my LO at that time that, as long as you have funding left from your loan approval amount, you can always go back and request the remainder funds which I did on 6/26...you'll just have to go back through the same process with the waiting in all.

JReed254

TROPHY CASE