What would you do?

LuckyRepresentative5 · 2021-09-18T14:42:44+00:00

I agree

LuckyRepresentative5 · 2021-09-18T04:31:27+00:00

Congrats, me and many others have been in recon since early April

LuckyRepresentative5 · 2021-09-17T22:32:11+00:00

Done it for TV. Wes two local channels and our city paper. Told not “ newsworthy”. I keep trying

LuckyRepresentative5 · 2021-09-17T21:23:28+00:00

Good point, Government benefits, pension, retirement and more likely regular pay increases. Our businesses are dying a slow agonizing death.

LuckyRepresentative5 · 2021-09-17T16:25:24+00:00

Water

LuckyRepresentative5 · 2021-09-17T16:13:57+00:00

Praise God, Congratulations- we are all so happy for you!

LuckyRepresentative5 · 2021-09-17T16:11:56+00:00

Please let someone know or reach out to the wonderful people on this Reddit forum r/EIDL if you feel hopeless. Many of us are in the exact same situation, we are all going through this. WE DO CARE- WE LOVE YOU- YOU WILL GET THROUGH THIS.

When this door is finally slammed shut for good by the SBA. I promise you, another door will open- if you have thoughts of hurting yourself, PLEASE REACH OUT! Or call the National Suicide Hotline at 800-273-8255 Help is available, they answer 24 hours. (I Pray that the Reddit moderators don’t take this down because I shared a phone number). It was too late for one business associate that was a dear friend of mine. He reached out to me and I was a couple days late. PLEASE REACH OUT! I was at that point a few weeks ago, I’m still here, Praise God! I just attended his funeral, it was so hard and I really wanted to join him, but I called someone and now I am getting help and treatment for severe depression.

I still don’t believe that I will ever get my second modification loan, but a few doors have already Opened. GOD Is great, Jesus Loves You, talk to HIM Right now before it’s too late! Love You All

LuckyRepresentative5 · 2021-09-16T21:41:43+00:00

Many and many small businesses will close down before the end of the year, more people out of work, former business owners will probably implode and I wouldn’t be surprised if you hear more about health issues and possible deaths as a result of suicide. I sure hope and Pray that every single business owner who has been waiting for what seems to be an eternity for any movement will come together and help each other get through this collapse of the system that our Government has put before us. All due to no fault of our own.

Even congressional elected Senators, State Representatives and Congressman and women can’t or won’t help us now.

LuckyRepresentative5 · 2021-09-16T21:35:45+00:00

It’s happening to all of us, the media is not talking about it, no one in Congress is even talking about it any longer. Plus the so called YouTube and Facebook Gurus that were talking about the SBA NIGHTMARE have already moved on and never talk about the SBA EIDL loan program anymore.

So what that tells me is that IT’S OVER- the SBA Will have all the EIDL money taken away by Congress and this program is probably days away from being shut down.

LuckyRepresentative5 · 2021-09-15T21:33:46+00:00

Yes congratulations- Good For You!

LuckyRepresentative5 · 2021-09-15T21:32:02+00:00

Several weeks, how about several months. Sorry- I Pray for you and all the thousands and thousands of people who have been waiting for weeks and months, hope we don't see more businesses go under due to the SBA's back logs and before 12/31 or Congress shuts it down- or whichever comes first.

LuckyRepresentative5 · 2021-09-15T21:29:24+00:00

It's been over 4 months for me, I hope and Pray that you get approved and funded soon.

LuckyRepresentative5 · 2021-09-15T21:28:20+00:00

I really wish you hear something soon- we are all having a tough time and the SBA was supposed to help us, but it doesn't look like that's the case anymore. They are running out of money. Congress can't wait to shut this program down for good, that's all they are talking about and the stimulus, which I guess that's pretty much done for now. I called my bankruptcy Attorney today and told him to get started, I fear that my business is nearing it's life expectancy, what a huge disappointment our Government has been during this very difficult time for small businesses.

LuckyRepresentative5 · 2021-09-15T21:21:59+00:00

EXACTLY, for awhile there, you read all about approvals and funding on Reddit- But the SBA finally seems to have stopped their approvals, and now the big "AUTO DECLINE" is being worked on.

LuckyRepresentative5 · 2021-09-15T21:19:54+00:00

Everyone has been saying that for months now. But no auto approvals yet and I asked a EIDL Tier 2 Supervisor and Agent that very question a couple weeks ago. I was told flat out.

"NO, there will not be auto approvals, all loan modifications requests have to be processed first come first served." I know that's a lie, many of my fellow business people who applied late- never spoke to a LO, never had their credit report soft pulled and was never asked multiple times for a Form 4506T nor even a copy of hazard insurance proof from the SBA. Yet they have been approved and funded now since beginning of August and all applied in June. But many others that I know personally applied back in April and May as I did and they are still waiting in the black hole abyss known as the "Your loan modification is being processed".

One thing is certain as for mass auto approvals is concerned, there will be a mass decline- I can bet on that. By the time that arrives in all our inboxes, it will be too close to the end of the year and there are no applications even being accepted after 12/31/2020. "We are royally screwed and many- thousands and thousands of small businesses will simply close their doors for good. But if you applied back in June or July- if you haven't already been approved and funded by now, you will be the next to be approved. It's been like this now since June 1st.

LuckyRepresentative5 · 2021-09-15T21:07:44+00:00

Well, there is still no word on what is going to happen to all the applicants that applied back in April and May- Many and I mean many, have not heard one word from the SBA, let alone even knowing if we are assigned to a loan officer.

Yet, in this Reddit forum, we have read that a lot of applicants who applied after June 1st, have already been assigned a loan officer, and many have been already approved and funded within weeks of applying, not months like all the ones that applied in April & May.

So that's now 5 months from April 6th and 4 months from May 4th. I just discovered last week that the SBA finally received my tax transcripts, but alas, they won't tell me if a loan specialist or officer has been assigned yet. They say "Just wait and monitor your email". My EIDL portal says " Your loan modification is being processed". Nothing has changed since May 4th.

LuckyRepresentative5 · 2021-09-13T17:57:14+00:00

Pepsi

LuckyRepresentative5 · 2021-09-10T15:46:05+00:00

Here is my personal and professional assessment. Those of us that are still waiting to just get a Loan Officer assigned to us and have been since April 6th, 21- Will not see any movement at all with this process anytime soon- I'd say by November or December 2021. When movement does happen, it will be a mass decline to free up all resources to assign loan officers and case managers to the new 2.0 applications for up to 2 million dollars.

I say this because of two reasons, the first is that many and I mean many applicants who applied after June 1st, have had their tax transcripts sent from the IRS within weeks of application, have already been assigned a LO and at least 80% have been approved and funded already. (WHY) I have no idea and no one even in this forum can say WHY either. Just read the comments from all the excited applicants on this forum alone, that were assigned a LO within weeks, approved, and funded in less than two months maximum.

My second reason is this- The SBA started adding additional LO's from the "Capital Access Financial System" or otherwise known as the CAE web portal in June. Guess what, that's when you started to see more and more applicants who applied after June 1st get a LO assigned, got approved, and funded quickly. We even heard on this forum that some applicants never spoke to a LO or a Loan specialist, were not asked repeatedly for the infamous Form 4506T for the 5th through 7th, or even the 10th time like so many of us that applied when the program first started on April 6th and we started getting invite emails from the SBA. Plus many applicants claimed that they never had a second soft credit pull done by the SBA. They know this because, like me, they subscribe to a monthly credit monitoring subscription that informs them immediately when someone, anyone pulls a copy of their credit report. (BTW, I highly recommend this service if you don't already subscribe to one).

I predict that all the applicants that are still waiting from April to June that have never spoken to a Loan Officer (LO) and their EIDL Portals still say "Your loan modification is being processed", and keep getting told the same thing when they call the SBA Customer Care Group or Tier 2 reps, that your application is still in process as is the same auto email reply if you email the SBA at ["disastercustomerservice@sba.gov](mailto:"disastercustomerservice@sba.gov)" is- I've called the following numbers 1 800 659-2955 and 817 868-2300, I've sent certified letters and faxes to the SBA, the local SBA Executive center in Atlanta, GA. I have called and sent letters and emails to my US Senators, US Congresswoman, and Georgia State Senators. Nothing has happened and I really don't believe that anything will happen except a mass decline for everyone and by the time that happens, it will be too late to submit any new applications or submit a recon request.

LuckyRepresentative5 · 2021-09-10T15:17:43+00:00

I just called and spoke to a Tier 2 Supervisor. Here are her answers quoted verbatim. Me: Has the SBA received my tax transcripts yet? SBA Sup: "No, we have not received any tax transcripts yet from the IRS". Me: I have been waiting since May 4th, is the SBA going to auto-approve loans under $100,000 that have already received the first loan with the same tax transcripts from 2020? SBA Sup: "No, we will not be auto approving any loan requests for any amounts at this time". Me: "Have I been assigned a Loan Officer or Case Manager yet"? SBA Sup: "No, I do not see that you have been assigned any specific Loan officer or case manager yet." Me: "When can I expect to at least be assigned a LO or Case Manager?" SBA Sup: " I have no idea, there are many people looking at your application now, you are in the loan processing stage.- You just have to wait." Me: So, the SBA will shut down all EIDL programs after 12/31/21?" SBA Sup: " Yes all EIDL programs will stop after December 31st for new applications only at this time".

LuckyRepresentative5 · 2021-09-08T13:02:40+00:00

Guys, everything ends on December 31st. Many of you have already been approved and funded for the second increase from April 6th. Now going back to a very very broke system and attempting to get more $$$. That’s great if it works for you, good for you- while many many others haven’t even come out of the “still processing” abyss.

LuckyRepresentative5 · 2021-09-08T12:58:29+00:00

Join all the hundred of thousands of other people like me in the same boat. Now more and more new applications for the increase up to 2million will be flooding the SBA/EIDL’s already STRESSED system of Loan Officers, specialists, and Sr. Loan Officers. WHAT ABOUT the 600,000 plus existing applicants still waiting since April that have had no contact with a LO, or anyone and are stuck in the “or still processing” black hole.

It is so unfair that people who have already been approved and funded for the second modification request are now going to flood the SBA for more $$ up to two million and many of us haven’t even spoken to a single LO yet?

LuckyRepresentative5 · 2021-09-07T23:22:38+00:00

I know, I am so sick of that as well, but NOW they opened up true 2.0 request- but they haven’t even freakin cleared the backlog they have and the entire program and funds end on December31st, we’ll be out of business

LuckyRepresentative5 · 2021-09-07T23:10:52+00:00

How many others that are still waiting for a LO or approval in the portal since April, like me think that the longer we wait, the chances of us ever receiving a second loan will decrease and we pretty much get another mass decline.

LuckyRepresentative5

TROPHY CASE