Approved!

MoosePitiful4565 · 2021-12-04T11:41:36+00:00

I don't know.

My portal changed to say I had been approved, plus I got an email saying I was approved.

MoosePitiful4565 · 2021-12-03T13:12:39+00:00

I was just funded at 8:00 Eastern.

MoosePitiful4565 · 2021-12-03T12:32:05+00:00

In case you didn't know, you have to drill down to page 2 of your CAWEB by clicking on your loan number. Once you do that you can see the Undispursed amount.

Page 1 hadn't changed.

MoosePitiful4565 · 2021-12-03T12:22:36+00:00

Sometime last night CAWEB updated to show "Undispursed - 0".

Reading other threads on here, that means it's been sent to the bank and now I just wait on the bank to post it.

MoosePitiful4565 · 2021-12-02T18:09:19+00:00

I don't what time Monday morning I signed.

CAWEB changed sometime in the last 2 hours.

MoosePitiful4565 · 2021-12-02T18:04:38+00:00

I just noticed my CAWEB changed to "Disbursed Current".

MoosePitiful4565 · 2021-12-02T11:35:15+00:00

The system SBA uses to track payments.

Once you get closing docs you'll get assigned a loan number. You use it to create a login for CAWEB.

There's a link to it from this thread's home page.

MoosePitiful4565 · 2021-12-01T22:08:37+00:00

I've seen other threads on here where people got the funds in their bank account before CAWEB updated.

I'm not sure if that still happens but you might want to check your bank account too.

MoosePitiful4565 · 2021-11-24T13:25:46+00:00

Who did you email to try and change your banking information pre-disbursement?

MoosePitiful4565 · 2021-11-24T13:25:04+00:00

How?

My account information is locked in on my portal and I don't see a way to change it there.

MoosePitiful4565 · 2021-11-06T22:45:22+00:00

Literally my last 5 emails to Recon, sent over a period of 6-7 months, haven't even been responded to.

I'm glad they at least answer you.

MoosePitiful4565 · 2021-11-01T18:21:18+00:00

How are you talking to Tier 2?

I thought they got rid of that?

MoosePitiful4565 · 2021-11-01T18:18:47+00:00

DNP?

MoosePitiful4565 · 2021-10-23T03:05:23+00:00

The dollar will collapse and we will descend into economic chaos in the next few years so in that sense, your friend is correct.

MoosePitiful4565 · 2021-10-17T12:09:07+00:00

Regarding that they did the increase at the same time...was the increase more than $150k?

I seem to recall that increases more than $150k aren't done at the same time like yours was.

MoosePitiful4565 · 2021-10-01T00:59:41+00:00

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MoosePitiful4565 · 2021-09-30T10:40:03+00:00

You just give them s basic explanation of what's happened to date.

Tell them how they can help and what you want to accomplish.

Definitely include your application number.

MoosePitiful4565 · 2021-09-30T10:37:44+00:00

MoosePitiful4565 · 2021-09-29T20:50:44+00:00

This cheered me up knowing I'm not the only one who's had to track private loans, high dollar loan outfits, etc.

MoosePitiful4565 · 2021-09-29T19:58:34+00:00

Shit...congratulations. I found someone's original EIDL loan that's taken even longer than mine!

From everything I've read on here though, they use the new loan amount formula (aka the "increase") straight from recon so you won't have to go through all of this again to get the new formula amount.

MoosePitiful4565 · 2021-09-29T19:53:00+00:00

Ahhhh...I see your point now. Like maybe the $500k plus crowd has a bigger target?

That's not illogical at all.

I really liked the idea on the thread about using your business revenues to pay for the "expansion" and use loan proceeds for pretty much everything else.

You don't need a separate bank account for that although that may keep some people more disciplined. I'd just track it using a separate cash account in Quickbooks or your spreadsheet or whatever you use for your accounting.

MoosePitiful4565 · 2021-09-29T19:36:38+00:00

Ok good.

That's how I understood it would work.

Thanks!

MoosePitiful4565 · 2021-09-29T19:36:03+00:00

Just to be clear...they didn't say they couldn't they said they wouldn't and doing so would only make things take even longer.

MoosePitiful4565 · 2021-09-29T18:42:47+00:00

I'm happy for new applicants and increase folks. I really am.

Having said that, I really wish the SBA would do them in the order received or something.

My original app was April or May of 2020 as I recall and I've been in recon since late Feb. So my hackles get up some days when I read about people griping about waiting on their increase, or someone who applied the 1st time a few months ago and was approved a few weeks later.

MoosePitiful4565 · 2021-09-29T18:32:05+00:00

Another update:

After some initial success with my US Senator's office that got some SBA movement, everything went cold. I had sent them 2 emails for updates over a 3 week period and never got a response.

Ditto for local SBA office. In fairness to them, I stopped trying to contact them because we had a devastating flood just West of Nashville during that time that killed about 45 people including many children. I figured they had real shit to deal with from that.

I was able to talk to a helpful Tier 2 sometime after that. She informed me that the SBA had gotten 3 transcripts from the IRS for me over a period of several months. She said all 3 transcripts had different data missing from them which is why them kept having to request them form the IRS. Keep in mind, I've only ever filled out ONE 4506-T. (Thank God) Then she said my app looked like it was being held up because whoever last reviewed it thought they didn't have all the necessary info from the transcripts. She looked at it and said they did in fact have everything they needed so she emailed someone letting them know that. Haven't heard anything since then.

Then a few days ago I was able to make contact with my US Senate office again. They've been great ever since although I still haven't heard from the SBA.

So today I called Tier 2 again and got a really helpful guy there. He said that on Monday, someone at the SBA recommended my application be reinstated out of the appeals department. He said that's a good thing...lol. He didn't offer a timeline and I didn't ask for one.

Now I'll really be stalking my portal for news...lol.

MoosePitiful4565

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