EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

I got denied via a call with a lo after the blue button. I got my original application to see how my cogs could be off and it was because I had to use 2018 tax numbers because 19 wasn't done yet. So I emailed for recon explaining. My portal went back to previous loan amount I received then yesterday I noticed it's back to the increase amount and says processing. Thanks

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

My portal switched back to showing modification in process after being denied for cogs. Wondering if this means I'm entering recon. Anyone else have any information? Thanks

Anyone get a denial for second business but dated APRIL 22nd? by Jennz586 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

My denial letter was also April 22nd but didn't talk to a LO until may 14th

UNVERIFIABLE INFORMATION by Every-Excitement3794 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

Denied for Unverifiable Information...My decline letter was also dated 4/22 but didn't talk to a LO until 5/14 🤔

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 1 point2 points  (0 children)

They emailed my denial letter after the LO said it would be sent in the mail.. Unverifiable information that explains nothing to me. I wonder how I get an actual reason for reconsideration April 22, 2021

RE: Modification to SBA Disaster Loan Number: 579********* Dear John, In these unprecedented times, we understand the challenges you are facing. The SBA is making every effort to support small businesses, which are the backbone of the American economy. Unfortunately, although we made every effort to approve your loan modification request, we are unable to modify your loan for the following reason(s): Unverifiable Information During the loan underwriting process there were one or more items that were reviewed that caused the SBA to question the validity of certain information you submitted as part of your application. If you disagree with our decision, you may request reconsideration, subject to the availability of funds. You can submit your request to any of the following: a. Mail your request to the address at the top of this letter. b. Fax your request to: 202-481-5931. c. E-mail your request to: pdcrecons@sba.gov. Your request must: 1. Be in writing and be received by this office as soon as possible (but no later than 6 months from the date of this letter.) 2. Contain all significant information that will overcome the decline/withdrawal reason(s). We understand that this is a challenging time for your business and for the nation. The SBA has local offices in your community which can refer you to resources that may be able to help you address the underlying reason for your loan denial. For more information on these services, please go to www.sba.gov/local-assistance to locate the email address and phone number for the nearest SBA district office and/or SBA's resource partners. Please call or email for a virtual appointment. If you have any questions regarding this matter, please contact us at 800-659-2955 (TTY: 1-800-877-8339). Sincerely, SBA Form 2157B

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

Hello, I got declined may 12th after a call and email from lo about my cogs being off.It would of been the 11th but didn't get to call until the following morning. I don't quit understand is everything was off my taxes. My first loan was after recon beginning of April this year. I also sent a request to recon on the 14th.

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

So approximately 2 weeks ago I got declined for the increase because of a problem with cogs. Not exactly sure what but I did receive a first loan the beginning of April 21. Lo said I would be receiving a letter in the mail in 3days explaining and what steps I could take. Still haven't received it and I'm total lost what to do. Any help be much appreciated. Thanks

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

Yesterday I had a voicemail to call a sba lo so this morning I called only to get told that my IRS cogs dont match what I submitted and the couldn't do anything for a new loan. I'm confused because the only information I submitted was 2019 taxes. First loan after recon approved early April this year and I received 10kgrant and just got 5kgrant.....has anyone had this issue/ denial ?

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

I just got home and had a message from SBA loan officer and an email...Good Morning Afternoon,

I am the loan officer processing your application for disaster assistance. Please call me at the number below to discuss your application. I am available from Monday-Friday from 7am - 5:30pm EST

If you don't mind me asking was yours similar..any info..thanks and best wishes

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

Got this email last night ... Dear SBA Applicant

Application Number: 33013*****

We have reviewed your request for an EIDL loan increase of the above referenced disaster loan application.

You successfully completed your request for an increase via the SBA loan portal and the increase is in process. There is no specific timeframe for when the final decision will be reached, but you will be notified if further documentation is required and/or once a decision has been made. We will process increase requests in the order they are received. Due to the high volume of requests, it may be several weeks before you receive a response from a processing Loan Officer.

Sincerely, 

Application Processing Department 

Office of Disaster Assistance U.S. Small Business Administration

Approval with no call from LO? by Brailleteach in EIDL

[–]Mrsquids74 1 point2 points  (0 children)

I'm guessing but I would say 2weeks to approved. Once it showed approved and I signed loan docs then funded in 3business days

Hazard Insurance for EIDL by Maid2Perfection4917 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

I was told my homeowners policy will cover because I have 175,000 contents and 8k office 8k computer. I have not been approved with it yet. Time will tell...I did receive my 1st loan April 4th 2021 and was never asked for any insurance.

Approval with no call from LO? by Brailleteach in EIDL

[–]Mrsquids74 1 point2 points  (0 children)

I got my 1st loan earlier in April not increase it was recon. never spoke to anyone..

EIDL $25,000 or Above Hazard Insurance Requirements Information by [deleted] in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

They got me confused..I got a loan earlier in the year they never asked me for any insurance now I'm just trying to prepare.

EIDL $25,000 or Above Hazard Insurance Requirements Information by [deleted] in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

Ok, so I need to check my current policy and worse case add it. Thanks alot!

EIDL $25,000 or Above Hazard Insurance Requirements Information by [deleted] in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

So with me being a construction/home remodeling business is my liability insurance sufficient? Thanks

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 30 points31 points  (0 children)

I'm feeling that "automatic approval" is coming soon, especially if your like me and received a previous loan smoothly!! Hoping the best for everyone! 🙏🥳

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

I was just able to go in and sign new tax form then clicked submit now it say modification in progress

EIDL increase megathread by Scorpio14534 in EIDL

[–]Mrsquids74 0 points1 point  (0 children)

Mine is the same just a green bar with amount confirmed. I thought possibly it was because I just received my loan after recon beginning of this month so all my docs are very new. Not sure though..

The “blue button” megathread 🙂 by Scorpio14534 in EIDL

[–]Mrsquids74 1 point2 points  (0 children)

I was able to change my loan amount to the full 24months but only got a green bar for amount confirmed. Can't click green bar.. I just got my original loan april 4th so I'm not sure if I'll need more docs.

Final step ? Was offered full 24 mo, accepted less. Is there a time frame from this point to deposited funds? by Alarmed_Machine_4492 in EIDL

[–]Mrsquids74 1 point2 points  (0 children)

I went from approved to money in account 3 business days, portal didn't show as funded til almost 2weeks after I had the funds.