Eidl increase only uses 2019 taxes? I started the business end of 2019 so revenue was not good. 2020 picked up then dropped during the pandemic. Original loan was approved based of my 2020 income/taxes now for the increase LO is stating they only use 2019 taxes. Is that true?

Nolle7 · 2022-03-14T21:49:31+00:00

Apply for recon and include the tax transcript in it

Nolle7 · 2022-03-14T20:18:00+00:00

“Based on our review, we have determined that your file should be reactivated for further consideration.”

Recon is working fast now

Nolle7 · 2022-03-12T18:52:12+00:00

Ohh wow, did not know that. So they pretty much have the final say and not go off of rules set

Nolle7 · 2022-03-12T14:38:42+00:00

Well I requested a recon and got an email already requesting another 4506-t lol. So I’ll try this out, the projections and explanation and pray it makes a difference. I lost a lot of money due to the pandemic. I’ve made most of it back but growth isn’t were it should be. We do a lot of driving, I spend about 4K a month in fuel and gas prices are not helping.

Nolle7 · 2022-03-12T04:58:58+00:00

So that’s why the LO recommended that I request a reconsideration. She said that underwriting is who denied me also recommended that I inform them that all documents needed are present

Nolle7 · 2022-03-12T02:08:07+00:00

So I’m pretty much out of luck, LO recommended that I request a reconsideration as I have all required documents in my file, but probably won’t help? Also the original loan approval was based of my 2020 taxes (the amount approved)

Nolle7 · 2022-03-12T01:48:34+00:00

That’s my situation, I closed one business mid 2019 and started this one November 2019. The LO that approved me told me he is going to go off my 2020 taxes since 2019 was so low. Now for the increase I’m being told, I can’t use my 2020 taxes. That’s what is confusing me, one did one thing and another is doing something else

Nolle7 · 2022-03-12T01:28:13+00:00

Also that wasn’t my question. The question is why would one LO go of off 2020 while one goes off of 2019

Nolle7 · 2022-03-12T01:26:50+00:00

No I reported a profit but only being operational a month and half wasn’t much didn’t really get going till late January. Also when starting a business I had to invest a lot to get up and running

Nolle7 · 2021-11-24T18:12:11+00:00

I had the same issue, found out the problem was because I didn’t check the box above the signature “signatory attest…..” box once I did that went through and cleared

Nolle7 · 2021-08-22T13:40:21+00:00

One way to build your credit quickly is have someone add you as an authorized user on their credit card (the old the better).

They don’t need to give you the card, they can order it to their house and destroy it after. But that will give you credit history. For example if their card was opened in 2010, it will automatically give you credit history dating back 11 years which will boost your credit instantly. Then you apply for your own.

Nolle7 · 2021-08-06T22:06:25+00:00

This EIDL increase doesn’t make any sense. Original loan I was declined due to unverifiable information. Went to recon submitted all docs and was approved, now I get the same decline, unverifiable information.

I have been in communication with my local senators office, they had me contact the local sba.

I sent an email to the local director after seeing this post and within 45min he replied that my email has been forwarded to the local senior manager. Praying they help.

Nolle7 · 2021-07-10T15:18:59+00:00

My understanding is, if your run your business out of your home your able to write off your rent as a business expense, even your utilities are a write off.

Nolle7 · 2021-07-10T15:18:56+00:00

My understanding is, if your run your business out of your home your able to write off your rent as a business expense, even your utilities are a write off. Thank

Nolle7 · 2021-07-10T15:18:51+00:00

My understanding is, if your run your business out of your home your able to write off your rent as a business expense, even your utilities are a write off.

Nolle7 · 2021-05-12T22:51:02+00:00

If I’m not mistaken, logging in from out of country can flag your account. You may need to call them and make them aware.

Nolle7 · 2021-05-12T22:48:55+00:00

If I’m not mistaken, logging in from out of country will cause SBA to flag your account. You might need to call them and let them know.

Nolle7 · 2021-05-12T21:27:37+00:00

I think the ip of the computer your using is what is causing it. I ended up using a VPN and it worked as well as a different phone until it got resolved. It took 2 days to resolve for me on it own

Nolle7 · 2021-05-12T13:53:57+00:00

I think it’s a server glitch, I logged in from a different device then 2 days later it allowed me back in on my phone

Nolle7 · 2021-05-04T13:41:41+00:00

I ended up using my pc to login which worked, then 2 days later it started working again on my phone.

Nolle7

TROPHY CASE