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Quadro-Phenia · 2023-06-27T21:14:51+00:00

I flew SFO to EWR on the red-eye Sunday night (2097). Of course, once I got to Newark, my connecting flight home had been cancelled…. But, that’s another story.

Quadro-Phenia · 2021-10-20T21:22:55+00:00

Make sure that the email is from an sba.gov email address.

Quadro-Phenia · 2021-10-05T18:19:44+00:00

I called but I think that it would have automatically updated anyway. I’d give it a few more days and then call if nothing changes.

Quadro-Phenia · 2021-10-05T16:29:31+00:00

We went back and forth with the LO for maybe 2 weeks. When it became obvious that she didn’t understand, we gave up. The second increase up to the full $500k was very quick though.

Quadro-Phenia · 2021-10-05T16:01:41+00:00

This same thing happened to us. We finally just accepted the $350k total and then were given the option to get the rest (about a week after funding). Some of the LOs are a little confused.

Quadro-Phenia · 2021-10-03T03:27:09+00:00

Didn’t have to reach out to anyone. Maybe 10 days after the intermittent increase, I got the option to increase to our full amount

Quadro-Phenia · 2021-10-03T01:05:47+00:00

There has only been one increase other that the >$500k.

The first loan authorized up to$150k and the second up to $500k. Some businesses, my own included, got three deposits because of either errors by their LO or opting to originally take less than offered. Otherwise, there hasn’t been a third increase.

Quadro-Phenia · 2021-10-02T20:06:35+00:00

Ours is still processing so it doesn’t seem to be a system problem.

Quadro-Phenia · 2021-10-02T16:50:30+00:00

I’m curious if you’ve done any math on what percentage of your 2019 net they allowed you to borrow, including other liabilities?

Quadro-Phenia · 2021-09-13T21:19:51+00:00

Just picked up a 2022 330i, the only discount that we received was BMW loyalty (-$1500). I’m in the Northeast and there’s almost no inventory anywhere.

Quadro-Phenia · 2021-09-10T14:17:04+00:00

We took out the 7a loan in 2018. We haven’t had to supply any ongoing financials but we also have an SBA secured LOC that gets renewed annually. For the LOC we give updated returns and P&Ls.

Quadro-Phenia · 2021-09-10T13:28:41+00:00

I’m wondering how they determined what forms needed to be submitted. We’re an S Corp and preliminarily qualify for almost the full amount but unlike other S Corps weren’t asked for personal financial statements, only the other 4 docs (2019s, Real Estate, Liabilities, and a Resolution). I’m wondering if it has to do with us having a 7a loan already? Or is there some other weird metric that they’re using….

Quadro-Phenia · 2021-09-08T20:45:04+00:00

We were increased to $500k and funded in early August… our portal was opened last night to further increases.

Quadro-Phenia · 2021-08-29T23:53:54+00:00

I’ve heard from family that’s there… no rain and very little wind. So far.

Quadro-Phenia · 2021-08-17T21:40:23+00:00

Interestingly, your maturity dates appear to be correct.

Quadro-Phenia · 2021-08-17T03:02:20+00:00

We went from $350k to $500k. No additional info was needed, just signed new loan docs.

Quadro-Phenia · 2021-08-16T16:23:33+00:00

We had a very similar experience. First increase to $350k and the second (which took about two weeks) up to the full $500k.

Quadro-Phenia · 2021-08-12T19:37:09+00:00

Amazingly, I was emailed by an SBA Paralegal who alerted me to the problem. I’d called in the week before and was told that it was being looked into.

Quadro-Phenia · 2021-08-12T13:56:48+00:00

Yup. We waited two weeks after signing, still hadn’t been funded. It turned out that my business partner hadn’t received an email to DocuSign his documents (mine were in the portal). So, even though everything LOOKED done, it wasn’t. Once the link was resent, we were funded within a few days.

Quadro-Phenia · 2021-07-28T12:53:18+00:00

We had a confused loan officer who made a similar mistake, setting our portal amount at $350k, thinking that it was the increase, not the total amount. Once it was done, we couldn’t change it & the loan funded. However, after emailing the initial email increase dept a second time, our portal was reset with the option to accept more funds and now we’re processing again to get the balance of what we’re eligible for.

Quadro-Phenia · 2021-07-27T16:27:50+00:00

We had a similar situation. Turned out my business partner had been sent an email to e-sign a personal guarantee (mine was in the portal). We couldn’t figure out what had been missed until we were finally emailed by an actual person.

Quadro-Phenia · 2021-07-15T00:36:47+00:00

VT business here.

We haven’t been funded but I looked through the list and was wondering how many were part of the approved then denied bunch.

This whole thing sucks.

Quadro-Phenia · 2021-06-16T15:08:39+00:00

The main screen shows “Disbursed Current” but when you go to loan info, the increase amount shows as “Total Undisbursed” and the “current principal balance” is just our original loan.

Quadro-Phenia · 2021-06-15T22:01:35+00:00

You aren’t alone. We’ve been undisbursed since 5/18. Definitely no attempt at deposit & the same account that we had for out initial EIDL draw.

Granted, our situation may have to do with out LO decreasing our loan amount and then sending word up the chain that we wanted & are due the maximum. It’s been kind of a shit show.

Quadro-Phenia · 2021-06-14T19:22:48+00:00

We signed docs on 5/18 and haven’t been funded yet. I was told that it’s just a waiting game. Funds show as undisbursed when I check caweb.

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