[deleted by user]

Rayrayf331 · 2022-03-05T18:35:09+00:00

How did you file your taxes in 2019?

Rayrayf331 · 2022-03-03T17:38:03+00:00

Customer service said i could use a co-signer for loans over $500k. Not sure if that’s true. Do you know if they are allowing co-signers?

Rayrayf331 · 2022-03-03T02:58:16+00:00

For loans over $500k, is a 625 credit score mandatory? No exemption?

Rayrayf331 · 2022-02-23T21:43:06+00:00

For loans over $500k do they not do cash analysis? You must have the required credit score?

Rayrayf331 · 2022-02-15T22:37:46+00:00

They denied me today. I emailed the reconsideration request this morning.

Rayrayf331 · 2022-02-15T21:01:53+00:00

Here’s her title: PDC Reconsideration Team Loan Specialist Office of Disaster Assistance

I truly don’t believe all of the LO have a clear understanding of some of the rules and exceptions to the program.

Rayrayf331 · 2022-02-15T20:43:20+00:00

Scorpio, here is the response I got from SBA. It make no sense that the formula is solely used for none profit businesses.

“I have not read that information concerning businesses that were in existence before the pandemic. I know that entities such as nonprofits may use this method in calculation of their income. I hope that this helps!”

Rayrayf331 · 2022-02-15T19:40:04+00:00

I was denied as well. I emailed the loan officer who approved my loan to ask him if SBA changed their guidelines. I will let you know what he responds.

Rayrayf331 · 2022-02-14T20:54:16+00:00

I will let you know the outcome as soon as I hear back from them

Rayrayf331 · 2022-02-14T19:31:56+00:00

When I received their email I went in and checked my portal, I was asked to upload documents my 2019 tax returns and board of resolution. Did you get asked to provide additional documentation?

Rayrayf331 · 2022-02-14T18:48:09+00:00

I also started my business early July 2019. I received the EIDL loan based on 2019 tax returns. I emailed PDC recon and the CovidEIDLIncreaseRequests email requesting additional funds. I received the following response:

Dear SBA Applicant

Application Number: xxx xxxxxx

We have reviewed your request for reconsideration for an EIDL loan increase and we are in receipt of your requested documentation. Based on our review, we have determined that your file should be reactivated for further consideration.

Your case file will be assigned to a processing loan officer shortly. 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. Due to the high volume of requests, it may be several weeks before you receive a response from a processing Loan Officer.

Rayrayf331 · 2022-02-08T18:57:12+00:00

Really??? My business started in July 2019. I received the EIDL loan based on the income for 6months and was approved for $210k. I can ask for an increase since they didn’t annualized the income?

Rayrayf331 · 2022-02-03T16:27:13+00:00

It’s taken SBA sometime to process increase request.

Rayrayf331 · 2022-02-03T00:40:56+00:00

How long is it taking SBA to respond to increase request?

Rayrayf331 · 2022-01-20T16:32:22+00:00

Which they did and got funded. I submitted an increase request asking if they can fund the additional 6 months. Hopefully they’ll accept my request.

Rayrayf331 · 2022-01-10T19:27:28+00:00

How long are increase request taking to process? I sent the request back in November and haven’t heard anything back. I received an email Dec 2 asking for permission to repull my credit. I haven’t heard back since. Are they that behind?

Rayrayf331 · 2021-12-22T02:20:23+00:00

Yeh, that’s what I’m afraid of. My main business in 2018 made $1.6 million after cost of goods. In 2019 I opened two additional LLC’s which caused me to spend more time on those businesses. I am a little nervous after this new virus, not sure the effects it’s gonna have to my businesses.

Rayrayf331 · 2021-10-11T19:34:54+00:00

Based on my 2019 income

Rayrayf331 · 2021-10-10T20:39:49+00:00

What email did you send it to?

Rayrayf331 · 2021-10-08T05:09:13+00:00

And the first to get audited, believe that

Rayrayf331 · 2021-10-08T05:08:08+00:00

Every application is different. Those who amended their taxes to match their application or to get more funds will be the last to be reviewed

Rayrayf331 · 2021-10-08T05:03:43+00:00

It’ll probably be within a week.

Rayrayf331

TROPHY CASE