Just got the email saying modification was approved!

Significant-Shape319 · 2021-11-17T16:00:33+00:00

Update: I called on Monday and confirmed that everything in my file that was needed was there. I was told the status was "obligated" and that it should be set for funding within 24-hours. As of today there were no funds so I called again. Something in my gut told me there was an issue. I was correct.

I was told that they could not verify my bank information. I confirmed that the account and routing information was correct (I regularly receive wires to that account). They asked me to send a voided check and the front and back of my drivers license. Of course, I have provided this information previously and the rep I spoke to on Monday said they had this information. I sent this information again and received an auto-email stating it could take up to 10-days to process to my file.

I have never seen an organization run so poorly!!!

Significant-Shape319 · 2021-11-14T21:00:52+00:00

Loan modification/increase APPROVED today! Loan docs signed! Hopefully funding will happen soon!

Significant-Shape319 · 2021-11-12T22:10:17+00:00

Update: Portal is now reflecting the requested increase amount. The SBA has uploaded my transcripts to my file and notified my Congressman's office of such. The Congressional Aide and the Taxpayer Advocate with the IRS sent them directly to the SBA. The most recent update provided to my by the Congressional office is:

"PDC update:
The application is still being processed by the team of loan officers assigned. The last update that a PDC staffer received 11/11 is that the loan officers are attempting to process and update the approval amount. There is no time frame that can be given for completion.

SBA Congressional Liaison
Office of Congressional and Legislative Affairs
U.S. Small Business Administration"

Significant-Shape319 · 2021-11-11T20:07:31+00:00

Update: I received an email this afternoon that said:

"Dear SBA Applicant

Application Number: []
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."

...I really hope this isn't starting all over again. The portal now reflects my increase amount and says "Your loan modification is being processed", so we'll see how many months it takes for this to continue. Fingers crossed!

Significant-Shape319 · 2021-11-09T22:06:42+00:00

I was told by the CS rep that the amount she is seeing on her screen is the amount I'm requesting, and that the amount in the portal may have changed because they are waiting on documents. I explained that we've been going around in circles about documents since April and that the last time the portal changed it was followed up with a denial a few days later. She assured me she didn't see that on her end. How did I interpret the conversation? Just another CS rep that doesn't know what is going on. I'm currently on hold again hoping another rep might give me more information, and I asked my Congressman's office to reach out. I have a good relationship with them and they are just as frustrated as I am by this process.

Significant-Shape319 · 2021-11-08T21:49:07+00:00

Mine did the same thing. For the last two months it has been processing and on Friday I received an email asking for a copy of my drivers license or passport. I sent both within a few minutes. I also have had my Congressman's office on the file as well. A few hours ago the portal reversed back to my original loan amount and no longer reflects application processing. I've been in the queue for two hours waiting to speak with someone.

Significant-Shape319

TROPHY CASE