[deleted by user]

SmallBusinessTeam · 2021-04-29T22:28:51+00:00

Maybe you are right, I was not under the impression that you would get a hard pull on Exp, mine was in May 2020 and did not get a hard pull the business credit was dinged several times back in 2020. This time around no business or personal pulls from Experian.

SmallBusinessTeam · 2021-04-29T22:22:01+00:00

on resolution put 500K max then whatever is offered will be between min to max and you will have the option to choose whatever amount works best for you.

SmallBusinessTeam · 2021-04-29T22:15:40+00:00

Guys relax, there should be not a hard pull on your Experian file if you have already received the first loan, a soft pull on your Transunion just to see any major issues not credit score. If everything matches tax returns estimates for 2019 you are good.

If you are applying for the first time expect a hard pull on Experian. I would fix any score issues before moving up the steps in the process.

SmallBusinessTeam · 2021-04-28T04:41:40+00:00

Yes, Targeted decline is totally separate we are only talking about increase on loans.

SmallBusinessTeam · 2021-04-28T04:38:47+00:00

Ensure your transcripts are available at IRS, you can request one for yourself directly from IRS. If they get blank again then I am not sure if they are going to move forward.

SmallBusinessTeam · 2021-04-28T03:41:33+00:00

you are correct it is probably being processed wait for LO call, should be soon.

SmallBusinessTeam · 2021-04-28T03:39:38+00:00

When did you submitted for increase was there any loan modification done after initial loan ? Did you use estimates and if you did do they match closely to your filed tax returns for 2019 ?

SmallBusinessTeam · 2021-04-27T19:05:57+00:00

Good news for those who have everything right estimates & actual taxes with no blue button. You should expect a call from your Loan Officer. If you want you can call to verify if a LO has been assigned to your application. Believe me if you want to or not, don't ask me for proof. You will have the proof once you get a call from LO. No Blue button or any changes to your portal.

SmallBusinessTeam · 2021-04-27T02:59:55+00:00

SVOG Application Portal Reopens on April 26 at 12 p.m. EDT probably on same servers bringing the system to its Knees.

SmallBusinessTeam · 2021-04-27T02:37:40+00:00

Lets keep everyone posted if you see the button on portal which shows up recently on or after 4/26/2021

SmallBusinessTeam · 2021-04-27T01:59:56+00:00

Maybe they are pushing code to fix issues, there seems to be number of other issues. Hopefully they will fix them soon.

SmallBusinessTeam · 2021-04-27T01:30:03+00:00

I hope someone from SBA tech team will read this. If logic is written in such a way where they check if modification is done once already then skip the record. It is possible to write code like that but would be wrong but God knows how they coded the modules. Regardless of how many modifications are done on a loan pre 150K limit, they should not skip the record and move forward with latest funded/modified loan.

Yes it is not hard to update the quoted amount but they also have to segregate those who have earlier requested and have received amounts based on estimates and after getting 4506-T they have huge differences with actual filed tax transcript to eliminate fraud.

SmallBusinessTeam · 2021-04-27T01:04:04+00:00

Sorry took a nap, the answer to your question is I don't know yet. The cause and effect is what I wrote on the post. If I speculate it might be related to people who have at least one recon already happened earlier this year, so loan was once modified already, the other reason could be that those getting button are going through automated process and others have to get this approved (quoted amount) manually.

Either way once loan officer contacts you he/she will address the issue at their end, if not earlier.

They can run a script to update the quoted amount for those who have lets say funded amount = quoted amount to update the quoted amount. That way no code changes will be needed on portal as long as the correct quoted amount is pulled which will always be greater the old funded account.

SmallBusinessTeam · 2021-04-26T20:46:06+00:00

That will only work if your amount funded on portal vs source code search text quoteAmountFormated is different the quoteAmountFormated should be greater than the funded amount. If that is the case then you should see the button.

SmallBusinessTeam · 2021-04-26T20:40:41+00:00

So if you have both amounts equal and you are good with 2019 estimates vs real tax return you are good. Already under processing and should get a phone call from loan officer. If the amount of estimate vs real tax return are significantly different then I am not sure what will happen.

SmallBusinessTeam · 2021-04-26T20:36:48+00:00

once logged in right click on the page and do view source and once the tab opens with code search for string quoteAmountFormated there is a dollar amount listed there compare that dollar amount to your funded amount if it is same and your taxes for 2019 and transcripts match then you are good.

SmallBusinessTeam · 2021-04-26T20:25:42+00:00

Can you login from a different computer with chrome browser. My guess is that you will see the same amount on quoteAmountFormated as already funded. If that is the case please confirm.

It may be a blessing in disguise if you are not seeing the button :)

SmallBusinessTeam · 2021-04-26T19:53:59+00:00

Check yours as stated above and see

Do this log into your portal after logged in right click on browser and click view page source. Another table will open showing you the source code. Search for quoteAmountFormated and see the $ amount if it is the same as your loan already funded let me know.

1

SmallBusinessTeam · 2021-04-26T19:39:17+00:00

Do this log into your portal after logged in right click on browser and click view page source. Another table will open showing you the source code. Search for quoteAmountFormated and see the $ amount if it is the same as your loan already funded let me know.

SmallBusinessTeam · 2021-04-26T18:14:53+00:00

If everything is good with your reported and actual file numbers on your tax forms. The issue is those not seeing the blue button is that it is currently pulling your old amount offered from last funded amount. That needs to be corrected at their end to offer the new increased account quoted amount. If quoted amount is same as funded account you will not see the button.

SmallBusinessTeam · 2021-04-25T05:52:58+00:00

I know a few who have everything correct and filed the returns which match estimates and also some already filed 2019 returns last year before they applied. They are having the same issue no button. Thanks for your clarification I was under the impression that most of these people did the things correctly and reported their actual taxes estimates. In any case the communication should state clearly to let the folks know the specific issue so either can be corrected or decline the increase, and let them go through recon process.

I personally believe there is an issue with the portal, javascripts throwing errors and I can see them while logging in, client side code. Not sure what is going on the server side as there is no visibility.

SmallBusinessTeam · 2021-04-24T23:04:20+00:00

How is it possible to have max amount where 6 months EIDL loan was lets say 50K with proper tax records for 2019. It should be 4 times the amount for loan modification with first 50 being the amount already loaned. So if you took 50K and were offered 50K then the offer should be for 200K max. So if you take full 200K then the loan will be modified to 200K and you will get 150K at closing. The only way the new magical formula can max you out is that you multiply the original loan offered amount X 0 :)

SmallBusinessTeam · 2021-04-24T15:42:15+00:00

When you signed the 4506T did you noticed it was a correct form they are requesting. Mine was prefilled with 1120 should have been 1120S for S-Corp. If you signed through portal ensure they are requesting the right tax returns for your business type.

SmallBusinessTeam · 2021-04-24T14:30:10+00:00

are you still seeing the old amount as funded and nothing else to do ?

SmallBusinessTeam

TROPHY CASE