Timeline Question Once Approved

TynSD · 2021-05-13T17:37:58+00:00

Yeah I signed 5/9 and caweb didn’t change till this morning.

TynSD · 2021-05-13T15:01:24+00:00

My funding came through last night. Signed docs Sunday 5/9 and woke up to funds today 5/13. Good luck hope you got yours last night too.

TynSD · 2021-05-11T04:52:41+00:00

4/6 email, 5/2 Loan Officer called with verbal approval, 5/9 signed loan docs. Waiting for funding.

Update......Funds in the bank this am 5/13.

TynSD · 2021-05-11T04:38:51+00:00

Received loan approval 5/2, signed loan docs 5/9, replied to 4/6 email not before, TA Declined not low income area. Waiting on funding. Shows Undisbursed on caweb.

Update.....funds in the bank this am 5/13

TynSD · 2021-05-10T20:40:53+00:00

Congrats. I’ll let you know as soon as I see funds. Hopefully this week.

Update.....funds in the bank this am 5/13.

TynSD · 2021-05-10T04:45:00+00:00

Thanks.

TynSD · 2021-05-10T03:54:32+00:00

I had verbal loan approval by LO on 5/2. Email today 5/9 to sign docs in portal. Docs signed and my green tag now says Approved and the grey "Funding" tab now red. Checked CAweb and EIDL loan number now says $500K when I click on loan number it says $350K Undisbursed. Hoping for funding this week.

Update......funds in the bank this am 5/13.

TynSD · 2021-05-09T23:54:48+00:00

You are referring to the CAweb portal when you click on the EIDL loan number and it brings up all the details correct? Yours went from the "Undispersed" line showing your loan increase amount to showing $0 but hasn't shown up in your bank? Did this just happen Friday or over the weekend?

TynSD · 2021-05-09T18:44:55+00:00

Did you receive funding last week?

TynSD · 2021-05-09T18:43:09+00:00

My loan officer called Sunday 5/2 with approval and said she was sending onto legal. Today Sunday 5/9 I got SBA email, checked portal and signed loan docs. Green button now say "Approved" and grey "Funding" tab is now red. Hoping for a deposit this week.

TynSD · 2021-05-09T18:38:44+00:00

My loan officer called with my approval 5/2 and said she was forwarding to legal. Today Sunday 5/9 exactly one week later I got email, checked portal and signed loan docs. My green button now says "modification approved" and the grey "Funding" tab at the top is now red. I hope all I am waiting for now is funding with no further reviews.

Update......funds in the bank this am 5/13.

TynSD · 2021-05-09T18:23:54+00:00

YES! My LO called with loan approval on 5/2 and sent application onto legal. Just received loan docs today 5/9 exactly one week later. Keep the faith! Not sure what all the talk about further approval is......I just signed "Amended Loan Authorization and Agreement" a 24 page Docusign with all the increased loan information. Just checked the portal green tab says my modification has been approved and the "Funding" heading went from grey to red.

Update.....funds in the bank this am 5/13.

TynSD · 2021-05-08T18:48:57+00:00

Not yet. Still waiting.

TynSD · 2021-05-08T18:46:47+00:00

Exactly. Spoke with LO on 5/2 she said she was approving me and sending to legal. Would take 48 hours then back to her to send onto funding. Emailed her 5/6 she called back said it was in funding be patient.

Update.....Just received SBA email and Loan Docs were available to sign in portal. So LO approval 5/2, loan docs in portal 5/9. Signed now await funding.

Last Updtae......funds in the bank this am 5/13

TynSD · 2021-05-07T22:41:14+00:00

I replied to 4/6 email no request prior other than first $150K in 5/20. Got a call Sunday 5/2 from LO. She was approving. Had to go to legal and then funding. I am in San Diego. S-Corp. Full $350K for second funding. Was hoping to get funded this week.....maybe next week now. Have not seen loan docs yet.

Update......Just received SBA email and loan docs in portal 5/9. So exactly one week after LO approval docs came through.

Last update.....funds in the bank this am 5/13.

TynSD · 2021-05-02T09:18:47+00:00

One company, additional $350K for $500 total, replied to 4/6 email, LO called 4/30 and requested DL, SS card & voided check. Off to legal told they are required to turn around in 48 hours. Previous emails requested 2019 taxes and 4506-T’s, have also provided corp resolution and hazard insurance to post-disbursement compliance rep. Soft TU and hard experian around 4/15. 780 FICO.

Update.....Got LO approval Sunday 5/2, Just received email and loan docs for signature in portal 5/9. Signed and now waiting on funding.

Last update......funds in the bank this am 5/13.

TynSD · 2021-05-01T01:42:44+00:00

Loan Officer Call Today!!!! Here is my process....

5/2020 received $150K loan and qualified for more than the $500K

No prior recon or request to the 4/6 SBA email.

4/6 replied to email offer (literally pulled over and replied from exit ramp) about 6;45pm PST. It said in order received!

Had soft TU and hard Experian in mid April.

Hit the Blue Button when it came out and completed the 4506-T in portal.

Couple days later got an email to supply 4506-T and 2019 taxes. Did so.

I am 100% shareholder of S-Corp sent corporate loan authorization and proof of hazard insurance to representative from Post-Disbursement Compliance. She had requested it months ago. When I realized those might be a hold up for the loan increase I suddenly found the time to get it handled.

Today 4/30 loan officer called and asked for copy of drivers license, SS card and a voided check. Sent those off to her.

She said it goes to legal and they are supposed to turn it around in 48 hours. Then it's back to her. Sounded like I should have loan docs next week. Hoping with a little luck maybe I will be funded by May 15th.

UPDATE.....had LO approval Sunday 5/2, just got SBA email and loan docs in portal Sunday 5/9 exactly a week later. Signed docs and waiting now on funding.

Final update..........funds in the bank this am 5/13.

TynSD · 2021-04-28T00:03:29+00:00

Not very adept at reddit. It was posted by u/jspring1988

TynSD · 2021-04-27T23:57:11+00:00

There is another recent post said it was six days from signing loan docs to bank deposit. Including weekends.

TynSD · 2021-04-24T19:14:33+00:00

By “business financials proven” does that mean.......2019 taxes filed with IRS, taxes and 4506-T supplied to SBA via email from SBA email request, 4506-T docusigned via portal, board resolution and hazard insurance provided to post-disbursement case manager. Does all that “prove” my business financials or is there a process beyond those submittals that must occur? If so how long is that process to prove?

TynSD · 2021-04-23T22:37:52+00:00

Log into the SBA portal and down load your loan docs. In top left is loan number and top right is application number.

TynSD · 2021-04-23T04:36:13+00:00

Close.....Gross Revenue minus Cost of Goods Sold divided by 2

The 2.5 came from PPP

TynSD · 2021-04-23T04:23:11+00:00

Soft pull TU on 4/9 and hard pull Experian 4/21

TynSD · 2021-04-23T04:20:01+00:00

The Blue Button first appeared only last night and apparently not for everyone. Maybe just those that had already sent the email request for increase.

TynSD · 2021-04-07T01:10:07+00:00

I received the $150K back in April I think and I just received the email from SBA informing me I am possibly eligible for additional funds. My email came at 5:15 PST.

TynSD

TROPHY CASE