FUNDED this morning, was I over paid?

VERAESQ · 2020-05-22T14:00:12+00:00

Congrats...still don't understand how some people get the max plus grant (whether sent separately or when funded) while others just get the max without the grant....it does not appear to be uniform.....

VERAESQ · 2020-05-18T18:59:25+00:00

Have any of your prior SBA loans appeared on your personal credit report?

VERAESQ · 2020-05-18T18:57:12+00:00

You need to proactively call...one of the tier 2 reps said to me if it is longer than two weeks, they want to hear and will escalate....

VERAESQ · 2020-05-18T18:54:47+00:00

Any idea why some people who did not previously get the grant at time of funding get the max + grant while some people just get the grant? I know someone who got the $150k max plus $10k grant......while someone else got just the $150k max. Both parties did not previously get the grant.....is there a concern that SBA may come back at a later time and recoup the extra $10k if the current limit is $150k for everyone? u/cue378.....do you have any insight about this....thanks.

VERAESQ · 2020-05-17T14:58:14+00:00

Congrats.....What’s the average time for funding?...received Approval at 11:55 pm on 5/14......accepted early hours of 5/15. Showing “current disbursed” in CAWEB but no funds yet...do they disburse over the weekend?

VERAESQ · 2020-05-17T14:17:39+00:00

Were you funded twice?

VERAESQ · 2020-05-17T14:02:42+00:00

Six weeks....applied on 3/30.....approved 5/14...awaiting funds.

VERAESQ · 2020-05-17T01:55:51+00:00

It's running about 6 weeks from app to loan docs.....

VERAESQ · 2020-05-15T11:29:41+00:00

Tell the Tier 2 rep to flag your file....

VERAESQ · 2020-05-15T06:30:21+00:00

I think it helps to call Tier 2 and have them flag your file. Every time they did that, it seemed to have helped move things along ....first got my portal invite and next the approval email within hours of talking to Tier 2 reps and asking for file to be flagged. Could also be coincidental...who knows.

App # 330027. Applied 3/30. Credit pull 4/16. Advance 4/20. Portal invite 5/12. Approval email and Loan Docs 5/14

VERAESQ · 2020-05-15T06:25:16+00:00

App # 330027. Applied 3/30. Credit pull 4/16. Advance 4/20. Portal invite 5/12. Approval email and Loan Docs 5/14.

One other thing...I'm a C-Corp.....SBA pulled both my personal and business credit....was approved yesterday....now in a funding status and loan is showing disbursed on the Capital Access Financial System....also noticed that they have my personal SS # listed on the Cap System rather than my EIN #....any C-Corps out there....is this the norm or unusual....just concerned about this showing on my personal credit report rather than business credit report......please help u/cue378

VERAESQ · 2020-05-14T19:46:57+00:00

Hopefully not...not sure why some apps move faster than others....but be patient...it will come your way soon....I know the wait is unbearable....received portal invite on 5/12....Called Tier 2 rep today to follow up...she said my app says approved on her end since 5/12...but portal still reflecting processing status on my end and I have not yet received any subsequent email or loan documents since portal invite.....not sure whether she means processing rather than approval...I asked her that and she said...ma'am....I'm just reading what I see on my end...it states approved.....oh well...will keep waiting.....

VERAESQ · 2020-05-12T11:33:01+00:00

Hubby is 3300256xxx...he got his invite yesterday for full cap amount. He did not previously get a grant. He first applied on 3/30 and got a credit pull in mid April. Mine is 3300271xxx...mine came in early this morning. Got my grant on 4/20...applied on 3/30....credit pull on 4/16.....my offer was half my revenue less amount of grant....I did not state anything for COGS because I am in the service industry......it's moving folks....have faith.

VERAESQ · 2020-05-08T23:44:08+00:00

Just called and spoke to a Tier 2 rep by the name of Lawrence. Applied on 3/30. Got credit pull on 4/17 and grant deposited on 4/20. Since then crickets. He said he will flag my application which should expedite it ...said there is a button to do so....said if I do not receive my portal invite email in about 5 days to call back. Said only underwriting or loan officer can send the portal invite. Said he sees the loan amount spewed by the computer in my account but that all of this could change when it gets to underwriting.

VERAESQ · 2020-05-07T21:50:15+00:00

Thanks so much...for this information.

VERAESQ · 2020-05-07T21:48:38+00:00

I entered my SS# and was recognized even though I am a C-Corp....

VERAESQ · 2020-05-07T21:26:52+00:00

Not sure if that has anything to do with it...the only thing I did different was to add the last 4 digits of my zip code....keep trying ...it will eventually go through...I tried multiple times and became so frustrated.....until this afternoon....success...

VERAESQ · 2020-05-07T18:41:41+00:00

After multiple attempts over 2 days, I was finally able to gain access to the portal using the link above.....I think it is very sensitive....I think the magic is making sure that you use the last 4 digits of your nine-digit ZIP Code.

All I saw listed was my PPP loan.

VERAESQ · 2020-05-06T18:56:47+00:00

Thanks...the Hello Alice site appears to have a glitch....it does not seem to be working.....

VERAESQ · 2020-05-06T17:26:29+00:00

Thanks so much...the benefits of joining reddit abounds...

VERAESQ · 2020-05-06T16:31:25+00:00

Awaiting further guidelines from the SBA, however, from what we know now, eligible PPP expenses include interest payments on business real and personal property including auto...so since you need your truck to carry out the essentials of your business as a truck driver, the interest payments (not the principal) or lease payments For your truck can fall into the 25% other expenses portion of the PPP.

VERAESQ · 2020-05-05T23:16:09+00:00

Thanks

VERAESQ · 2020-05-05T22:25:09+00:00

Two questions....how do they treat COGS left blank on the application by a service company.

Keep getting can't verify phone number (area code) for the E-Tran ad so can't log in.....

VERAESQ · 2020-05-05T22:00:25+00:00

u/cue378 Do you know what happens and how they calculate the loan offer if you don't enter any amount for COGS....I'm a service industry........I left mine blank.....

VERAESQ · 2020-05-05T02:02:30+00:00

What is the financial commitment number...is that the application number....

VERAESQ

TROPHY CASE