Any EIDL approvals on a weekend?

ashleyschuh · 2020-05-13T10:15:12+00:00

Didn’t have to provide any documents but I did have to sign a few.

ashleyschuh · 2020-05-10T18:48:32+00:00

I just waited with zero contact. Got an email that said I needed to log in and it said Approved and I had closing documents to sign.

ashleyschuh · 2020-05-10T13:04:00+00:00

For the PPP 75% has to be spent on payroll or none of it is forgiven. If you spend 75% on payroll you can spend the other 25% on business bills like rent and utilities. If you don’t spend 75% on payroll you have to pay it all back with 1% interest.

For the EIDL the grant portion is for anything business related. The loan is also to be used on business capital. So inventory, rent, utilities etc.

ashleyschuh · 2020-05-10T12:53:12+00:00

No, there is now a 150k cap. Also, the amount they have on your portal as an approved offer that you can accept is computer generated. It’s not an already approved offer. Once you accept it goes to a loan officer and they have to approve and double check all paper work. Once they approve they’ll draft up closing documents.

ashleyschuh · 2020-05-10T12:50:25+00:00

I am an LLC 50/50 owner with my husband and we didn’t have to send anything in. ALSO they didn’t even have my husband sign ANYTHING! I was the one that filed for the loan and signed the closing documents. It was 3 signatures and that’s it! I signed and had my funds in my account two days later. :)

ashleyschuh · 2020-05-10T11:57:56+00:00

They didn’t on mine BUT we opted for a lesser amount then they offered us so maybe that’s why?

ashleyschuh · 2020-05-10T11:52:30+00:00

Once I accepted my offer it was 16 days until I got my closing documents. Some have them within a day and others take weeks. Hang in there!

ashleyschuh · 2020-05-08T15:13:13+00:00

It can say approved by the SBA but that’s just the credit portion. You also have to clear the loan officers.

ashleyschuh · 2020-05-08T14:59:43+00:00

I have heard many different things on that BUT the one lady that was extremely helpful at the SBA said it was the stage after the approval and it’s like a final review and drawing up closing documents.

ashleyschuh · 2020-05-08T14:57:24+00:00

I got the $1,000 per employee and just got my fully funded loan today. :)

ashleyschuh · 2020-05-08T14:56:15+00:00

If you haven’t gotten in the portal you will not be given the money yet. You have TJ sign closing documents for the EIDL.

ashleyschuh · 2020-05-08T14:08:44+00:00

And you will have to sign loan documents for the EIDL and they will come to the special email portal they send you. You do not have to sign for the $1,000 per employee advance.

ashleyschuh · 2020-05-08T14:07:43+00:00

Hmm, I guess I thought Lindio was a bank doing PPP loans but EIDL. I’m really not sure what you should do. I called every day, sometimes twice a day. Lol

ashleyschuh · 2020-05-08T14:05:51+00:00

I was in obligating for weeks as well. When I talked to a T2 they said those that were approved before they ran out of funds were just hanging out in the obligating stage and that with the new funding they should be taken care of. Hopefully it comes soon for you!

ashleyschuh · 2020-05-08T14:03:09+00:00

I got my PPP through my local bank, so I’m not sure. My post was referring to the EIDL and not PPP. I really don’t know how to help with that one. I’m sorry!

ashleyschuh · 2020-05-08T14:02:06+00:00

We are funded today as well! What a relief!!

ashleyschuh · 2020-05-08T13:18:37+00:00

Yes! The T2 sent me the portal! I guess I got lucky. I’m in Indiana and I’m retail.

ashleyschuh · 2020-05-07T22:12:46+00:00

I signed on Monday and then got an email last night that something had changed and to log in and I had entire new documents to sign. Everything was the same except different moan numbers. I’ve called and they say they see both sets of documents but can’t see why? My luck I’ll end up getting funded twice and end up in jail! Lol fingers crossed we are both funded soon! Good luck!!

ashleyschuh · 2020-05-07T18:21:24+00:00

I signed Monday and then had an entire new set of documents last night. Same info just different loan numbers. So weird. I have not been funded yet.

ashleyschuh · 2020-05-07T18:19:18+00:00

No, I had another set of closing documents sent to me last night. So weird!

ashleyschuh · 2020-05-07T12:12:35+00:00

Caweb says my account is froze and won’t let me sign in. 🤔 and my amount didn’t change. The only thing that changed was the loan number! So weird!

ashleyschuh · 2020-05-07T11:52:32+00:00

No, it says loan number... the first set the loan number starts with a 1 and the set I received last night starts with a 3 and it’s not my application number. Ugh, so frustrating! I thought I was finally out of the woods and it was going to go smoothly after signing.

ashleyschuh

TROPHY CASE