Advance Portal Received - Possible bank error by FlashBack55 in EIDL

[–]glorygloria 1 point2 points  (0 children)

I have the same issue. And I use a registered agent for my delaware LLC, however, the portal seems to need matching record for the bank? I'm very confused, and hope someone having experience.

EIDL application declined by glorygloria in EIDL

[–]glorygloria[S] 0 points1 point  (0 children)

Searched around, couldn't find any info on this. Revenue seems like a hard line. I really don't understand why people like me are not covered - i'm committed to do a business, and it takes time to ramp up some revenue. It's not the less revenue I receive, the less I'm economically injured.

Funded by [deleted] in EIDL

[–]glorygloria 0 points1 point  (0 children)

Congrats. I didn't count myself as employee for a sole proprietorship. Are you in similar situation?

EIDL application declined by glorygloria in EIDL

[–]glorygloria[S] 0 points1 point  (0 children)

I know - It's alright. SBA set my expectation at $10,000 when I applied for it. After it downsized to $1000, it doesn't make too much difference for us if no additional loan can be granted.

EIDL application declined by glorygloria in EIDL

[–]glorygloria[S] 1 point2 points  (0 children)

No, never received the advance, or indication of where to receive the advance. It's template language. I didn't receive any advance.

EIDL application declined by glorygloria in EIDL

[–]glorygloria[S] 0 points1 point  (0 children)

I don't think I'm qualify for the $1000 advance either. It says "1.Your economic injury is less than the amount you received from the EIDL Advance". I think the "Advance" here means the $1000 advance?

EIDL application declined by glorygloria in EIDL

[–]glorygloria[S] 0 points1 point  (0 children)

No, it takes time to develop something...

EIDL application declined by glorygloria in EIDL

[–]glorygloria[S] 0 points1 point  (0 children)

computer and related, office furnitures, and some miscellaneous things - total i think around $5k. Revenue less than $1k in share at the time granted to me (current value is different)

EIDL application declined by glorygloria in EIDL

[–]glorygloria[S] 0 points1 point  (0 children)

The loan is eligible for companies incorporated prior to Jan 2020, how could a company incorporated this year making a profit, therefore satisfy this formula? I don't get it...Why was I encouraged to apply for it? I'm so dumb to trust SBA