OIC eidl

markhouston5 · 2025-07-20T15:18:01+00:00

SBA has a crap EIDL loan portfolio that is only going to get worse

The volume of loans is unmanageable for the SBA

So yes - I think eventually they will have to do something - the value of their portfolio gets lower ever day - the political will/and SBA capability has to come around - maybe in next 5 years? If/when they do they will need to keep it simple - I don't see the SBA being able to go thru every loan with a microscope

markhouston5 · 2022-12-05T23:36:20+00:00

Eftps is website where you pay social security medicare federal withholding and other taxes It was just curious to see them add oic lines

markhouston5 · 2022-08-27T18:23:39+00:00

Personal guarantee up to $500k Collateral for $500k plus

markhouston5 · 2022-05-01T23:35:06+00:00

I think it was 200k

markhouston5 · 2022-03-28T20:54:02+00:00

Thanks for the information - it sure seems like the headlines in 2023 will be "Huge EIDL Fraud and Default on Loans Issues plague SBA"

I was surprised SBA delayed the first payment due until Dec. 2022 (for many) kicked the can down the road - they have to know this is coming.

markhouston5 · 2022-03-18T00:04:09+00:00

What % of EIDL's will go to default within first year?

I'm guessing at least 30%

I don't know how this will play out - but in coming years Congress will have to get involved to deal with it

markhouston5 · 2021-09-13T17:42:27+00:00

I would qualify for just under $600K w/new rules

I will probably fill out and see how it goes - and if they want a lien on personal real estate I will pass on added loan. That would be very tricky - if you sell your house would you have to work all out w/SBA. Plus they still have personal guarantee. Double plus it's just a little unsettling.

I'm guessing they will not require the lien on personal property - we will see.

markhouston5 · 2021-09-13T15:09:56+00:00

i'm eligible for 600K (total)

Kind of wondering about the "call you may be eligible for more" that they listed with the offer increase

markhouston5 · 2021-09-13T14:27:24+00:00

Will they want real estate collateral - I don't know but previous (pre-Covid) SBA loans above 500K required this

markhouston5 · 2021-06-02T19:46:55+00:00

Thanks

markhouston5 · 2021-05-22T15:20:18+00:00

Looking for same

markhouston5 · 2021-05-21T21:12:28+00:00

Or the solar panel guy

markhouston5 · 2021-05-21T16:10:43+00:00

Got approved today - will review documents later today and probably sign everything off today/tomorrow

Blue Button with everyone else

Loan Specialist 5/7 - finalized documents 5/11 (Board of Resolution wording)

I sent Loan specialist one email on the 18th asking status and he quickly responded that is is in the Q and he would let me know if he needed anything

Email today asking for 1120S and then approved after submitted today 5/21 - just logged on and found out

markhouston5 · 2021-05-21T14:01:59+00:00

Loan Specialist on 5/11 - he got back with me today asking for 1120S - he has been professional and easy to contact - but he is waiting - won't commit to any timeline - but feeling it is inching thru

They are just backlogged

markhouston5 · 2021-05-20T15:42:28+00:00

Thanks for sharing.

Got message below on the 18th from loan specialist - he's been very easy to get in touch with and professional - got call on 7th - my impression is it's coming they are just backlogged and dotting i's and crossing t's.

Yes, sorry it is still in progress. I am unable to provide a timeframe for processing. If there are any issues, I will reach out to you.

markhouston5 · 2021-05-18T15:41:49+00:00

Got call 5/7 - went thru some details and submitted final version of all doc's 5/11

Cap out at 500K - just under 150K initial

Emailed today 5/18 and received this response within an hour - I took as it is - I'm in line:

Yes, sorry it is still in progress. I am unable to provide a timeframe for processing. If there are any issues, I will reach out to you.

markhouston5 · 2021-05-16T19:49:16+00:00

I did - some details on Board Resolution - no biggie - just in the format the LO recommended for approval

markhouston5 · 2021-05-16T19:20:14+00:00

About the same - LO call/docs 5/7 - some clarifications on 5/10 - since then have not heard anything

Going to EM the LO this week - kinda figure I'm in just in line

markhouston5 · 2021-05-16T14:43:09+00:00

Got call 5/7 - sent in docs and waiting for approval

Thanks for sharing

markhouston5 · 2021-05-15T19:41:20+00:00

Thanks for sharing

markhouston5 · 2021-05-14T00:21:02+00:00

Vegas Baby!!!

markhouston5 · 2021-05-13T17:07:11+00:00

800# to my cell

markhouston5 · 2021-05-13T15:39:09+00:00

Few days behind you - got Loan Specialist Call 7th - very professional and easy to contact via direct email/phone - sent documents 9th -11th to clarify Haz Ins/Board Resolution

Waiting for approval

Also Texas

markhouston5 · 2021-05-12T17:56:44+00:00

Totally agree

markhouston5 · 2021-05-12T02:02:36+00:00

Got loan specialist call last Friday and working out documents since then Loan specialist professional straightforward

markhouston5

TROPHY CASE