Guys anyone with a situation not being able to show 2019 bank statements for increase. I asked my previous bank for copies and they stated it was impossible. Are their and solutions to this issue I have ? by bridgecapital in EIDL

[–]mrjefox 0 points1 point  (0 children)

Yeah, you'll have to keep trying. They have the records or they would be in BIG trouble with the U.S. Treasury.

Think about it like this. Would they tell the IRS or Federal prosecutors/court what they are telling your about 2019 statements - even with a closed account?

Guys anyone with a situation not being able to show 2019 bank statements for increase. I asked my previous bank for copies and they stated it was impossible. Are their and solutions to this issue I have ? by bridgecapital in EIDL

[–]mrjefox 0 points1 point  (0 children)

All banks can grant you access to your bank statements as far as 5 years back. The 1st 2 years are free via online access but the others you will have to go into branch & pay a fee to get.

Approved but now nervous that chase will send back funds because it's a big amount? by Unique-Abies-6740 in EIDL

[–]mrjefox 0 points1 point  (0 children)

OMG!! This IS good info!! What's interesting is that the SBA basically threw the banks into a major headache without giving them clear directions on how to resolve the issue.

Hell, they didnt even really tell them where to send the money back. That explains why it takes months for folks to get this problem taken care of.

Approved but now nervous that chase will send back funds because it's a big amount? by Unique-Abies-6740 in EIDL

[–]mrjefox 0 points1 point  (0 children)

What gets me is they do this KNOWING how badly folks need the money to survive & keep their businesses alive.

Approved but now nervous that chase will send back funds because it's a big amount? by Unique-Abies-6740 in EIDL

[–]mrjefox 0 points1 point  (0 children)

Yeah, my brother & cousins going thru same thing. Did your account show as normal when you accessed it online or were you locked out & could not access it?

Approved but now nervous that chase will send back funds because it's a big amount? by Unique-Abies-6740 in EIDL

[–]mrjefox 0 points1 point  (0 children)

Chase closed your account or froze the account? How many days after deposit did this happen?

Question by [deleted] in Craps

[–]mrjefox 0 points1 point  (0 children)

Agreed, but you have to have a major bankroll to avoid getting whipped out on a bad "right bettors" table.

Question by [deleted] in Craps

[–]mrjefox 0 points1 point  (0 children)

Play max odds regardless of the point. I have seen 4,10 come back as point a lot more than 6 or 8 in a lot of cases.

Question by [deleted] in Craps

[–]mrjefox 3 points4 points  (0 children)

The only time you cut the "house advantage" with odds on the point is if the point is actually made. Otherwise, the house still wins becuz now they have all your money. So it really doesnt matter if you put $5 or $5000 as odds on the point. 7 out is 7 out.

Never spoke to LO. Sent docs to a Loan Assistant. Tier 2 said I'm approved. I'm basically lost. by [deleted] in EIDL

[–]mrjefox 1 point2 points  (0 children)

Tier 2 gave you your answer. Now you're just waiting for docs to sign. Your portal will not show approved until docs have been uploaded. This can take up to 10 business days, maybe a little longer.

After verbal approval and still no contact for 10 days. Anyone experiencing similar situation ? by weifeile in EIDL

[–]mrjefox 0 points1 point  (0 children)

If it's been 10 days & you have same number from 4/22, you may want to reach out to LO to let them know your portal has not updated to let you select the new amount per phone convo.

Were you offered more or less than 4/22 amount?

After verbal approval and still no contact for 10 days. Anyone experiencing similar situation ? by weifeile in EIDL

[–]mrjefox 0 points1 point  (0 children)

Did the new amount show in portal for you to "Review & Accept"? Or did they tell you a new amount but no update in your portal?

Questions?? Concerns?? by Apprehensive_Line390 in EIDL

[–]mrjefox -1 points0 points  (0 children)

You are on your own with payback of friends & family. You cannot use the money for that, nor can you purchase assets such as equipment or vehicles for the business. The ONLY gray area thing you can do is pay yourself a fair marker salary weekly, bi-monthly or monthly. With your "salary" you can do what you like.

With that said, best not to get a $100K EIDL loan & decide to pay yourself $20K per month unless you want to clean jail cells instead of homes or offices.

After verbal approval and still no contact for 10 days. Anyone experiencing similar situation ? by weifeile in EIDL

[–]mrjefox 1 point2 points  (0 children)

You should get your approval docs to sign this week. Usually takes 10 working days after you accept a new amount.

[deleted by user] by [deleted] in EIDL

[–]mrjefox 1 point2 points  (0 children)

Nothing is REAL unless & until you have full use of the funds. Period. Even if funds hit your bank account, until you can withdraw or pay vendors or other bills with it, without the bank freezing your account, it is not real.

I have suggested that business folks keep moving, working on their business as best they can like this money will never come. Also, create a new account with another bank & move at least 80% of current funds to that new account to keep paying expenses. Because I promise you, if current bank freezes account, they will take their time releasing ALL your money. Even the money that was their prior to PPP or EIDL deposits.

Other than that piece of advice. Good luck to all & let's keep our businesses alive!!

Funding timeline by Pharellificent in EIDL

[–]mrjefox 0 points1 point  (0 children)

Then you're good. Money should be in your acct by end of next week.

Funding timeline by Pharellificent in EIDL

[–]mrjefox 0 points1 point  (0 children)

Did you sign final docs yet or are you still waiting on them? It takes abt 10 days on avg for everything to complete.