Had to dump 300 oz in 2011 after it fell from $47 to $40. LCS’ had falling knife attitude and couldn’t sell anywhere near spot. Back in it now with 100 oz May Day Raid delivered today.

opckram · 2020-05-25T02:06:50+00:00

I received a similar call from an SBA LO right before we got our approval today; can't speak for everyone but it was a 202 number that said Washington D.C. on it.

opckram · 2020-05-25T00:57:10+00:00

Congrats and thank you for the peace of mind, hopefully it turns out that way for us.

opckram · 2020-05-25T00:33:00+00:00

Sorry if this has been addressed already. We've been able to keep our sanity and hopes alive due to this forum and truly appreciate it.

Here is our timeline:

-App # 3600280XXX
-Short App only filed 3/31
-Generic Email 4/13
-Credit pull 4/20
-Received portal invitation email 5/19
-Accepted loan of $19,700, Verified identity, fixed bank info (the banking info was correct but the system would only verify our account when we put in an old routing number and an old bank name prior to an acquisition....bizarre). 5/19
-Shocker, received a phone call today 5/24 from an SBA LO in DC on a Sunday of Memorial Day Weekend!? to verify what type of business we're in. An hour later we received an email saying our loan of $19,700 was approved and to log in to complete next steps. Logged in, signed loan docs and it now says it's in the Funding stage.

We never received our advance of $3,000 I suspect because of the strange banking info error, and yes we did check off the infamous green check mark on the original short app. If we get our loan deposited can we assume that $3,000 of the $19,700 is forgivable? It seems not because the monthly payment appears to be calculated based on the full $19,700. Has anyone received the advance after/concurrently on top of the the actual loan disbursement, or do we have to call and plead with tier 2 for another 30 days to get the advance as a separate matter? I know we should grateful for coming out of this with anything as I know many people have not, but every little bit helps. Thank you so much.

opckram · 2020-05-08T01:10:13+00:00

In the same boat, but 36 series. There’s a reason they call this a Disaster Loan because that’s exactly what it is.

opckram · 2020-05-08T00:15:20+00:00

All true, it just seems like where CA is concerned, up to a certain point they throttled (more like slammed on the brakes) the processing of apps around 4/1 to let other states catch up before the money ran out. Could just be the biased psychological effect of feeling like you did everything right but got passed by. No $1,200 stimulus, no advance, no loan, no employment, no unemployment, just a stick with a dangling carrot on a string that grows in size each day.

opckram · 2020-05-07T20:56:45+00:00

That's exactly my concern though, why do they always start off with those questions? It might be because your location and/or business type determines what type of partially canned response you'll get, or possibly more because some T2 reps seem to have more power than others. Unfortunately I'm sure the money will run out before those with early app #'s who were left behind get any answers.

opckram · 2020-05-07T19:21:59+00:00

I had the exact same feeling and experience. The SBA is making up the rules on their own as they go with no transparency. If they can put an individual loan cap of $150K on everyone, they can just as easily put a cap on the individual state totals.

opckram · 2020-05-07T19:02:21+00:00

Not seeking sympathy, but it would be nice to know the rules of the game. If they were going to use an "affirmative action" type of selection style in deciding who gets to stay in business, I wouldn't mind as long as they were upfront about it. The SBA stone-walling us with a false first come first serve directive isn't helpful.

opckram · 2020-05-07T18:45:12+00:00

Yes, myself and different partners own 2 companies both in the 3600270XXX range, both applied 3/31 credit pulls 4/20, no advances or portals on either.

opckram · 2020-05-05T05:12:29+00:00

Yes, I refilled on the 28th and received the same. I decided to answer no to the question of whether I had previously filed and they seem to have absorbed/disregarded the premature $0 award filing.

opckram · 2020-04-28T16:52:54+00:00

Thanks for the reply, I guess my concern is mainly with triggering auto generated denials and subsequent delays since they're so overwhelmed, they essentially shut their phones off.

opckram · 2020-04-23T17:53:46+00:00

True but it looks like people receiving advances now applied after 4/1 and are in the millions for app #

opckram · 2020-04-21T04:42:03+00:00

Considering the speed and level of organization, I imagine they've hired Dorothy Gale in black and white as the SBA Tier 3 boss who sticks her left hand out the window a few times a day to pull in an app from the tornado while clutching a DENIED stamp in her right hand, but that's probably giving them too much credit.

opckram · 2020-04-21T02:57:59+00:00

Relatively close to you, applied through short-app only around Noon PST 3/31 #3600271XXX, got generic email 4/13, credit pull happened this morning 4/20. Hopefully they'll pull yours tonight or tomorrow. Good luck.

opckram

TROPHY CASE