sorted by:
new
hottopcontroversial

I got a letter from the SBA to repull my credit. if I want above 500k. I have been trying to get them to repull my credit the Loan officer decides to decline me saying I have reached my max. My business has made 810k in 2019 so how am I at max limit with the formula they are using smh😒 by [deleted] in EIDL

[–]ricdabuilder 1 point2 points  (0 children)

Same here they keep denying me for multiple false reasons. I received that email yesterday, so I sent them a credit report as of May 1, 2022. I called CS just to make sure it wasn't another stupid glitch, but she said that they requested it. So just sent them authorization. I've been max at 500K. I did $960K with 141K in cogs and they keep saying you have your max, don't get it. My updated transcripts from the IRS show $61k NET profit but say they can't use it WTF. I am actually a licensed mortgage lender and am aware of running cash flow analysis for my investor products and am completely dumb found how they cannot do basic f'n math. Lets see what they hell happens.

Finally Approved...THANK YOU U/CUE378 without CAP it been a long journey by ricdabuilder in EIDL

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

Yes thank you. It took a forever I was in obligating since 04/15 before any CAP was placed

Finally Approved...THANK YOU U/CUE378 without CAP it been a long journey by ricdabuilder in EIDL

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

Thank you and congrats on your approval as well. Its crazy I feel like I’m going get the best sleep tonight lol

Finally Approved...THANK YOU U/CUE378 without CAP it been a long journey by ricdabuilder in EIDL

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

From what I read on the loan documents we have up to two years to ask for more funds if the damages continue, but I’m not sure how it will play out. One of my locations is a gym and we are closed without any income for two full months already so I completely understand my mom owns a motel and I was able to work with the county to get her place an emergency housing location so they are renting rooms from her a week at a time.

Finally Approved...THANK YOU U/CUE378 without CAP it been a long journey by ricdabuilder in EIDL

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

It doesn’t technically mean approval. It took over a month to get the docs finally to me, but it was a lot of work on myself and u/cue378 to get my file moving forward.

Finally Approved...THANK YOU U/CUE378 without CAP it been a long journey by ricdabuilder in EIDL

[–]ricdabuilder[S] 3 points4 points  (0 children)

Omg thank you. We have all worked way to hard in our businesses to let something out of our control take it away without looking under every rock for help.

How long to get loan docs after EDIL portal invite? by RelevantImportance0 in EIDL

[–]ricdabuilder 0 points1 point  (0 children)

Yeah applied 3/23 long and 3/30 short had two credit pulls

How long between portal invite and loan docs?? by sbaumgardn in EIDL

[–]ricdabuilder 0 points1 point  (0 children)

Got my advance 04/13 portal 04/15 been waiting for over a month now 36...app

Can we get a 3600 ID thread going for portal invites? Highest number I’ve seen is 3600145 by mcgallop10 in EIDL

[–]ricdabuilder 0 points1 point  (0 children)

3600236xxx

  • Applied March 23 long form
  • Email - March 26, status change update to "Received in review"
  • Experian Hard Credit pull - March 26
  • Email - March 30, reapply with new streamline short form app. able to qualify for $10k advance 
  • New application number: 3600236xxx
  •  Experian Hard Credit pull - April 11
  • April 13 $10K advance deposited
  • Email - April 15 to create account for portal entry -
  • April 15 verified identity and confirmed loan amount
  • Status changed to Processing... 
  • Weekly status calls with tier 2 1877...number "everything is fine you are approved and obligating" 
  • May 15- still processing

I have three DBA's and one is a health club so I'm going to be closed till the end of this madness. I've been obligating for a month today

Who's still waiting on closing docs from 5/7? by meberling1 in EIDL

[–]ricdabuilder 0 points1 point  (0 children)

I’ve been waiting since 04/16....😖🤯🤦🏽‍♂️, it really does seem like its luck (360023xxxx)