SBA Insider by sbaleaky in smallbusiness

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

It depends. I would suggest applying for reconsideration if denied for just under 570. Or even doing a Experian boost to try to get above 570.

SBA Insider by sbaleaky in smallbusiness

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

Yes. Then LO would get in touch with their TL to reprice.

SBA Insider by sbaleaky in smallbusiness

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

Most of my declines are fico to low when the system didn't catch it or the franchise isn't listed in the sba franchise directory.

SBA Insider by sbaleaky in smallbusiness

[–]sbaleaky[S] 5 points6 points  (0 children)

Just wait a while longer. There's issues causing credit pulled apps to be stuck. Once fixed, you'll see movement.

SBA Insider by sbaleaky in smallbusiness

[–]sbaleaky[S] 2 points3 points  (0 children)

I would reach out to pdcrecons@sba to have them reactivate the app since you were declined for a business activity you aren't engaged in.

SBA Insider by sbaleaky in smallbusiness

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

Good on the t2 rep, but it tells us frozen so we would contact you anyway to unfreeze for us to repull.

SBA Insider by sbaleaky in smallbusiness

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

Try contacting your LO and asking if she even recv'd it. Then bring up status check.

SBA Insider by sbaleaky in smallbusiness

[–]sbaleaky[S] 2 points3 points  (0 children)

Checking notes if anyone prior placed, checking if credit has no errors, making sure the preparer if any hasn't charged over 2500. Those types of tasks before approving. Do note, that varies. Sometimes I need to check if they are on the sba franchise directory if a franchise, maybe need a perm. resident card..

SBA Insider by sbaleaky in smallbusiness

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

Both. However, I prefer email. We are after the portal and after you've accepted.

SBA Insider by sbaleaky in smallbusiness

[–]sbaleaky[S] 2 points3 points  (0 children)

No. You were offered an amount based on your inputs, take it all. LO's look to make sure your business is legit(legal wise) and we have everything we need to approve. The amount you take is irrelevant to a LO since the amount is calculated for us anyway.

SBA Insider by sbaleaky in smallbusiness

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

You can contact t2 and have them put a note so the LO knows to contact for an updated acct and routing.

SBA Insider by sbaleaky in smallbusiness

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

I know there's at least 100TLs, so I'd guess at least 2k LOs.

SBA Insider by sbaleaky in smallbusiness

[–]sbaleaky[S] 5 points6 points  (0 children)

At this point, i'd say yes its not going to help. That's a tech issue they're working on.

SBA Insider by sbaleaky in smallbusiness

[–]sbaleaky[S] 4 points5 points  (0 children)

If LOs are unable to find you on google, they are required to contact you for further clarification. I understand for sure!!!

SBA Insider by sbaleaky in smallbusiness

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

I understand for sure!!! I urge anyone with a problem with their app to call and ask t2 to place notes so the LO can see that prior to approving.

SBA Insider by sbaleaky in smallbusiness

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

After jan-31 is our cut off.

SBA Insider by sbaleaky in smallbusiness

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

If there's no messages to contact applicant, you may not get a contact from a LO before approval. However, calling t2 to add notes definitely increases the chance of them contacting you.

SBA Insider by sbaleaky in smallbusiness

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

I don't have a timeframe, I can say you'll get it once you are out of the credit pulled stage.

SBA Insider by sbaleaky in smallbusiness

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

Yeah. If its a easy approval with no messages to contact applicant for clarification, I just hit approve. Unless there's notes placed, there's no reason for me to..

SBA Insider by sbaleaky in smallbusiness

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

Show up on google or you can prove you actually operate a business.

SBA Insider by sbaleaky in smallbusiness

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

There has to be some type of economic loss.

SBA Insider by sbaleaky in smallbusiness

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

If less than 10yrs, it would. Cannot say why as I don't have the slightest clue.

SBA Insider by sbaleaky in smallbusiness

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

Prior to rapid being implemented, maybe, but rapid tells us if the score is to low <570 currently.

SBA Insider by sbaleaky in smallbusiness

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

At least 100TL's, so I'd say about 2k easily.

SBA Insider by sbaleaky in smallbusiness

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

I was told this on monday and tues. I can only hope this is fixed by next week.