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I received mine (PPP) as well on 5/8/2020 deposited into my bank account. I applied for it on April 10th.
My biggest issue is that the 8 weeks of PPP won't even begin to cover the losses as being in the state of Washington I can't even see a light at the end of the tunnel for most small businesses to start back.
Has anyone received an update or received the EDIL loan. I have an updated email from the SBA. My application number is 3600218198. I applied for it I believe around April 10th.
Karen
There are threads on Reddit relating specifically to the EIDL loans and people are posting app #'s and dates when given a portal and when funded. Right now it looks like they are up to 3/31 apps, mine is 4/2 and who knows, it may take a month to get to my group because the volume of businesses that applied.
There are threads on Reddit relating specifically to the EIDL loans and people are posting app #'s and dates when given a portal and when funded. Right now it looks like they are up to 3/31 apps, mine is 4/2 and who knows, it may take a month to get to my group because the volume of businesses that applied.
Best of luck to you.
Today I received an email to create an account on the SBA portal for the EIDL. I logged in and it requested that I verified my identity and confirmed the amount of the loan. It accepted it and now it says "Application processing".
My application number is 3600...which I applied for around 4/10.
My best to you as well...such a hard process with an unimaginable amount of patience required.
Today I received an email to create an account on the SBA portal for the EIDL. I logged in and it requested that I verified my identity and confirmed the amount of the loan. It accepted it and now it says "Application processing".
My application number is 3600...which I applied for around 4/10.
My best to you as well...such a hard process with an unimaginable amount of patience required.
Very good! From what people are guessing, the 3600 apps are west coast and 3300 are east coast offices.
On May 21st I received two emails fro the SBA dated APRIL 28TH denying both loan applications. The letter says we did not sustain enough economic hardship. One business has been completely shut down since March 16th and is tied into phase 4 opening of NYC. My other business has sustained a 40% decline in revenue since this began. Why these letters are dated Apri 28th is beyond me. I have been waiting in vain for almost a month continuously bleeding cash.
On May 21st I received two emails fro the SBA dated APRIL 28TH denying both loan applications. The letter says we did not sustain enough economic hardship. One business has been completely shut down since March 16th and is tied into phase 4 opening of NYC. My other business has sustained a 40% decline in revenue since this began. Why these letters are dated Apri 28th is beyond me. I have been waiting in vain for almost a month continuously bleeding cash.
I am sorry this is happening to you. I know you can appeal this and I certainly would.
I received my SBA EDIL loan docs to sign this morning of which I just did. I accepted the loan which is just over 100k.
If I knew my business would be back to normal in a few months I am not sure I would have accepted the loan, but since I don't I felt that it was necessary to move forward on securing the loan.
So, for those of you still waiting I want to give you some hope that the SBA loan did come through for me. Now, hopefully I will see those funds deposited into my bank account in the near future.
Got my ppp loan. Seems like the online lending sites are way quicker than the standard large banks and regional banks. My PPP got approved and paid within 1 week of applying, which was early May. I had to apply super late because I wasn't done calculating my 2019 business tax return information.
I live and own a sole proprietorship in Small Town WY. I am the only employee. Went to the bank my business account is tied to and they said they could not help me, and to apply online via the SBA site (even though I had already told them I did not have a secure internet line and did not do important business - banking, bill paying, credit card purchasing etc online).
Went to a second bank where I had a personal account. Had to open a business account with that bank in order to apply for the PPP. Applied on the Monday and received money in the account on Thursday of the same week. Lobby to the bank was completely closed so did everything via multiple phone calls and multiple trips through the bank drive-thru.
It will pay one months rent and provide one months salary to me. I'll take it. In the meantime, my business recently reopened and is (thankfully) picking up where it left off. I was afraid that all of my customers would move on during the time we were closed. Realize now that (at least in my area) nobody moved on - everyone just put their lives on hold.
IIt will pay one months rent and provide one months salary to me. I'll take it. In the meantime, my business recently reopened and is (thankfully) picking up where it left off. I was afraid that all of my customers would move on during the time we were closed. Realize now that (at least in my area) nobody moved on - everyone just put their lives on hold.
PPP was flawed but valuable. I suspect the bolded is largely true.
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