As a reminder, one of the more interesting components to the EIDL loan request … June 16, 2020—The Small Business Administration officially reopened the Economic Injury Disaster Loan (EIDL) grant and loan program, reports Forbes. EIDL Approved- My Timeline. Accepted reduced offer of 150k: 5/6. report. I still haven't heard anything . If you’ve received an EIDL grant or loan, here’s how to bookkeep it, from start to finish. I hope my advance reachedy account today . It doesn't appear in any feeds, and anyone with a direct link to it will see a message like this one. They took my Grant that I never received out of my confirmed amount. Everyone is waiting for the SBA to publish guidance on how they will implement the law. 7 days ago. If the client receives additional funds from the SBA, which will require repayment, I will move them over to the "LT Liabilities: SBA Loan" account. In 2020, the EIDL grant was limited at $1,000 per employee up to a maximum of $10,000 per business. I guess it was bank info. 13. Applied on 3/29. Credit pull: 4/13 (once only) Portal received: 5/6. EIDL Round 2 Grant Update It's to my understanding that for round 2, if you qualified for the round 1 grant, they would automatically reach out to those who applied and make them whole by either sending $1k per employee or up to the cap of $10k based on location or decline in revenue. I recently applied for eidl grant. Grant: 4/13. June 15, 2020, 22:15. Press question mark to learn the rest of the keyboard shortcuts. Porsche & BMW Specialists in Sacramento, CA. That gives me a little hope... Do you know if chime account will suffice for the advance deposit. Refinance of EIDL Loans with PPP Loan Proceeds and Lender Remittance of EIDL Refinance Proceeds to SBA. The EIDL will be based on your business income/expenses while the Emergency Grant will be determined by the SBA. Will I get my 1000 grant soon. I filled out the targeted grant application on 02/11/21 (app # 3302...), looking to get the balance of $9K (Received 1K of 10K grant in May 2020). Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. Reconsideration letter … A number of legal issues exist with this. 330496xxxxx. So with the EIDL loans, here’s how we know they’re calculating. And these are just from our experience of looking at the numbers and trying to back into the calculations. The initial $10 billion provided by the CARES Act for these grants was quickly depleted, and as noted earlier, the additional $10 billion authorized by the interim bill just for these grants is now gone. 59 Comments. go ask the youtube guy who had u apply in the first place. 31 Replies to “EIDL $10,000 Grant App is UP!” octaviancincinnatus says: April 1, 2020 at 12:59 am . Report Save. In 2021, eligible businesses that received a grant for less than $10,000 can apply for the difference. how long did it take you to get the email from the time you applied? Even with the new law. by Chuck. July 2020 received $2k grant and loan. Just because you didn't get a grant the first time won't make you eligible to get one now, you have to meet the other criteria. I have chime as well, Ok. Well I already changed it from central bank to stride bank. So if a business received a $2,000 grant with their EIDL, they are eligible to apply for $8,000. 10. David commented that most of the EIDL denials has been for applicants that have a low credit score and for very small businesses. Thank you. Can anyone help me. EIDL $10,000 Grant App is UP! 1. share. Docs signed: 5/8. save. If you have a low credit score, expect your loan to be denied. As of June 15, 2020, the SBA is once again accepting EIDL Advance and loan applications from all eligible borrowers. This program falls under Section 7(b)(2) of the Small Business Act, as amended by the CARES Act, the full text of which is here: It is the link to the COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION (EIDL), as titled when you click on it. level 2 . According to the report, the loan is no longer limited to just agricultural businesses, but an array of eligible small businesses, independent contractors, freelancers, and gig workers, among others. com What is an Emergency EIDL Grant? Said unverifiable info. Approval received: 5/8. received my 1k at the beginning of july – let me know when you get your email! Find out what timeline to expect when you apply for an Economic Injury Disaster Loan. 1. share. You'll have to wait for the SBA to publish specific guidance and process regarding getting funds through the new EIDL grant program, but there are restrictions on who is eligible - you can look those up. Eidl update reddit Eidl update reddit Sorry, this post was deleted by the person who originally posted it. chime has two banks dependinh on routing numbers, must-see full names. I signed and submitted. So I'll have to call and change it again. Thank you. Now just waiting on funding. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. On June 15, 2020, the Small Business Administration (SBA) began once again accepting applications for Economic Injury … What’s the average time frame people are seeing funding in their bank after docs are signed? 2 days ago. I've read reddit threads a couple days ago that people who sent their recon letter on 4/24 have received responses and today someone who sent it on 4/27. share. Application # 3300025xxx. Someone correct me if I’m wrong; No you’re not eligible to get the rest of the grant. Report Save. The $10,000 EIDL grant that businesses and nonprofits can apply for is forgivable and can be used for a wide range of business needs. The EIDL Grant will not become part of any loan unless you accept other funds from the SBA, so I am simply booking the grant directly to the "other income: EIDL Program". For the past month or two, EIDL loan and grant requests were limited to businesses in the agricultural sector. This thread has been locked by the moderators of r/EIDL. It's been a struggle. No invite email yet. I received an email this morning. Today, the Small Business Administration announced the reopening of the program for new applicants across all business sectors, according to CNBC. I already changed it from central bank to stride bank the beginning of july let. I never received out of my confirmed amount of EIDL loans under the CARES ACT got because funds out. The average time frame people are seeing funding in their bank after docs are signed Administration reopened. 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