business loan

Sba Reopens Economic Injury Disaster Loan, Eidl Emergency Grants To All Eligible Applicants

sba disaster loan

Sam, I applied on the 4th, and like Tierney commented above, I “obtained an email from SBA May 2 saying your app is being processed and you will be notified by e mail if you standing modifications. I did NOT want a username and password when I applied, so I can’t get something from the SBA portal.” Since the e-mail on May 2, nothing else has occurred. Received an email from SBA May 2 saying your app is being processed and you’ll be notified by e mail when you status adjustments.

I received a $1K deposit to my checking account on TU 5/5/20. I am self-employed and never working as a result of COVID 19. No cash coming in and bills, mortgage working up…I acquired $1k as stated however really want up to that $10K. Will there be only one deposit or will there be different deposits on following up-coming weeks?

Sba Economic Injury Disaster Loans

To which she replied that there’s nothing else to do at this point, that I just need to attend patiently. People that applied after me have already received there funding however they are saying “the purposes are being processed within the order acquired through application number” which is one hundred% false. This is extraordinarily frustrating and there’s zero communication. I’m also a sole proprietor with the same actual dates of making use of and credit score pull and I haven’t obtained anything.

What Are The Interest Rates And Terms For Personal Property Loans And Real Property Loans?

The EIDL is a loan of up to $2M, and applicants can request an advance on that loan of $1k per employee, as much as $10k. This is a grant that does not must be repaid. So, sadly, that $1k advance in your pending loan is the max you will get as your only worker. Hopefully, your EIDL will get accredited and funded quickly although.