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Have you logged into your old SBA Economic Injury Disaster Loan Portal Account ( https://covid19relief1.sba.gov/) after sending your email increase request? Let everyone know when you sent your email request and when you noticed that your "status" changed from "Funds have been disbursed to your account" to "Loan Modification in Process".. If you applied for SBA EIDL increase, but you're stuck in status "Your loan modification is being processed" and not getting any updates, then watch this video to find out more details about this. · 6 mo. ago Loan modification being processed is not an approval. It means that you’re waiting for your documentation to be reviewed, and it’s likely that your LO will reach out to you for more documentation before making the initial approval or denial. 2 level 1 · 6 mo. ago. Remember the four key virtues of Economic Injury Disaster Loans. They are: long-term (30 years); low-interest (3.75% APR); fixed-rate; unsecured (for amounts up to $25,000, and secured only by business assets after that). Let me be frank: I would borrow an unlimited amount of money on those terms. If you've received an Economic Injury Disaster Loan (EIDL) from the Small Business Administration, chances are you may be eligible for more money. The SBA lifted the cap on EIDL loans up to $2. Apr 02, 2022 · On Friday, the SBA sent an email stating that all COVID-19 EIDL loan funds are expected to be exhausted within the next two weeks, by mid-April 2022. All SBA EIDL loan increase requests ....

Been in “Your loan modification is being processed” limbo for two months. I did email SBA a few weeks back to insure they had everything they needed from me (I was pretty certain they did). They said yes but they were processing “in the order received.” Frustrating. 3 level 2 Op · 11 mo. ago I actually got in contact with my Congressman.. It now says "your loan modification is now being processed"! I did talk to someone last week from the SBA who called asking for my business insurance policy. This was unrelated to this, but I took the opportunity to ask about the the new loan. She said she didn't have access to any of that, but could see that they had requested my tax transcripts. Jun 04, 2020 · Initially, the Advance was for $10,000, paid within 36 hours. In reality, distributing the Advance took much longer – weeks in most cases – and the amount depended on employees. Instead of paying a flat $10,000, the SBA paid out $1,000 per employee, with owners counting as employees. If you applied for the EIDL you likely checked the box .... The EIDL is a program run directly by SBA, unlike the PPP which had small businesses seeking grants through third party banks. The processing demands of EIDL therefore have to be much greater and it seems to show on the processing times. Ultimate SEO LLC was a recipient of an EIDL loan in 2020 and applied for the increase when it was first announced,. Get all the information related to Sba Application Status Login - Make website login easier than ever. Get all the information related to Sba Application Status Login - Make website login easier than ever.

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