Eidl advance reddit. I need the actual loan).

Eidl advance reddit Anyone else received this? Are you in a low income community based on the map that SBA released? Even if you are not in the purple shaded area for low-income community, you should still receive the invite for the targeted eidl advance, but maybe not until after everyone in A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. Applicants had to be located in a low-income community, prove more than a 50% economic loss during an eight-week period beginning on March 2, 2020, or later, and had 10 or fewer Once all required documentation has been received, SBA will process your Targeted Economic Injury Disaster Loan (EIDL) Advance application and disburse any approved funds as quickly as possible. EIDL advance received . I’m assuming people that religiously check this Reddit group, do not have those funds available. The first time I called the woman I spoke to stated that she would note my account that I wanted the advance. My advance was the same number of employees I entered on my application. " I applied for EIDL Mar 31, received $1,000 "advance" Apr 22. Trustee recommend discharge and case was concluded The Supplemental Targeted EIDL Advance is a grant that’s available to qualified businesses even if they’ve previously received an EIDL loan, EIDL Advance, or EIDL Targeted Advance. A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. You will not receive an automatic email confirming this submission. According to the "interim final rule" from April 15, 2020: "Proceeds from any advance up to $10,000 on the EIDL loan will be deducted from the loan forgiveness amount on the PPP loan. Valheim; Genshin Impact; Minecraft; Pokimane; EIDL ADVANCE . I was approved for the initial EIDL Advance. Apparently they tried to send me the advance but couldn’t verify my banking info (I must have had a typo. As discussed, the only part of an EIDL loan that can be forgiven is the advance. In this training webinar, however, they listed some of the forms that would be necessary for the EIDL Loan (4506T, etc. Feel very lucky. EIDL Advance App number . Expand user menu Open settings menu. Anyone else who applied early should do the same when they get updated! Related Topics Received EIDL $10,000 Targeted Advance Email I couldn’t believe it but received the invitation to Apply for the difference of the amount I received last Spring and $10,000. We hope the Advance funds will provide some relief in these difficult circumstances. We would like to invite you to update your advance request with corrected information. The only requirement is that you must spend the advance only for expenses listed above. Received advance! 7k applied afternoon 4/3 #33020 Related Topics Business Business, Economics, and Finance comments sorted by Best Top New Controversial Q&A Add a Comment. S. I’m sure I qualify for Supplemental Targeted EIDL Advance $5,000. I was told my business is ineligible because it is a "lending or investment concern," which is not true. I originally applied for the EIDL on 3/31 with an app number in the 360024XXXX Range. Just received paltry $1000 advance. I'm seeing news that the SBA is accepting new EIDL advance applications, but the link on their website doesn't seem to be working (it links to the Coins 0 coins just check my eidl portal and eidl advance said decline,but was able to increase the previous loan Reddit's #1 spot for Pokémon GO™ discoveries and research. I also met the new requirements (300 employees or less, 30% or greater loss in revenue, located in low income community). Use r/TargetedEIDL for advance/grant issues. EIDL Just received my EIDL Advance. The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency. 990 and the EIDL Advance . Last updated March 19, 2025 "We have been informed that the SBA has changed their guidance on the EIDL Emergency Grants. Applied 3/30, application # 3300151XXX. Most small businesses didn’t have enough employees to get much from the PPP program. This is a tool you can use for when the SBA starts depositing funds. Members Online • FortemLupus . " (emphasis added) Therefore, the $1,000 is subtracted from the $7,385 forgiveness amount, and not from the loan amount. Then, below that, are the items for the targeted advance (verify identity, submit 4506, etc. If I am not mistaken, the "EIDL advance" program is no longer available for current loan applicants. Checked portal last night and was “in processing” for Targeted Advance. Get app Get the Reddit app Log In Log in to Reddit. Reconsideration5@sba. Applied on 4//11/2020. We apologize for any delays you may be experiencing and are processing the applications in the order they are received. I can’t for the life of me find a way to share screen shot pics on Reddit mobile IOS. When I called a week later, I spoke to a nasty man at tier 2 that told me I couldn't get the advance and that if I submitted another application , it would be put off to the side to be destroyed. It’s now pretty clear to me that people who signed up directly on the short app (on or after 3/29) will receive their advance deposit before they do loan, whereas people who signed up through long and then short app will get their loan I applied PPP loan, I applied EIDL loan, I got $10,000 EIDL advance. Gaming. In fact a mere 50k would have solved all my woes, I don't We have no late payments but SBA is asking for 2024 Profit and Loss statement. Also got a small PPP a couple weeks ago. Please use the search bar before posting your question for similar Thank you for contacting the Small Business Administration (SBA) and your interest in the Targeted EIDL Advance program. I suspect SBA is overwhelmed but we are dropping like flies while they dither. ). Portal shows it's approved, but I have not gotten an email to that effect. I need the actual loan). We mailed it in almost one year ago and IRS still haven't opened our mails! IRS have over 2. Then, they opened EIDL ADVANCE loans or grants up to $10K. Once you receive the funds, you are free to use them immediately. Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog Careers Press. ) When I went there, there was a button that said Submit. 00 36K subscribers in the EIDL community. kitcarguy • Additional comment actions. A security agreement on your business assets is required if your loan goes over $25,000. from the spring 2020 advance funding. April Eidl loans only total about half the amount of the PPP program at a little over $378 billion. App# 33036xxxxx. The combined amount of the Supplemental Targeted Advance ($5,000) with any previously received EIDL Advance or Targeted EIDL Advance ($10,000) will not exceed $15,000. I wrote to PDC. Decided to check on my targeted EIDL advance today. Check The Appeals Document For Specific Instance. all questions regarding the services offered by Centrelink and is the largest active Australian Social Security sub on Reddit. Applied for PPP Apr 4, received $10,000 May 1. My portal status has been updated to “submitted” for the Targeted Grant. 4 million unopened mails! 4/30/20 Rcvd $7k EIDL advance 6/20/20 Funded 150k for original EIDL loan The COVID-19 Economic Injury Disaster Loan (EIDL) and EIDL Advance programs provided funding to help small businesses recover from the economic impacts of the COVID-19 pandemic. A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for View community ranking In the Top 1% of largest communities on Reddit. Each disbursement is sent with an email before it was deposited and indicated that the funds "DO NOT" have to be repaid. 😆 A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. We are now being told that the $10K advance on the EIDL is an up to $10K advance and that the instructions from the SBA have changed and that business with 1 - 10 employees will only be getting $1,000. Only letter i got was saying the 60 day notice to bring it current. And it seems some people get the grant after "accepting" the loan offer, which is the stage that my clients are just now getting to. This thread is archived Yes late on Reddit but I applied last month and got denied due to non-ag. By law, the SBA is unable to issue new EIDL Advance approvals once all program funds have been obligated. No other communication from the SBA about the EIDL yet. 36K subscribers in the EIDL community. Just the standard emails received no portal invite, no paperwork, nada. Thank you for contacting the U. Any other assistance: Please contact SBA. View community ranking In the Top 1% of largest communities on Reddit. gov and applied for an EIDL application. I have not received any answers from this application. As a reminder, you do not have to be approved for a loan in order to receive the advance. Have not received the portal yet Get the Reddit app Scan this QR code to download the app now. I uploaded the long form on 03/23 and the short form on 04/02. Reply reply Disneypup Filled out the short form on 3/30 and accidentally put 3 employees instead of 4. So on March 30 (I believe) in the middle of all the uncertainty of business closing, I filled out the short form for eidl loan and the advance. I’m on the phone so can’t provide a source, but I am treating the PPP the same, except that the amount of the EIDL will decrease the amount forgiven, so am telling the clients not to touch that extra money. Application number was 36000203XX. Applied 07/02 credit check 07/06 Application # 330808xxxx when do you guys think will I get my advance? 🙏 r/EIDL A chip A close button. EIDL $1,000 advance just received Just received $1,000 EIDL advance — deposited today — 1 employee (me) independent contractor with $147,000 in gross revenue and zero cost of goods sold. I cannot find any guidance what so ever on how to treat this on the 990 tax filing I got a response email today stating there’re about to finalize an update to their system that’ll allow them to reissue eidl advance funds returned by banks. I applied RRF early on May 2021, but still waiting, don’t know what going on. Your EIDL loan application has been processed separately. I'm going to preface this by saying NOBODY has gotten their money yet. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. A personal guarantee on the loan is required if the amount is over $200,000. It's right at two weeks and like most of you I am An EIDL is for businesses that don’t have any physical damage from COVID-19 but have experienced financial losses. Posted by u/jxcody1106 - 1 vote and 10 comments Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. I got $1K of $10K. Targeted EIDL Advance COVID-19 Targeted EIDL Advance was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. No evidence that anyone has received funding as noted above the "Targeted Advance-submitted" comment with EIDL Advance Approved. —An applicant shall not be required to repay any amounts of an advance provided under this subsection, even if subsequently denied a loan under section 7(b)(2) of the Small Business Act (15 U. I'm not sure what to believe. COVID-19 Targeted EIDL Advance Application Submitted Please use this SBA application number 36002XXXXX as a reference. Credit pull on 04/11. Nope- mine was charged off before default ( just late). The advance portion of the loan originally was based on the number of employees in your business: $1,000 per EIDL Increase Serenity - A big thanks to all that have beaten the bushes, made calls and shared experiences with their EIDL increase requests. And not because of the SBA system bugs that were preventing the automatic advance deposit. Got the generic email on Monday and still no Advance Deposit or Portal invite, so I called the SBA at (916) 735-1500‬ and asked for the "Public Information Office". I waited about 30 seconds for a rep to pick up an I was told that in 2 to 3 weeks if I was approved for the loan I would get a $10000 advance , my employee count didn't matter. They forwarded me to my rep who confirmed the following: EIDL Advance I decided to call the SBA just to see what response they would give me about the advance. EIDL Forgiveness: No Application Needed. ($40K is the loss does not factor the EIDL advance). agricultural businesses. The IRS is experiencing significant and extended delays in processing - everything. No credit check or email aside from the generic one on 4/13. Was only told it was charged off over the phone- locked out online portal and they couldn’t fix or help in anyway. r/EIDL: A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL Thousands of frauds funded the advance, while thousands of legitimate ICs, SPs and, small biz owners are left screwed. I'd wager that less than 5% of all applicants still waiting for an advance, has received this email you're speaking of. Early on May, I received email from SBA to invitation apply Supplemental Targeted Advance $5,000. Process and funding on the EIDL advance is very different from the loan increase/modification. I received an email on 6/24 saying: "We are reaching out in regards to your request for an EIDL advance as part of application number xxxxxxxx. reReddit: Top posts of June 14, 2020. From my knowledge this email only goes out to applicants who didn't get their advance on very specific grounds. EIDL targeted advance . I applied for a business EIDL Advance of 10,000 when I learned recently the SBA re-opened for new EIDL applications. I received my EIDL advance in April 2020, and my loan application for EIDL was declined - I did not prepare some docs on time We are pleased that we were able to give you an EIDL Advance under this program even though we are unable to make you a loan. At the top is my completed SBA loan. I'm concerned about this as well as we received the first EIDL advance and the EIDL loan directly into our bank account without any issue, but it's technically a personal account that is only used for the business with the three partners named on it. EIDL Advance . Anyone know how long that takes? Reddit comments are not legal advice and do not replace consulting a qualified, licensed immigration professional. When I click on the link in the email, I get to a login screen. On May 31, 2023, Reddit announced they were raising the price to make calls to their API Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. EIDL advance vs loan deposit . The Silph Road is a grassroots network of trainers whose communities span the globe and hosts resources to help trainers learn about the game, find communities, and hold in-person SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on June 15 to qualified small businesses and U. If a nickel of this advance is spent incorrectly, the I didn't get my advance due to bank rejecting my business name. Checks out since I have 2 employees total so they hooked me up. POST HERE IF YOURE A PRE 7/09 APPLICANT, and you end up Getting the advance as promised within 3 days would have gotten me to the PPP, and I'm in no danger of losing staff for 8 weeks. OMG! It's so opaque! The draft Loan Forgiveness Application (OMB Control No 3245-0407) that recently started kicking around online asks about the "EIDL ADVANCE Amount" and the "EIDL Application Number. gov then received this: As of July 11, 2020, SBA stopped processing EIDL Advance requests, because program funds have been fully allocated. and International, Federal, State, or local. Or check it out in the app stores     TOPICS. Important note: Thank you for submitting your request for a COVID-19 Targeted EIDL Advance. You do mean funded in the EIDL advance at the bottom correct? Because the rest of us are waiting in the loan at the very top where yours says $104,300. The Targeted EIDL Advance came first and then the Supplemental Targeted Advance came the next day. This leaves a forgiveness amount of $6,385 A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. The "Targeted Advance" is available through invitation only and was created to provide funds to earlier EIDL applicants who were originally eligible for the full 10K advance (grant) but never received it because the SBA didn't follow the law. There were two types of COVID-19 EIDL funding: COVID-19 EIDL loan funds were to be used for working capital and other normal operating expenses. Sba EIDL advance/grant reconsideration email. As part of the EIDL an advance of up to $10,000 is available for those who apply for the EIDL. SBA Lending Portal. Business Type: LLC/File as SCorp Number of Employees: 1 Experian Credit Pull #2: 4/9 EIDL Advance Deposit: 4/10 (at 3am EST) Deposit Amount: 1K Deposit Description: SBAD TREAS 310 MISC PAY 041020 EIDLADV:3300 Hope this helps! Related Just from perusing Reddit, it looks like others were approved for grants at a much higher rate than my clients. On March 31, I applied for the EIDL and Advance. EIDL Advance Deposited into Account . Has anyone with app #3306 got an invite and received the grant funding? This thread is archived I did the same thing. Are we supposed to be running at a profit or a loss to get approved? Our small P&L is kind of The Targeted EIDL Advance provided funds of up to $10,000 to applicants who were in a low-income community, could demonstrate more than 30% reduction in revenue Sole proprietor business $420k eidl, total debt. UPDATE: The NATION-WIDE SBA Has Called EIDL Advance A $10k Advance, NOT An "Up To $10k" Advance. Terms & Policies Go to EIDL r/EIDL • by Existing-Potential68. At least the amount of the grant is consistent for everyone: the CARES Act authorizes grants up to 18 votes, 54 comments. Then, below it is my EIDL advance from last year. Please select from the following: View community ranking In the Top 1% of largest communities on Reddit. I applied and got approved a few weeks ago. Received email on 2/6, app # 36000, received 6,000$ grant in April, EIDL in May. EIDL advance received today; applied 3/30 . Got my advance for 3k should I call in and tell them? View community ranking In the Top 1% of largest communities on Reddit. First time posting here but I’ve been watching the threads! Been in the same waiting game as most of you, Completed targeted advance application 2/5, received "Thus, the Covid EIDL program is more critical now than it was before, because of the lack of resources available through these other programs and because of the continuing economic instability," the SBA said in the interim final rule. Best of luck to everyone. 636(b)(2)). The SBA guidance as of late has said that the $10,000 EIDL Advance will be distributed upon a "successful application" -- which comes after a loan officer contacts you. The distributions are all in excess of basis and now you have $50k of capital gains to declare on your 1040. CREDIT FOR SBAD TREAS 310 MISC PAY CO REF- EIDLADV:3300151 $1000. This Advance may be available even if your EIDL application was declined or is still pending, and "Targeted Advance-Submitted" appears to be as far as anyone had gotten. The SBA noted that its EIDL program was set to expire at the end of 2021 — leaving it just a few months. Next week they should make it to 4/5 I've seen other people explain that it was originally intended to be an "advance" of the EIDL loan so therefore it falls under the spending rules of the loan. After logging in, it shows me my account. The application asked if I had received an SBA Economic Injury Disaster Loan between January 31, 2020 and April 3, 2020, to which I My advance came 2 days after the credit check, but people I know who had credit checks the same day or the day after didn’t receive anything. Posted by u/twinwatershealing - 5 votes and 6 comments I was recently denied for the Targeted EIDL Advance. This thread is archived New comments cannot be posted and votes cannot be cast comments sorted by Best Top New Controversial Q&A libramistress60 • Reddit . Annoying but I didn’t really need the advance as 10k doesn’t do much. My SBA Economic Impact Disaster Loan (EIDL) Targeted Advance was offset and intercepted for a state debt. C. Please print or write your application number down for your records. The same thing has happened to a couple of my clients so far - received the EIDL “grant” after submitting or receiving the PPP loan. . The bigger small businesses walked away with a lot forgiven while the smaller small businesses had to go the EIDL loan route where there is no discussion of Posted by u/throwaway6546879846 - 3 votes and 8 comments COVID-19 EIDL Assistance: Please contact COVID-19 EIDL Customer Service at 833-853-5638 (TTY:711), Targeted EIDL Advance Assistance: Please email TargetedAdvance@sba. $650k I just filed Chapter 7 in August and concluded the 341 meeting last week. On April 21, I received a $1,000 EIDL Advance. My application number for the EIDL loan is 3300026xxx. I have a client who got an $10,000 EIDL advance. Applied the first few days of April. reReddit: Top posts of February 4, 2021. If you choose to continue using your current browser and version you may not be able to access all the available features. Small Business Administration Customer Service Center regarding assistance related to the Coronavirus (COVID-19) Pandemic. When this all started, I went to SBA. The loan officer indicated that the funds do not have to be paid back. They sent me an email today saying my application is being processed. The CARES Act modified the EIDL, making it easier for So dear Reddit r/EIDL Megathread readers: if you're in same situation as mine, call SBA and let them hear our voices/concerns. This would include single member LLC's. Reddit . gov for help with Targeted EIDL Advance. Got $2k EIDL advance deposited into my account last week. On April 23, I applied for a PPP loan through Square Capital. We were unable to successfully verify and validate all of your information in order to process your advance. but nothing was changed under law to make them forgivable or granted in any way except for the original Advance Grants (issued based on employee number), and then the Targeted and I closed my IA business account in Oct of 2020 and unfortunately, this is the account that is attached to my Targeted Advance EIDL loan. A source for information on applying for LOANS from the SBA's Covid-19 EIDL Posted by u/Sea-Mathematician267 - 5 votes and 10 comments Text from the law: (5) REPAYMENT. There is no formal application process for EIDL advance forgiveness. Posted by u/onetime7706 - 2 votes and 17 comments View community ranking In the Top 1% of largest communities on Reddit. Posted by u/werkhardplayhard11 - No votes and 3 comments A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. Going to be updating here whenever I’m contacted about my application. Please be advised that if you are seeking to apply for the Targeted EIDL Advance, you must wait until you receive a direct email invite from the SBA. So the LO said that my application won't be likely to get approved since the business name and bank account were changed since my original SBA application in May of 2020. I couldn’t create my account online so I had to fill all the paper forms and sent it to them. Qualifying businesses can receive The EIDL advance. On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). mvecxq tbyb vld uslisba gknbb wvyc bruon wgjde wvq yirddj xylvyr dzdxi erua acldoxz wzd