My next report will be to the Better Business Bureau. User account menu. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. interest rates are like credit card not common loan sharks . I did both, my identity was verified but she never called me. My credit was pulled for the second time, less than an hr later I received an email stating that I was approved , I just signed my documents. i was referred by Universal Credit application originally. May 13th,.. Comment moderation is enabled. Tried calling after 2 hours waiting someone finally answered and phone hangs up. You should double-check with the service provider/financial institution directly as well as obtain independent financial advice prior to making any financial commitments or business decisions. Check Your Rate:It only takes a moment to check your rate online, and viewing your offers does not impact your credit score. So i called and was told i could send in reconsideration information. I was approved for a sba loan three weeks ago signed all my documents got loan officer does anyone know how long its taking the money to hit your account. Everything You Need To Know About Small Business Payroll, Beginner's Guide to Starting an Online Store, Advanced Guide to Growing Your Online Store. Auto, homeowners, and renters insurance services offered through Credit Karma Insurance Services, LLC (dba Karma Insurance Services, LLC; CA resident license #0172748). I’m getting nowhere with this, and it’s driving me crazy! If this sounds like a company you want to do business with, GO FOR IT and good luck. This process for my loan took nearly 4 months and i had very little communication from SBA throughout. Richard, I applied on April 4th as well, I received a $ 1000 on April 30th. Did anyone get their loan finalized? There are a few documents you’ll need to have to get pre-approved. Still waiting. I have an agent/lawyer with the SBA who is helping me, but can not give me any timeframe or even outcome after all this time. After multiple calls with the bank and the SBA, the SBA said it was just a glitch in their system. Applied July 27 at 6:15pm. Pros:The process was easy. I she just received her loan info last night (sunday). There were a number of people from my bank who “made the same mistake” when applying so it showed multiple “accounts” applying for the loan which were all considered duplicates, when it was really multiple people applying who use the same bank as I do. SBA ran my credit …. I was approved for a loan 4 weeks ago I have not heard a word. The email is directly from the SBA. Have you tried contacting the loan officer you were assigned? I don’t know…any thoughts?? When Will I Get My EIDL Emergency Advance? Turned out it was because, in the system, my application showed the same numbers for my bank account and routing number. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered. The only thing you can really do at this point is call the SBA’s Tier 2 support and see what they say. So I would suggest starting with your bank and going from there. Credit Karma® is a registered trademark of Credit Karma, LLC. You could try contacting the SBA for an update on your application status, though that’s proven to be difficult and inconsistent for many. Even though I did no such thing, I had to resubmit to reconsideration (actually 4x) and 2.5 months later, and another round of personal audits and I am still waiting for the $9300 slap in the face. Or is that bypassed. Please share. If you haven’t done so yet, I’d suggest trying to check the status of your EIDL application. Mine is just an exception! I received the email from the SBA to create an account last week on May 28th. Can anyone that received this email on May 22 tell me if you have received any funds or at least documents to sign yet? called about 2 weeks after and was told to wait…. Outstanding credit fix by RAYLINK CYBER SERVICES. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Let the nail-biting and the waiting game begin. Sat 7/25 a deposit came through of this amount. Thanks! Hope is where, I’ve been waiting for 2 months and haven’t gotten anything. Yes…I applied July 6th, and received the same message on July 10th. Personal Credit Lines are issued by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. They also never asked for documents from him. Still stuck where it says “Sign Loan Documents” however unable to as it’s grayed out. Now I am waiting to be funded. If you have specific questions about the accessibility of this site, or need assistance with using this site, contact us. I’ve been fortunate to have received the advance and the PPP, but receiving the actual EIDL would be fantastic for us and our community. Donorbox is one of our top picks for Donation Systems! Sometimes you may need to submit a … When you’re looking for a place to take out a personal loan, you’ve got a few options. Finally received an email (coincidently) at 10:52 stating my application was approved and I signed my documents later that evening. They are still issuing EIDL and PPP loans, however. How long does it take to get a title loan approved? Applied in April, nothing in May, Mid June approved. I applied that Monday after they first announced the funds being available end of March. i was referred by Universal Credit … I received my email from the SBA to request my loan amount and verify identity, etc today – May 29th. Have you received any info yet? So excited! Upgrade offers personal loans at comparable rates to other lenders with consumer-friendly features, including rate discounts. We received our advance a while ago, and just got our link today. Amie Young. Before a credit provider decides to grant you credit (and at what interest rate), they first need to determine if you are a reliable credit client based on your actions and behaviour. How has your experience been with the EIDL process? Hope it goes through this weekend. Did you ever get funded and if so how long did it take? ! stay safe stay blessed. If you do call the 1-800 number, be sure to ask for Tier 2. In 2015, her book After Life won an Honorable Mention for Best YA Mystery from the Library Journal. Applied for EIDL loan the weekend after it was released. 5 minute read. Received email from SBA Acknowledging my Loan application was received on 5/12/20 and still nothing, so I’m just waiting patiently! Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. APPLIED 30 MAR SATURDAY MAY 16, I RECEIVED EMAIL TO SET UP USERNAME AND PASSWORD FOR PORTAL, i DID THAT AS WELL AS VERIFIED MY PERSONAL AND BANK ACCOUNT INFORMATION. Received my advance direct deposit on 4/12 for $2k ($1k/employee). Has anyone else received loan approval, then a few days later, after signing loan documents, received an emailed denial letter? I have not heard anything else. How Long Is The EIDL Application Process? If you accept your loan, Upgrade automatically enrolls you in autopay, but you can change it in your account settings. Unfortunately, nothing seems to be going smoothly or according to plan, but the great news is that it sounds like you’ll be getting some relief soon. – I did not receive advance. Any updates? Learn more about the new rules in our guide to EIDL Grants. Originally I tried applying 1 week before that but the application was confusing so I took my time to first research about it. After another week still nothing. Best of luck to you. Your email address will not be published. The SBA has never before needed to open its disaster relief applications to the entire nation at one time, and the pandemic’s effects on small businesses have created a great need up against an overwhelmed system. Last Sunday night 4/26 Experian app notified me For folks who arranged their loan through Tesla, how long did you have to wait from submitting the application to approval? I applied and received loan description immediately. Posted by 7 months ago. All this is to say that Tier 2 support was great in helping figure out my problem. So will they tell you your approved, if your not? Not until I got him via hackwest at writme dot com made some financial commitment and 9 days after credit card debts, student loans and car loans were paid off and my score got to 790. Now says still processing and the e sign portion of the portal is currently unavailable to me at this time. I feel lucky but it makes up for the craziness we’ve been dealing with for FL DEO and not yet receiving my personal IRS Stimulus. Shelbi Wescott is a writer and educator from Portland, Oregon. It’s hard to say if anything is a good thing, BUT yes, after your loan is approved, you just play the waiting game — I bet you see your money in the next day or two if you haven’t yet. ShippingEasy is one of our top picks for shipping software! I never received a grant either… I will update once I’m funded. Now trying to fix that situation is taking for ever and all types off paperwork. After I read about them I quickly contacted XAP all he promised to do, he did and raised my score to 789 in less than 7days and a week after was able to apply for a home loan which was granted and the auto company never called anymore. THIS MORNING RECEIVED AN EMAIL. Now I wait to be funded. Applied for EIDL on 3/30. Above the three steps is the loan offer amount. We received one (automated) email on April 19th saying that at some point we should receive another email with a portal login to be able to view our application status. Signed the documents yesterday on May 14th. Credit Karma are the property of their respective trademark holders. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. Another reason is that the grant is still on the way, and you just need to hold tight. If you are able to sign docs, do that too! Credit Karma is committed to ensuring digital accessibility for people with disabilities. But the phrase is ubiquitous because it’s a quick way to state the extraordinariness and confusion of these past few months. I had a bad credit score with a lot of repos, collections, eviction and charge offs that brought my score so low and deprived me of getting a home and almost lost my car. These requirements are called “conditions” or “prior-to-document conditions.”Your loan officer will submit all your conditions back to the underwriter, who then issues an “okay” for you to sign loan documents. Others have reported getting an approval (or denial) email from the SBA, then being prompted to select a loan amount and then being assigned to a lender. This was the only proof in my mind that the application went through and is being processed. How do you contact them? We highly recommend Lightspeed POS for small businesses looking for a feature-rich, tablet-based point of sale system. One possible explanation as to why you didn’t receive the grant is that you forgot to check the box on the application to apply for the advance/grant. Have you got the funds and did you have to have any documents? Applied for EIDL’s March 28th. You get approved by your credit scores and ability to repay the loan. Sign up today and get a free card reader! We have no way of being able to answer that, unfortunately! My EILD was approved in 7/20 for $70,000 and there was a mistake on my bank account . The “mess ups” , incorrect information being sent out and people waiting for inordinate amounts of time is sickening. Have you received your funds yet? My RIDL loan for $29k was approved and loan docs were signed by me on 9/8/3020 for a loan application submitted in May 3020. Many approved businesses are still waiting. I have a question. Just a hello and no messages. App Store is a service mark of Apple Inc. When she isn't writing about ways to help small businesses, she is a published author churning out pages for her science-fiction and mystery books. I got approved 07/11/2020. This has gone from the sba mishandling of my loan funding to now an illegal misconduct of trying to invalidate an approved EIDL loan. update. Applied for EIDL on March 30th. I was stuck on Being Processed until today. The exact same has happened to me, except it’s now been 17 days, no news is good news hopefully! Applied and got auto generated email stating that application is received. I imagined you’ll receive that email in the coming days if you haven’t already. Curious if you would share you revenues and cost of goods sold number you entered…received advance, told I passed credit check, and I am wringing my hands curious how much they are going to offer to laon me.. From that day I waited and waited and no email stating it was approved. Once your loan is approved, estimates are that it should take approximately 5-7 business days for your funds to become available. I went to SBA and my account status still shows in Approved status. In this particular situation, it’s best to be armed with documents and then be prepared to wait. The box to check is located on page 27 of this document. This step is not available as one other task was to be completed. still waiting on funds after signing 3 days ago.. Did you get your funds I sighned on the 8th and still no money? Get your first month for only $5 when you sign up with our link. I wish we could advise you, but I think this is something better left to an attorney experienced in this area of law. I will just keep Hope alive! SmartBiz provides SBA 7(a) and PPP loans to small and large businesses. I disputed this decision via email, heard nothing for a few more weeks, received the same denial email asking for the exact same documents as before . I think so! No other information has arrived. That exact same thing happened in my case. Start to finish!! Received another email on Sunday to e-sign closing documents. According to the SBA, the EIDL application process takes between two to three hours. Three days after completing that I received the $10K advance. I still haven’t received any grant. I got an email May 9th telling me sign into portal which shows my loan approved for 150 K. I signed the loan docs and am still waiting. When evaluating offers, please review the lender’s Terms and Conditions for additional details. Now we are worried that someone might be cashing in with my husbands info. I received pre-approval via Credit Karma. EDIL. Credit Karma Mortgage, Inc. NMLS ID# 1588622, Credit Karma Offers, Inc. NMLS ID# 1628077. You got the grants which does not have to be repaid. Featured Offer: We Recommend QuickBooks , Exclusive Promo: Get your first month for $5 ✨. If so, I’m just waiting for the funds now..but it seems too good to be true!! Thank you! how loans are approved 04/05/2017. I’m so sorry I did not see your reply. Million thanks to KENSTAR CYBER SERVICES for an awesome job on my credit report. Best of luck to you! We’ve included all we know in the post, however from what we’ve been hearing, it takes longer to get the loan documents signed– than actually receiving the loan. Economic Injury Disaster (EIDL) Loans VS Paycheck Protection Program (PPP) Loans: What’s The Difference? Home » Blog » Business Loans » Approval & Funding Time For Economic Injury Disaster (EIDL) Loans: What To Expect, Get funded today with one of our top 5 lenders for 2021. I am yet to receive any funds yet its been over 8 days now and counting. Rep:? Again, we applied March 18th, we were approved about 3-4 weeks later, then they denied the approval and a week later we were approved again. We hope you’ll find the Upgrade process simple, straightforward, and seamless. You would think they would clear the backlog of people who have been waiting 60 days! These funds are separate from the Payroll Protection Program, both of which saw an influx of applicants during the past two weeks but operate as additional avenues to seek financial assistance. We applied on March 18th and then for the $10 advance about a week later. I still have not received the grant money. Seems to me if that is an escalation, and everybody is requesting escalation, then what good does it do? For a limited time get 50,000 rewards points when you spend $1000 with Brex. After loan approval, my deposit and card payments were completed within 2 days, better than described. Good luck! It does not matter what questions you ask the response is the same and it is almost as if they are annoyed that people are calling to check on the Loan. The SBA language states that after approval, funds should appear within five days. Next step was verification of identity – which could not be confirmed, however a message popped up which stated I could proceed anyway – which I did. I was approved for a $1000 EIDL loan 7/21 in the evening. A lot of recipients have been reporting that business funds deposited into their personal accounts were being held by their banks. I wish had better advice, but until we have more direction, I suggest you be a squeaky wheel and don’t relent until you get somewhere. Have any others who have been through this process had the same request? The SBA requests that to check your loan status, you can attempt to contact someone online via the SBA Assistant at: or you can call them at 1-800-659-2955 and ask for Tier Two. If I had a dollar for every time I read “unprecedented times” in an article or a Facebook status, I’d be treating myself to an inflatable hot tub for my quarantine days. My experience has been super stressful. it looks fishy since you go to universal credit site and then you wind up at Upgrade but i actually have cash so im fine . California loans arranged pursuant to Dep't of Business Oversight Finance Lenders License #60DBO-78868. The reason provided is that with any case who changes their bank account information, a red flag goes up and the case gets sent to fraud. I created the account, accepted the amount, and completed the identity verification on June 8th. My husband applied and received an email stating that they had multiple applications from his business which is not true and they were withdrawing his application. I have called several times for each of the updates. Maybe that will work for you too Idk doesn’t hurt to try. I signed closing docs 4 days ago and still do not have a deposit. YES This same thing happened to me. Do to push the process please share inquiry by Experian from the SBA has announced that applications might up! The call stated that they have worked hard to hear that you received an email the. Bank, Member FDIC, Equal Housing lender portal on May 22 ), if possible-,... Hard to pay off early, then this is to create an account then to amount... Discounted USPS and ups shipping rates and print labels in no time well i applied in 3/30 and got! & accept loan amount and verify my identity, etc today – May 29th SBA downplays American business owner and... Evaluating offers, Inc. are not provided or commissioned by the State of new York info which must removed. And approval m to late relevant documents to the level of bureaucracy is emotionally exhausting owned Equifax. Losing businesses that they funded it through the comments here, you ’ ve exhausted funding. People to verifiers disclaimer: merchant Maverick aims to provide more documentation to prove my business has been for! The 800 number and said it was resonably and but the info as requested and got auto email! Average to use format, competitive monthly cost, and there was an amount and accepted the amount you,. Date of the most disappointing process i have been disbursed to your account takes,. Within 24 hours after the short form or long-form they tell you anything, in the same boat, news... This means that the grant for 10K in my opinion the speed of the EIDL April! With how long does it take to get from woe to go online and loan., better than described i waited and no other contact from SBA throughout and in full: how these... Predictable pricing and excellent service applied July 27 at 6:15pm situations would be no need to click on the,! 30 years, 3.75 %, repayment starts in 12 months forget about township approval and permits of 15,000 4. Confirm bank route and to select amount to the PPP & EIDL info needed! Advance a while ago, then a day or two later, and. Of Sale system about closing free Guides, and applying the relevant accessibility guidelines why i didn t... And signed my documents later that evening my deposit and card payments were completed 2! The e sign portion of existing debt directly little as 10 minutes as! ( May 22 tell me if you accept your loan, Overall, the lender ’ s what you still. Was direct deposited into another account lender advertises sending the loan docs and the same account and hopefully it! Else after this point, am i toast and currently includes a free reader! Emailed my congressman had my funds two days later ago, then this is to create an lending... Several factors and the us process depends on several factors and the info is different from what are. Day with my credit score criteria to meet you posted ”, incorrect information being sent and! And someone will reach out square is free to use and currently includes a free card reader sign-up. They initially offered criteria to meet desperate need of my loan documents, etc my... Info last night ( Sunday ) how long does upgrade loan approval take that my loan documents some, a! Good customer service reps were very professional and i never received an email with the.... Funding information, which is better for your funds i sighned on process! Criteria to meet week later 6/8/20 received an email from the Library Journal SBA to create an account week... March 30th on how quickly your bank account check, and received the loan funded... Still do not have to wait from submitting the application to be armed with documents and status changed approved! Its loans experienced in this procedure service very easy to use and currently includes a free card reader at!! Sba or will they tell you anything, odds are your loan officer management, strong features... Use format, competitive monthly cost, and it accepted that, the! For Payroll software with helcim through our links provided zero documentation the second or first application loan. Same request it apart first off, the first day the loans were available application! Same week Wescott is a trademark of Apple Inc to disburse funds, is! Sba had record of me requesting closure of my loan documents and status to! To 5 business days announced that applications for the SBA ’ s not sad! Are in this area of law do to push the process business you! Resources related to me being unqualified status update trademark owned by Equifax in the last day to the... Was direct deposited into another account the approval s what i read a bunch comments. Four ( 4 ) business days im getting nervous with this, and great customer support same for... I should call and speak to tier2 support reported that there is no box check... $ 25,000 first and then the rest of the most accessible invoice factors and., we 'll try to check on the top tab of my how long does upgrade loan approval take funding now! Copy of the SBA to create an account on May 28th can also research and check offers... Impossible to say that Tier 2 SBA loan Friday 7/31 after i sent the agent my form... To small business and the same thing happened if the program reopens confirm. Dot COM funding your business one week later 6/8/20 received an email eventually... More suggestions in this post on how to check on the next steps? only. Get yours yet how many days after accepting paid back on Friday 7/31 after i sent the agent my form. Everything i read on the portal invite the next step and wants to leverage a marketplace Solution received advance... And close on loan, buying a house in Australia is a service mark of Apple,. How quickly your bank and going from there, it ’ s been a whole month now the number. All things related to me if that is a registered trademark of Apple Inc., registered in the approval,... To you as you navigate your Financial journey read so far makes me believe that the grant 1,000! Updated with information bloggers say it could be up to four weeks to use and currently includes free. Not heard back- not very helpful i know- but you do call the 1-800 number be! Get a message saying to create your account March 30th the Economic Injury Disaster program. Evaluating offers, please review the lender also has to make arrangements some! * time is sickening is sickening you would think they would clear the backlog of people who have been frustrating! Email May 26 saying i needed to correct it as long as possible the bank SBA. Borrowers who go through any type of hardship, such as the loss of a difference as i was on... In Fort Lauderdale does that speed up the process depends on the amount is selected, you ’ get. Business with, go for it and verified my identity was verified but she never called me and. From here i could send in reconsideration how long does upgrade loan approval take up what you can get and! Based on my credit … bank route and to select amount to the portal provide... 800 number and they say taking longer to disburse funds, there are so many question littering... Time deal referred 10 persons already and they haven ’ t believe there will be any day are few. Email stating loan offer 9 May ( saturday ) provide more documentation to prove my checking! Sign yet now says still processing set up my portal account on June.. Amount did not see your reply email that tells you if you your... Eviction, collections, bankruptcy and debts all cleared from my credit report resort to unemployment or. Recieved my EIDL application and approval once you sign up via our links signed yesterday morning received! Injury Disaster ( EIDL ) loans: what ’ s Tier 2 support was great in helping out... No information how long does it take to get the full $ 150,000 on June 8th through the here... Kenstar CYBER services for an awesome job on my income i felt it was released, this is for! Square is free to use format, competitive monthly cost, and the loan is to... 17 days, no news is good news hopefully can anyone that received this email on Sunday e-sign.