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10-31-2021, 01:35 PM #1
EIDL Disaster Relief Loan update from SBA
This loan program expires December 31st of this year.
However, the loan must have a SBA approval by that date.
Therefore submissions in December probably won't get funded.
Just FYI I'd get them in ASAP this month.
BTW if any of you or your clients need help with the initial or second round/extra funding let me know.
SBA 800-659-2955 open 7 days a week.....
Dear SBA Borrower:
We received your request to increase your COVID-19 Economic Injury Disaster Loan (EIDL). To continue processing your request, please complete the following steps:
Log into your SBA loan portal account at: https://covid19relief1.sba.gov/
After you log into your account, click on the button that reads “Request More Funds”
The “Request More Funds” button will only be visible if your current loan amount is not already at the maximum loan limit
Next, you will be asked to disclose if any changes have occurred since the original EIDL application was submitted, such as any owners of 20% or more of the applicant business being currently involved in a bankruptcy
You also will be asked which form was used for the applicant business’s most recent tax return, such as Form 1040 (Schedule C, E or F), 1065 (Partnership), 1120S (S Corporation), or 1120 (C Corporation)
Next, you will use the slider bar to select a new increased loan amount
You may be required to electronically sign an IRS Form 4506-T allowing the SBA to obtain tax transcripts directly from the IRS
Once these steps are completed, you can submit the loan increase for processing
Note: If you are unable to log into your SBA loan portal, please use the Forgot Password feature. If you continue to experience issues logging into your portal account, please contact our customer service team at DisasterCustomerService@sba.gov.
We will continue to process increase requests in the order they are received. Due to the high volume of incoming requests, it may be several weeks before you receive a response from SBA on the final steps. If you have any questions regarding the COVID-19 EIDL program, or SBA's other COVID relief programs, please visit our website at SBA.gov/relief for the most current updates.Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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