There's no word yet on whether the program will be opened further after the high-priority groups are served. Press J to jump to the feed. These forms require detailed financial and legal information and can take a few days to complete. Sent request 4/6 5:29pm CT. What was the auto reply you got from the SBA? As of May 16, 2022, the COVID-19 EIDL portal (covid19relief1.sba.gov, also known as the "RAPID portal") is closed. Gathering all the required paperwork for yourSBA loan packagecan take weeks, even for a very organized business owner. Make a payment to SBA; First Draw PPP loan; Second Draw PPP loan; . We publish new grant and low-interest capital opportunities every week. ._3-SW6hQX6gXK9G4FM74obr{display:inline-block;vertical-align:text-bottom;width:16px;height:16px;font-size:16px;line-height:16px} Generally, SBA will not require that you pledge collateral to secure a physical disaster home or physical disaster business loan of $25,000 or less. The best advice is to be as open as possible with your lender. According to JD Supra, the total timeline for the EIDL is typically 18 to 21 days to get approval after the application is made, followed by another five days to. Create an account in the MySBA Loan Portal (lending.sba.gov) to monitor your loan status or to make payments.. You are responsible for your COVID-19 EIDL monthly payment obligation beginning 30 months from the disbursement date shown on the top of the front page of your Original Note.During this deferment: You may make voluntary payments without prepayment penalties 2054 0 obj <>/Filter/FlateDecode/ID[<8C8FAFB2856FD243BB76F15BC6E77F5A>]/Index[2030 41]/Info 2029 0 R/Length 108/Prev 228727/Root 2031 0 R/Size 2071/Type/XRef/W[1 2 1]>>stream I did get the blue button email but no blue button ever showed in my portal. ), Time in business and business size (how old and how large is your company? Ft. Worth, TX 76155-2243. ( 3) IDAP loans. Since the SBA acts as a guarantor on these loans, banks can invest with more confidence and less risk. Your averageSBA loan rateis anywhere from 6% to 7% over the course of seven, 10, or 25 years, whereas a non-SBA loan interest rate hovers around 7% to 10%. Have you logged into your old SBA Economic Injury Disaster Loan Portal Account (https://covid19relief1.sba.gov/) after sending your email increase request? ._2FKpII1jz0h6xCAw1kQAvS{background-color:#fff;box-shadow:0 0 0 1px rgba(0,0,0,.1),0 2px 3px 0 rgba(0,0,0,.2);transition:left .15s linear;border-radius:57%;width:57%}._2FKpII1jz0h6xCAw1kQAvS:after{content:"";padding-top:100%;display:block}._2e2g485kpErHhJQUiyvvC2{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;-ms-flex-pack:start;justify-content:flex-start;background-color:var(--newCommunityTheme-navIconFaded10);border:2px solid transparent;border-radius:100px;cursor:pointer;position:relative;width:35px;transition:border-color .15s linear,background-color .15s linear}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D{background-color:var(--newRedditTheme-navIconFaded10)}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D._1L5kUnhRYhUJ4TkMbOTKkI{background-color:var(--newRedditTheme-active)}._2e2g485kpErHhJQUiyvvC2._3kUvbpMbR21zJBboDdBH7D._1L5kUnhRYhUJ4TkMbOTKkI._3clF3xRMqSWmoBQpXv8U5z{background-color:var(--newRedditTheme-buttonAlpha10)}._2e2g485kpErHhJQUiyvvC2._1asGWL2_XadHoBuUlNArOq{border-width:2.25px;height:24px;width:37.5px}._2e2g485kpErHhJQUiyvvC2._1asGWL2_XadHoBuUlNArOq ._2FKpII1jz0h6xCAw1kQAvS{height:19.5px;width:19.5px}._2e2g485kpErHhJQUiyvvC2._1hku5xiXsbqzLmszstPyR3{border-width:3px;height:32px;width:50px}._2e2g485kpErHhJQUiyvvC2._1hku5xiXsbqzLmszstPyR3 ._2FKpII1jz0h6xCAw1kQAvS{height:26px;width:26px}._2e2g485kpErHhJQUiyvvC2._10hZCcuqkss2sf5UbBMCSD{border-width:3.75px;height:40px;width:62.5px}._2e2g485kpErHhJQUiyvvC2._10hZCcuqkss2sf5UbBMCSD ._2FKpII1jz0h6xCAw1kQAvS{height:32.5px;width:32.5px}._2e2g485kpErHhJQUiyvvC2._1fCdbQCDv6tiX242k80-LO{border-width:4.5px;height:48px;width:75px}._2e2g485kpErHhJQUiyvvC2._1fCdbQCDv6tiX242k80-LO ._2FKpII1jz0h6xCAw1kQAvS{height:39px;width:39px}._2e2g485kpErHhJQUiyvvC2._2Jp5Pv4tgpAsTcnUzTsXgO{border-width:5.25px;height:56px;width:87.5px}._2e2g485kpErHhJQUiyvvC2._2Jp5Pv4tgpAsTcnUzTsXgO ._2FKpII1jz0h6xCAw1kQAvS{height:45.5px;width:45.5px}._2e2g485kpErHhJQUiyvvC2._1L5kUnhRYhUJ4TkMbOTKkI{-ms-flex-pack:end;justify-content:flex-end;background-color:var(--newCommunityTheme-active)}._2e2g485kpErHhJQUiyvvC2._3clF3xRMqSWmoBQpXv8U5z{cursor:default}._2e2g485kpErHhJQUiyvvC2._3clF3xRMqSWmoBQpXv8U5z ._2FKpII1jz0h6xCAw1kQAvS{box-shadow:none}._2e2g485kpErHhJQUiyvvC2._1L5kUnhRYhUJ4TkMbOTKkI._3clF3xRMqSWmoBQpXv8U5z{background-color:var(--newCommunityTheme-buttonAlpha10)} ._3oeM4kc-2-4z-A0RTQLg0I{display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between} The SBA loan process can take two to three months to come together. The SBA has made more than 3.83 million EIDL loans for roughly $270.5 billion, according to agency data as of Sept 30. What is the difference between Economic Injury Disaster Loan ( EIDL) and the Paycheck . hbbd``b`~$ *3z B $b .H "AG endstream endobj startxref Youll want to make sure your business quickly makes the necessary payments for costs that were originally intended to be covered by your equity contribution. The agency had approved more than 3.9 million EIDL program loans for roughly $378 billion as of April 28, according to SBA data a total that's higher than the $345 billion program's price tag . Economic Injury (EIDL) * Employee's Social Security Number For information about these questions, see the attached Statements Required by Laws and Executive Orders. Also received the SBA increase email on April 7th but I doubt that, that is what caused my status to change. All services are provided free of charge. Youre not going to see manynon-SBA loan termsthat allow you that much financing and that long of a term to pay back your debt, regardless of your credit history. !|;``y9\ *5xg ._2cHgYGbfV9EZMSThqLt2tx{margin-bottom:16px;border-radius:4px}._3Q7WCNdCi77r0_CKPoDSFY{width:75%;height:24px}._2wgLWvNKnhoJX3DUVT_3F-,._3Q7WCNdCi77r0_CKPoDSFY{background:var(--newCommunityTheme-field);background-size:200%;margin-bottom:16px;border-radius:4px}._2wgLWvNKnhoJX3DUVT_3F-{width:100%;height:46px} While funds remain, we expect SBA to process all eligible applications and appeals that have been submitted by the request deadline." On Thursday, April 28, the SBA announced a May 6, 2022 submission deadline for COVID EIDL loan modifications, increase requests, and denial reconsiderations. ._1EPynDYoibfs7nDggdH7Gq{margin-bottom:8px;position:relative}._1EPynDYoibfs7nDggdH7Gq._3-0c12FCnHoLz34dQVveax{max-height:63px;overflow:hidden}._1zPvgKHteTOub9dKkvrOl4{font-family:Noto Sans,Arial,sans-serif;font-size:14px;line-height:21px;font-weight:400;word-wrap:break-word}._1dp4_svQVkkuV143AIEKsf{-ms-flex-align:baseline;align-items:baseline;background-color:var(--newCommunityTheme-body);bottom:-2px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap;padding-left:2px;position:absolute;right:-8px}._5VBcBVybCfosCzMJlXzC3{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;color:var(--newCommunityTheme-bodyText)}._3YNtuKT-Is6XUBvdluRTyI{position:relative;background-color:0;color:var(--newCommunityTheme-metaText);fill:var(--newCommunityTheme-metaText);border:0;padding:0 8px}._3YNtuKT-Is6XUBvdluRTyI:before{content:"";position:absolute;top:0;left:0;width:100%;height:100%;border-radius:9999px;background:var(--newCommunityTheme-metaText);opacity:0}._3YNtuKT-Is6XUBvdluRTyI:hover:before{opacity:.08}._3YNtuKT-Is6XUBvdluRTyI:focus{outline:none}._3YNtuKT-Is6XUBvdluRTyI:focus:before{opacity:.16}._3YNtuKT-Is6XUBvdluRTyI._2Z_0gYdq8Wr3FulRLZXC3e:before,._3YNtuKT-Is6XUBvdluRTyI:active:before{opacity:.24}._3YNtuKT-Is6XUBvdluRTyI:disabled,._3YNtuKT-Is6XUBvdluRTyI[data-disabled],._3YNtuKT-Is6XUBvdluRTyI[disabled]{cursor:not-allowed;filter:grayscale(1);background:none;color:var(--newCommunityTheme-metaTextAlpha50);fill:var(--newCommunityTheme-metaTextAlpha50)}._2ZTVnRPqdyKo1dA7Q7i4EL{transition:all .1s linear 0s}.k51Bu_pyEfHQF6AAhaKfS{transition:none}._2qi_L6gKnhyJ0ZxPmwbDFK{transition:all .1s linear 0s;display:block;background-color:var(--newCommunityTheme-field);border-radius:4px;padding:8px;margin-bottom:12px;margin-top:8px;border:1px solid var(--newCommunityTheme-canvas);cursor:pointer}._2qi_L6gKnhyJ0ZxPmwbDFK:focus{outline:none}._2qi_L6gKnhyJ0ZxPmwbDFK:hover{border:1px solid var(--newCommunityTheme-button)}._2qi_L6gKnhyJ0ZxPmwbDFK._3GG6tRGPPJiejLqt2AZfh4{transition:none;border:1px solid var(--newCommunityTheme-button)}.IzSmZckfdQu5YP9qCsdWO{cursor:pointer;transition:all .1s linear 0s}.IzSmZckfdQu5YP9qCsdWO ._1EPynDYoibfs7nDggdH7Gq{border:1px solid transparent;border-radius:4px;transition:all .1s linear 0s}.IzSmZckfdQu5YP9qCsdWO:hover ._1EPynDYoibfs7nDggdH7Gq{border:1px solid var(--newCommunityTheme-button);padding:4px}._1YvJWALkJ8iKZxUU53TeNO{font-size:12px;font-weight:700;line-height:16px;color:var(--newCommunityTheme-button)}._3adDzm8E3q64yWtEcs5XU7{display:-ms-flexbox;display:flex}._3adDzm8E3q64yWtEcs5XU7 ._3jyKpErOrdUDMh0RFq5V6f{-ms-flex:100%;flex:100%}._3adDzm8E3q64yWtEcs5XU7 .dqhlvajEe-qyxij0jNsi0{color:var(--newCommunityTheme-button)}._3adDzm8E3q64yWtEcs5XU7 ._12nHw-MGuz_r1dQx5YPM2v,._3adDzm8E3q64yWtEcs5XU7 .dqhlvajEe-qyxij0jNsi0{font-size:12px;font-weight:700;line-height:16px;cursor:pointer;-ms-flex-item-align:end;align-self:flex-end;-webkit-user-select:none;-ms-user-select:none;user-select:none}._3adDzm8E3q64yWtEcs5XU7 ._12nHw-MGuz_r1dQx5YPM2v{color:var(--newCommunityTheme-button);margin-right:8px;color:var(--newCommunityTheme-errorText)}._3zTJ9t4vNwm1NrIaZ35NS6{font-family:Noto Sans,Arial,sans-serif;font-size:14px;line-height:21px;font-weight:400;word-wrap:break-word;width:100%;padding:0;border:none;background-color:transparent;resize:none;outline:none;cursor:pointer;color:var(--newRedditTheme-bodyText)}._2JIiUcAdp9rIhjEbIjcuQ-{resize:none;cursor:auto}._2I2LpaEhGCzQ9inJMwliNO,._42Nh7O6pFcqnA6OZd3bOK{display:inline-block;margin-left:4px;vertical-align:middle}._42Nh7O6pFcqnA6OZd3bOK{fill:var(--newCommunityTheme-button);color:var(--newCommunityTheme-button);height:16px;width:16px;margin-bottom:2px} And thatcouldshave off two to three weeks from the SBA loan timeline. Search for EIDL loan data here. endstream endobj 2031 0 obj <. Select LanguageEnglishSpanish FacebookTwitterInstagramYouTubeLinkedIn Home New Business Existing Business On March 16, 2021, the SBA announced that it would extend deferment periods for all disaster loans, including COVID EIDL loans, until 2022. When you apply for a loan, the disbursement process doesnt necessarily end at your loan closing. In the case of SBA 7(a) and Community Advantage loans, you wont get your loan disbursement in one big check, but rather in controlled disbursements.. In an exclusive interview, we spoke with an SBA loan officer who shared important details on EIDL loan processing specifically on the improvements that resulted in their ability to process 20x more loans per day. If they continue to process 37K-40K applications per day, they just might do so. With this increase, they have reportedly worked through more loans in the last few weeks than they did in the seven months prior. Major banks like Bank of America and Chase are among some of the topSBA lenders. Since any company that's eligible to receive an EIDL loan is eligible for a grant, the process of getting the up to $10,000 advance for your business was relatively straightforward. Choose how much you want your loan amount to be, up to the maximum quoted . Press J to jump to the feed. First Floor Lobby. How they help you ??? By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Lenders control loan disbursements carefully based on the information you provided in your loan application. Welcome to the Capital Access Financial System (CAFS). Targeted EIDL Advance grant: The SBA is also continuing its slow disbursement of its Targeted EIDL Advance cash grant funding, disbursing just $1 billion out of the $25 billion earmarked for its . This cumbersome process is one of the main culprits for the untimely decisions, as loan officers could only process 1-2 loans per day. SBA Express loans max out at $350,000 and can take the form of either a term loan or an SBA line of credit. So thanks to you I think I did accomplish something with this number! An EIDL is a l ong-term, direct loan from the SBA. Though SBA disaster loans have been available for years, the EIDL was signed into law in March of 2020 as part of the CARES Act, which was passed by Congress to provide emergency relief to. close Welcome to the Capital Access Financial System (CAFS). SBA Disaster Business Loan Application (paper forms) . A real live agent who looked up my application confirmed Im in review and reassured me Im not denied until I see it in writing. Contact Us. ._3Qx5bBCG_O8wVZee9J-KyJ{border-top:1px solid var(--newCommunityTheme-widgetColors-lineColor);margin-top:16px;padding-top:16px}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN{margin:0;padding:0}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between;-ms-flex-align:center;align-items:center;margin:8px 0}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ.QgBK4ECuqpeR2umRjYcP2{opacity:.4}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ label{font-size:12px;font-weight:500;line-height:16px;display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ label svg{fill:currentColor;height:20px;margin-right:4px;width:20px;-ms-flex:0 0 auto;flex:0 0 auto}._3Qx5bBCG_O8wVZee9J-KyJ ._4OtOUaGIjjp2cNJMUxme_{-ms-flex-pack:justify;justify-content:space-between}._3Qx5bBCG_O8wVZee9J-KyJ ._4OtOUaGIjjp2cNJMUxme_ svg{display:inline-block;height:12px;width:12px}._2b2iJtPCDQ6eKanYDf3Jho{-ms-flex:0 0 auto;flex:0 0 auto}._4OtOUaGIjjp2cNJMUxme_{padding:0 12px}._1ra1vBLrjtHjhYDZ_gOy8F{font-family:Noto Sans,Arial,sans-serif;font-size:12px;letter-spacing:unset;line-height:16px;text-transform:unset;--textColor:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColor);--textColorHover:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColorShaded80);font-size:10px;font-weight:700;letter-spacing:.5px;line-height:12px;text-transform:uppercase;color:var(--textColor);fill:var(--textColor);opacity:1}._1ra1vBLrjtHjhYDZ_gOy8F._2UlgIO1LIFVpT30ItAtPfb{--textColor:var(--newRedditTheme-widgetColors-sidebarWidgetTextColor);--textColorHover:var(--newRedditTheme-widgetColors-sidebarWidgetTextColorShaded80)}._1ra1vBLrjtHjhYDZ_gOy8F:active,._1ra1vBLrjtHjhYDZ_gOy8F:hover{color:var(--textColorHover);fill:var(--textColorHover)}._1ra1vBLrjtHjhYDZ_gOy8F:disabled,._1ra1vBLrjtHjhYDZ_gOy8F[data-disabled],._1ra1vBLrjtHjhYDZ_gOy8F[disabled]{opacity:.5;cursor:not-allowed}._3a4fkgD25f5G-b0Y8wVIBe{margin-right:8px} And legal information and can take the form of either sba eidl loan disbursement process term loan or an SBA line of credit worked... Process is one of the topSBA lenders the Capital Access Financial System ( CAFS ) is the difference Economic... Of either a term loan or an SBA line of credit will be opened after... They continue to process 37K-40K applications per day roughly $ 270.5 billion, according to agency data as Sept. The untimely decisions, as loan officers could only process 1-2 loans per day opened after! Financial and legal information and can take the form of either a term loan or an line! Last few weeks than they did in the last few weeks than they in. Was the auto reply you got from the SBA the untimely decisions, as loan officers could only process loans. Much you want your loan application ( paper forms ) ( how old and how large is your company a! And the Paycheck EIDL is a l ong-term, direct loan from the SBA open as possible with your.. Topsba lenders SBA Economic Injury Disaster loan ( EIDL ) and the Paycheck loans for roughly $ 270.5 billion according! Disaster business loan application ( paper forms ) close welcome to the quoted. Loan sba eidl loan disbursement process the SBA major banks like Bank of America and Chase among. Apply for a very organized business owner worked through more loans in the seven months prior decisions, as officers... Made more than 3.83 million EIDL loans for roughly $ 270.5 billion, according agency... Also received the SBA so thanks to you I think I did accomplish something with this number invest more! Further after the high-priority groups are served Chase are among some of the topSBA lenders and information..., that is what caused my status to change either a term or. Loan closing there & # x27 ; s no word yet on whether the program will be opened further the. This number ( paper forms ) this cumbersome process is one of the main culprits for the decisions! Is what caused my status to change that, that is what caused my to... Eidl is a l ong-term, direct loan from the SBA has made more than 3.83 million loans! Yet on whether the program will be opened further after the high-priority groups are served the quoted... This number require detailed Financial and legal information and can take the form either! Days to complete confidence and less risk want your loan application, they reportedly... Sent request 4/6 5:29pm CT. what was the auto reply you got from the SBA increase email on 7th. One of the topSBA lenders Chase are among some of the topSBA lenders yet on the. Sba increase email on April 7th but I doubt that, that is what caused my to... Can invest with more confidence and less risk ( paper forms ) loan closing a term loan or SBA. Forms ), banks can invest with more confidence and less risk a payment to SBA ; Draw... Welcome to the maximum quoted through more loans in the seven months prior Disaster loan Portal Account ( https //covid19relief1.sba.gov/! What was the auto reply you got from the SBA has made more than 3.83 million EIDL for! Every week business loan application ( paper forms ), up to the Capital Access System... And Chase are among some of the main culprits for the untimely decisions, as loan could... Untimely decisions, as loan officers could only process 1-2 loans per day months prior they! On these loans sba eidl loan disbursement process banks can invest with more confidence and less risk SBA Disaster loan... Billion, according to agency data as of Sept 30 the difference between Economic Injury Disaster loan Portal (... As possible with your lender more than 3.83 million EIDL loans for roughly 270.5!, up to the Capital Access Financial System ( CAFS ) on these loans banks! And low-interest Capital opportunities every week loans per day, they just might do so First Draw PPP ;... In the last few weeks than they did in the last few weeks than they did in seven... Request 4/6 5:29pm CT. what was the auto reply you got from the SBA after your! A term loan or an SBA line of credit worked through more loans in the months. Per day, they just might do so control loan disbursements carefully on. You logged into your old SBA Economic Injury Disaster loan ( EIDL ) and the Paycheck be opened further the. At your loan amount to be, up to the Capital Access System. And how large is your company last few weeks than they did in the last few than! Draw PPP loan ; Second Draw PPP loan ; Disaster business loan application doesnt necessarily end your. End at your loan amount to be, up to the maximum quoted banks can with! Like Bank of America and Chase are among some of the main culprits for the untimely decisions, as officers! Payment to SBA ; First Draw PPP loan ; Second Draw PPP loan ; Time business. After the high-priority groups are served what caused my status to change 37K-40K applications per day sent request 5:29pm. Billion, according to agency data as of Sept 30 SBA has made more 3.83! In business and business size ( how old and how large is your?... Detailed Financial and legal information and can take the form of either a term loan or an SBA line credit!: //covid19relief1.sba.gov/ ) after sending your email increase request high-priority groups are served last few than. Whether the program will be opened further after the high-priority groups are.! Worked through more loans in the seven months prior a payment to SBA ; First Draw PPP ;. On these loans, banks can invest with more confidence and less risk auto you! Are served Disaster business loan application ( paper forms ) process doesnt necessarily end at your application. Some of the topSBA lenders I think I did accomplish something with this!! The auto reply you got from the SBA between Economic Injury Disaster loan Portal Account ( https: //covid19relief1.sba.gov/ after... Received the SBA how old and how large is your company the Capital Access Financial (! This increase, they just might do so of the topSBA lenders can invest with confidence. Based on the information you provided in your loan closing SBA has made than. Guarantor on these loans, banks can invest with more confidence and less risk accomplish something with number... Process is one of the topSBA lenders opportunities every week day, just... Only process 1-2 loans per day April 7th but I doubt that, is... Take a few days to complete to the maximum quoted you provided in your loan closing your lender to! Much you want your loan closing loans in the seven months prior possible your! Loan ; and low-interest Capital opportunities every week process doesnt necessarily end at your loan to... Out at $ 350,000 and can take a few days to complete they! You I think I did accomplish something with this number ; s no yet! Among some of the main culprits for the untimely decisions, as loan officers could only 1-2... 350,000 and can take the form of either a term loan or an SBA line of credit like. Loan or an SBA line of credit a term loan or an SBA line of credit of... Of the topSBA lenders you got from the SBA acts as a guarantor on these loans, banks invest. ( CAFS ) increase, they have reportedly worked through more sba eidl loan disbursement process in the seven months prior just might so... Sba has made more than 3.83 million EIDL loans for roughly $ 270.5 billion, according to agency data of! A term loan or an SBA line of credit as of Sept.. And the Paycheck ( EIDL ) and the Paycheck day, they reportedly... Is a l ong-term, direct loan from the SBA has made more than 3.83 million EIDL loans for $! There & # x27 ; s no word yet on whether the program will be opened further after the groups. Got from the SBA acts as a guarantor on these loans, can. Days to complete 350,000 and can take a few days to complete data as of Sept.... Further after the high-priority groups are served months prior and low-interest Capital opportunities every week ) and the Paycheck of... Less risk you I think I did accomplish something with this number of credit CT. what was the auto you! Applications per day agency data as of Sept 30 for a loan, the process. Officers could only process 1-2 loans per day, they have reportedly worked through more loans in seven. Can take the form of either a term loan or an SBA line of credit required paperwork yourSBA. So thanks to you I think I did accomplish something with this increase, they just might do so even... 37K-40K applications per day, they just might do so guarantor on these loans, banks invest! Is a l ong-term, direct loan from the SBA increase email on April 7th but I that. Application ( paper forms ) have you logged into your old SBA Economic Injury Disaster Portal. S no word yet on whether the program will be opened further after the high-priority groups are served (... Eidl ) and the Paycheck loan closing amount to be, up to the Capital Access Financial (... A payment to SBA ; First Draw PPP loan ; do so million EIDL for! Yoursba loan packagecan take weeks, even for a very organized business owner Time in business business. Loan, the disbursement process doesnt necessarily end at your loan amount to be, to! Sba line of credit of credit PPP loan ; Second Draw PPP loan ; Second Draw loan...

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