Urgent! SBA Sent $10,000 EIDL Grant; Why I Got Skipped
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- เผยแพร่เมื่อ 20 ต.ค. 2024
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Daaaaang it
Please do more videos on stocks thank you 😊
Will applying for EIDL give me a hard pull on my credit?
@@austindavis7415 Yeah I was looking to see if it was a hard or soft pull
Bro on the thumbnail you like Woody from toy story 😊
quick question for the PPP loan. I don't have a business bank lender for my business, can I still apply?
Everyone asked for 10k because 1k won't even sustain a lemonade stand
thyland726 delete your comment, it makes you look stupid
I’m so glad I lied and put 30 employees. I thought something like this was going to happen. Now show me the money 💴 💴💴💴💴
I deleted my comment. While you can only apply for $10k, YOU'RE RIGHT, it appears the SBA is adding their own conditions and limiting the amount of the grant based off number of employees (which is bullshit).
Unreal.
My apologies. I wish you and your business the best in this difficult time.
@@thyland726 I appreciate it, best of luck to you as well. Crazy times we're living in.
tjlift22 - Did you really? I thought that all borrowers will need to provide proof of monies distributed? Payroll, expenses, etc? No?
Clearly neither of those people on the phone knew what they were talking about.
ChrisJ they never do they just get paid with tax payer dollars
Customer service reps are professional bullshitters. They have to be to be "good" at their jobs.
I think the 2nd person sounded a bit more legit.
They never do
Why are you even applying? You're rich bro...
This guy spends his entire time telling us how great he's doing financially, now he immediately wants to take from a limited supply when he has the opportunity to. You don't need anything...
Corbyn Payne exactly this dude is a d*** head
Well, I understand your position, but at the same time he is still losing money because of COVID. It would be one thing if this crisis did not negatively affect him, but it has.
thyland726 point is, there are limited respires to help people. People shouldn’t take this money unless not doing so means you’re business is ruined. Otherwise you take money from someone that really NEEDED it
This. Here he is continuing to work, pumping out content, pulling in YT revenue and he has the balls to ask for hardship handouts. Douchebag move.
He's making even more money because of COVID, hes making so much due to posting on a trend on TH-cam. He Prob making more on YT then his real-estate endeavors
I haven't received my stimulus money or my grant yet but the IRS did just cash my 2019 check. Thanks government!
The SBA is overwhelmed and operating on old TECH. This is a mess.
They are borderline useless. Even during good times, they never approve anyone. I tried to apply for their programs 3 times. Was never approved. Each time they had a different excuse.
First they said my business didn't gross enough yearly. This was many moons ago when I first got started and wanted to borrow money to buy equipment.
Second go around they told me that I didn't have enough business credit established. Even though my personal credit score is in the mid 700's. And they asked me for my SSN, and I took an inquiry hit on my personal credit!
The final time I applied through a Score mentorship program on a recommendation from my bank. I was told that to qualify for an SBA, you have to learn "how to apply." Well, surprise, surprise, they declined me. The final excuse they gave me was the hook, line, and sinker: "My business was too high risk."
I run an Automotive repair business. High risk? Ppl need to fix their cars PERIOD. It's not an option. But alas, so goes the SBA. That was when I realized the SBA is just another useless, redundant alphabet organization which is not in the business of helping small businesses.
They are good at selling your info however. Till this day I continue to receive telemarking calls and emails enticing me to apply for SBA products from 3rd party affiliate organizations.
Maybe this is how trump is going to get rid of the IRS.. make em all quit lol
@@Uriel-777 Doubt trump is abolishing IRS
@@maximusvonce1381 We would need an Article V Convention to repeal the 17th amendment. That's the only way we could abolish the IRS.
God help us....
Kevin, thanks for this video. I just called the SBA about my existing application, which I submitted early on. My confirmation number is within the first 16,000. My application is still being reviewed according to the representative. A few points: I asked about how many employees I should list if I work only for myself, and he said that my response of "0" was correct. As an independent, I am not supposed to count myself as an employee since I am the owner. Also, he said that my credit health will not factor into the decision. Even though my score is 813, that apparently will not impact the likelihood of my approval, nor how much money I will receive. Finally, I was informed that even though I am by myself, I am still eligible for the full $10,000 at the SBA's discretion. Sounds like it's not all cut and dry when it comes to formulating the projected advance quantity based on employees. Hope this helps.
I’m also in 16k. Nothing yet. Does it matter on the state you have business in? When I called sba they’ve asked me am I calling from IL since I used to live there and still have my old phone # but now live in OH.
@@s2kroma303 What's up Roman?! I wasn't screened at all by the rep. Probably because I led off by providing my confirmation number, so he was able to see where my business is officially domiciled. While it's a tad unsettling to hear that Kevin received mixed messaging from his collective investigative efforts, my call was rather optimistic. I'm pleased that I was able to speak with a live agent at this time of night.
Zero is the wrong answer and very stupid one too. A company with zero employee? No common sense really. If you listen to both calls they are clueless. An owner that perform works at their own company is consider an employee just like anyone else and as long as you are on a payroll you are a peasant.
PragaMaterUrbium yes i agree i am self employed and i put 0 cause no one works for me. I dont pay myself all the money is my sole income. Thanks A.J Baylock for the info helps me with info
I applied on 3/17/20 they auto ran my credit then. Also applied 3/30/20 they ran my credit 4 days later and got an approval email for 15k over 30 years. They deposited today 3k as the advance based on 3 employees on my app.
What showed up on your credit report, SBA, or a bank, or?
@@donlanway5520 US Small Business Administration ODA. They only ran the Experian report so it won't show up on Credit Karma.
@@ciscogonzalez885 Thank you! That makes sense, according to my banker for business credit Experian is pretty much exclusive. For me Experian is a hundred points lower than either of the other two, go figure, lol.
Are you talking about different loan here???!!! We are talking about the maximum $10k forgiven loan/ grand
@@happywater1012 No, I think he's talking about the same thing. From what I'm understanding is the up to $10k part is an advance that does not need to be paid back, and then they follow up with you about whether or not you would qualify for a regular loan. Even if you don't qualify for the regular loan, you get to keep the up to $10k advance that they gave you and it would be considered a grant. If you did qualify for a backend loan, then they would deduct the amount that they advanced you from the loan that you qualified for. I'm pretty sure that's how it works, but the whole thing seems a bit confusing.
I applied the morning after you could apply using their new website (no documentation required) but I haven’t heard anything yet 🙃
Me neither.
Please drop a link to that new website
The SBA agent I spoke to said NOBODY will get money until you receive an email with access to your portal and you approve and accept the loan amount. He said I should receive the email any day now and then proceeded to chat with me endlessly about how many loans they’re processing.
Did your credit checked by the SBA?
Alexsandra No not yet. Just got an email but just a confirmation of my application. No action required yet
Also the email stated that you will only get $1000 per employee, that you had before Jan 31, up to $10,000
@@PJ33333 Experian showed an inquiry from SBA on 4/13, still no "create portal email" as of today. I called today was told pretty much same as you stated above. I'm patiently waiting, trying to remain hopeful and optimistic. Praying 🙏 hope all goes well for you and your family ❤️
Alexsandra Wow the credit check is a good sign! Apparently your loan confirmation number indicates about when they will get to you. Thank u and be safe as well! 🙏
I GOT MY 8K LAST NIGHT. THANK GOD. TOOK ABOUT 2 WEEKS. NO QUESTIONS. NO EMAILS. JUST WOKE UP WITH 8K. THANKS KEVIN YOU'RE A BLESSING.
My husband and I just found this video and applied April 10th will come back with updates.
Hi I applied April 10th did you hear anything back yet?
Thank you for keeping us business owners updated!
Update: thanks Kevin you been on it with the most accurate news. My credit was checked yesterday and they deposited the money at 1am. Working on my payroll report for ‘19 and ‘20 so I can get the ppp
I was under the impression that the EIDL was a loan of up to 25k. Based on the amount of money you were approved for (based on credit score)....that the first 10k was forgiven and you were responsible for the remaining amount. Example: Your Business was approved for 15k based on your credit score. ...You chose to do a 12k Loan, the first 10k is forgiven ...then you’re only responsible for paying back the remaining 2k...
This would make the most logical sense.
You're correct, but if you decline their loan offer you still get to keep the 10K.
I wouldnt be surprised if they recently hired people over the phone, to work from home, and gave them a crash course booklet. I'm serious. When I called they were rustling through papers and had no clue about the facts I was quoting them from their own website.
Well at least we know someone’s getting jobs 😂
😂😂
All of this information is coming from a 1200 page document from the federal government. This is a new process to everyone. When I called the other day, they did inform me that they were adding additional staff, but on that note- even tenured staff is going to have to learn this information because it's brand new. In my opinion, they did an amazing job at getting these applications out quickly for all of us to apply; however I disagree with the number of times they have changed the guidelines and application process.
"Coming up next! how to NOT get your free $10,000!"
Just a $1,000 for Kevin, since he's the only "employee"
kimjack1000 SBA rep told my associate that they don’t consider “Owners” independent contractors/ sole proprietors as “employees,” so they wouldn’t qualify for any advance at all. No $10,000 or $1,000. 🤷🏾♂️
@@ThrillerALi that's totally messed up considering that as an owner and sole proprietor of a business, you are the employee.
My colleague submitted for the EIDL on 3/23 and then after reading an article advising to reapply he did on 3/30. Then he didn't hear anything so he reapplied again on 4/7 and on 4/8 he received paperwork for his $15,000 loan based on his confirmation number from the day before.
How many employees does he have?
This is concerning. I'm wondering if something happened with their system and everyone should reapply if they did it too soon. What paperwork did he get, was it via email?
@@3636-h6p 4 employees.
@@FLVIPHomes It was by email.
My credit was also frozen. I did unfreeze it 2 days ago and today I got my $1000 (no employees). They never did check my credit as far as I can tell. I would have never known about this if it wasn’t for you. Very much appreciated!
TLDR: Unfreeze your credit. Save yourself 12 minutes.
LoL, I didn't even know that was a thing. I've heard of pausing individual cards and accounts
@@silverdoggg its a common thing people do. You do it via each of the 3 bureaus separately to prevent scammers from applying for credit cards through your name. It's a freeze on your current credit.
Good one 👍🏾
silverdoggg It is more trouble than it is worth to be honest. You are better off signing up for the many monitoring services (MyFico) and take advantage of free reports, and instant alerts to new activity.
Sorry about your lost position and thanks for sharing all of these updates... What a pain!
After listening to these phone calls, I’m officially no longer interested in a grant, loan, or Anything else from the SBA, or the Don’t CARE Act. I’m embarrassed to be an American. 😔
I'm with you. This whole process is a disaster.
Big Gov. beaucracy has gotten so bad to this point
The SBA is administered by the Executive Branch of the Federal Govt. I say this because the whole Dumpster fire was avoidable imo and is greatly impacting my frustrations going into Election season.
I mean the one time we need Execution and this fiasco is what we get? AARRRGGGHHH!!
Ohiohammer Network right cuz incoherent Biden will do any better. Talk about coming up with a story to fit your narrative. Drop the act, You were never going to vote for trump anyways.
@@OhiohammerPodcast Yeah, keep in mind it's probably low enough on the priority list Trump probably hasn't been able to move pumps in that direction to drain that part of the Obummer swamp. He has been kinda busy fighting for his political life while trying to push employment to record levels. Imagine where we would all be if this had happened near the end of Obummer's last term? We'd be burning bodies in mass piles and rooting through dumpsters for food.
Had an associate who called the SBA today; the rep lady said that they don’t consider independent contractors and sole proprietors, as employees, although she pays herself employment tax. Therefore, she wouldn’t qualify for any advance of $1,000 or up to $10,000. They are really changing the rules and aren’t following Congress’s intentions for the money. Smh.
ThrillerALi oh really????
Why are they checking my credit! My credit has nothing to do with me and the government making me close my business
Kevin explains in another video that they are checking credit just to insure they do not send out duplicate funds its just a way for them to keep track but it has no effect on your grant or loan money.
@@crazydonkey110 does this affect my credit score by adding more debt?
💯
Right... Smh 🤦🏾♂️
agentgringo1996 - I don't buy it (no pun), I believe they are checking and will decide who will get what by credit. Your credit plays a bigger role than you think!
I applied with the new methodology on March 29th or 30th... I have nothing from em and my credit isn't frozen
Same here man I applied on the 31st and people who applied in April are getting advanced lol
Same here I uploaded my application on Sunday March 29th.
I have not received anything from them. No email confirmation etc. I also followed up on April 6th. By email. No response. Just Nothing.
Same and I didn't even get a confirmation email
IRS attendant "you should unfroze it"
Let's give a hand for the brilliance in our IRS.
*SBA rep.
Applied for mine on April 4th, credit was temp-lifted, funny enough, because i was getting my AMEX Lowes card. Just extended my lift until May 1st. Fingers crossed!
Heres what they told me when I called. I ask "if I could check my application status" she replied "whats the exact date did you apply on?" I told her march 30th 930pm" and she say " okay so you have to re-apply the application because there were some laws signed or changed". And I said " o man really? Would that reset my pending period?" She says " no it wouldn't and once you re-apply a loan officer will contact you 3weeks after that".
That's what I was told to!
@@billysez6949 they told me the same thing.
I was told that last Sunday when they made the sight update it changed everything. She said that those before then aren't worth squat.
Just spoke with the sba. They will limit the loan amount to 25k per business to include the advance. So if you get 5k up front, the rest of the loan will be for 15K.
WOW. That's not at ALL what the bill sez, LMAO! Kinda unbelievable, well, no, wait, we are talking about lifetime swamp critters in places of power, yeah?
I applied March 30th so hopefully I receive this Monday or Tuesday! Thanks Kevin !
Thank you Kevin. You always have great content and great enthusiasm.
Kevin - When you check your CreditKarma, does it show an inquiry? In theory (correct me if I'm wrong), but even with a credit lock/fraud alert, shouldn't the inquiry still show up?
If your credit is frozen, the inquiry won't show.
@PragaMaterUrbium Yes, good point. I received an email from Experian a few hours ago showing a new inquiry hit my report from 'US SM BUS ADMIN ODA'. Because it was Experian, you will not see it on CreditKarma.
The Steven Carlson Show - Millionaire Millennial when did you apply and what state?
@@jaykid007 yeah I want to know the same thing smh some of the states are getting it done!!! I'm in t and I haven't heard anything
@@jaykid007 March 30, around 9am EST. Virginia.
Thank you Kevin, this is really helpful. And thanks for taking the time to get the info...
Thanks for this info.... you always bring us what we need the fastest also....
First 😎
Once you receive this EIDL grant deposited into the account, do you have to provide proof of business or employees to SBA?
5:20 is when he answers the question.
@Ryan Chase Lee 🤣🤣🤣
@@Tahvyy Three squares to you too!
@Ryan Chase Lee ,🟥🟥🟥
I feel your pain! I did the same thing... I applied not too much further behind you. Fun stuff!
you know what, remember there were 2 applications, the first one and then they presented the improved one. That could be the problem. I applied 2x too
They told everyone to apply again under the new format. Btw it was actually 3 applications.
The first one requires you to mail in docs
The second allowed you to upload the docs to the website
The third was the streamlined one that gave you a number starting with 2 or 3.
Thanks for putting out very useful info! I never would have known about this without listening to you.
crazy some people complaining about 2 hard pulls from SBA...then others say no credit pull and $ just appeared. I got email from SBA today saying they're processing my loan...applied 3/30.
Nice
Can you say what your number was (rough estimate) I’m around 350000 and was told that I was approved and to await contact from a loan officer. Does that mean my advance will be processed soon?
I was 330047 & Applied Mar 31
After submitting the application, the SBA was saying they would let you know within 3 days. That didn't happen.
Frozen credit! Dang Kevin, great to know now!
Do they tell them to just freestyle on the phone? Every person that talks to them hears something different 😂
Caller: I'm calling today to discuss the status of---
SBA Agent: *makes dolphin clicking noises*
Anthony Primm 😂😂😂
Calls in, SBA Agent commences to challenge me to a freestyle battle.
SBA agent straight up ask "Did you try unplugging your application and plugging it back in?"
The freestyle script reminds me of the times when I call Florida's unemployment number.
I have better explanation for this: They actually prioritize processing for people who applied under the 2000 series form, who were told they have to reapply again under the streamlined form (series 3300 & 3600), and only until they have finished processing those early applicants, they would begin to process the normal 3300 & 3600 series applicants.
DING DING DING.
We have a winner!!
Well I'm going to put a dent in your therapy. I applied all 3 times. Yes, the application process changed 3 times!
I called this week, and I was told my application was "processing" and an SBA agent would be emailing me soon.
Praying that this random credit check from CitiBank that I got today, is associated with the SBA
Good luck
Keep us updated!!! Praying for u!!! I have bad credit praying I get it
Citi w b PPP. EIDL cks of credit say SBA
Jay Dean never applied to the PPP
*update: as of Monday nothing yet
Really appreciate all of this updated information!! Thanks
I don't really get why you need that money. Just don't apply if you don't really need it.
alphastorm123 How else can he teach us about the process unless he himself applies and goes through the process?? 🤷🏻♀️
@@Lulushef So after the whole process and everybody has learned how to apply, he can give the money back?! In the end it's not money falling from the sky... it is your an mine tax-money.
I have app number of 72K. I applied March 30. Our credit score is not frozen (it's not GREAT, but it's not frozen). No inquiries. I'll try to call on Monday and see which level of support I get.
Can you get the PPP and the EIDL if you also apply for unemployment? ($600/week)
Travis - Minneapolis wondering the same
I'm not CPA and don't have any credibility on this, but from my understanding, assuming you're an independent contractor without employees (if you have employees I have no idea), no to PPP and yes to EIDL. The reason being a PPP requires you to pay yourself, which then you'd need to report that income to unemployment, which means you won't qualify for unemployment benefits. EIDL on the other hand doesn't require you to pay yourself, and also from what i read doesn't count as gross income on your taxes so doesn't seem like it should affect unemployment eligibility. Again I'm not expert, but I'm in a similar boat so thought I'd share.
Yes! You just can't double dip and use the money for the same expenses.
Hi, Kevin. Thanks for all those variable infos on your eacg videos.
About the crecit check, im not sure if i frozed it or noe...but when you go to the bank and applu new checking accounf or credit card, i think they successfully checking my credit report. Do you think it means mycredit is not frozen???
I don't recall reading anything on the application about granting them permission to check my credit. Why are they allowed to see my credit without my authorization?
Guess you didn't read it properly.
@@JonMartin84 I did read it properly. Is it unfathomable for you to think that the government may not be running smoothly and may have accidentally omitted it? Please use your head.
@ETB but this is not a loan, it's a grant
@ETB omg thanks for that info. Ive even set in on webinars hosted by SBDC and either I missed it or it was not explained that way. So there is no relief for sole proprietors w/o employees - is that right?
3:30 According to what the SBA told me your application isnt skipped. Its gone. You have to fill it out again. Glad they are keeping their information consistent there.
Applied a few hours ago. My friend who has a small daycare got $4000 and she applied a week or so ago.
Really ? I'm a small business daycare owner that gives me hope!!!
It seems like it goes by states!!! I live on tx
Kevin, your channel is soooo helpful!!! Thank you!
Me: "Dollar cost averaging is the way to go. .. Im Sticking to my plan!"
Also me: Maybe I should wait a little bit before investing More...
Same lol. Also would like to know SOME income is coming in again at some point
I definitely would. I see the S&P going below 2000 soon.
Me : "I've made 60% on my trades so far, I like free money"
Also me : "I hope these people who are wrong about the stocks going down, magically end up being right so I can make even more money but I'm not betting for the losers"
It all depends on how long this last... if we go all the way to June/july it will crash
Man, thanks for the freeze & unfreezing credit. Hopefully, you hear from the soon to fix the issue. Hearing two different approaches to resolving the issue would be frustrating
Applied 8:15 AM est on March 30th. Just checked my credit and no credit pull since a car I bought 2 years ago! 😟
I applied on 30 March as well. Haven't heard anything back.
your TH-cam channel is going to growth like crazy with all the videos you putting out due to staying home.
It seems that only people that actually get approved for the loan and except the loan will get the additional grant money. There not handing out money for just applying that part was a lie.
No kidding!
I just got my grant money direct deposited. I haven't even applied for the loan. I'm astonished it worked, but there it is.
@@SquareKnotProductions how much?
Grant comes first
Grateful for your research and reporting on this topic.
I just called SBA customer service because I applied for EIDL on March 30th. Here is what the rep told me...
1. They delayed the payouts and she was very surprised anyone has received them (first warning that she may not be up-to-date in her knowledge)
2. After I gave her my application number, she said she couldn't find mine because applications starting with the number "3" haven't yet been loaded into the customer service portal for customer service to access. But to not be concerned -that is normal....
3. I am a sole proprietor and when I asked if it was a problem that I put in 0 for # of employees she said yes, that is a problem. She directed me to resubmit the application and enter 1 in for employees.
4. When I voiced concern that submitting a duplicate application would a) lose my place in line, or b) delay the processing of my application, she said neither of those were true and that if I submit another application, it automatically ties the two applications together via SSN. and they will see both apps.
Not sure what to do here...
Ok so I did the same entered zero when I applied tonight..so I should resubmit I am an independent contractor?
I don't recall the actual date, but applications were being taken for at least a week before the program actually funded, waiting on the Treasury department I believe. The wheels of gubmint turn slowly.
Thanks for all this amazing information Kevin! I applied on the 30th and my credit is unfrozen and without any inquires as of yet - there seems to be some other factors involved.
Do you think the same thing applies to people who put in applications for multiple businesses? I put in a separate application for each of my two businesses. Now I'm wondering if that caused me to get delayed due to the same logistical issue mentioned here.
Scott Kays I’m in the same boat. Hopefully they realize that people can own two or more businesses. I only have13 employees but rent two different locations and being shutdown is going to take it’s toll if we aren’t able to open in the next month.
You Deserve the $10k man you really are in need kevin. You are a needy person. A person of need
Still waiting for my Christmas miracle. 😫😂 (April 3rd applicant, sole prop, higher 600s credit)
You should be good. There were folks with miscreant lvl credit scores who got paid.
Same here lol
blink56k any updates? I applied on 3rd as well
@@kristinajackson5528 None. It sucks since I am a sole proprietor with no employees so I didn't get the regular $1,200, nor the EIDL grant. I didn't apply for PPP because I don't trust them to forgive it lol.
blink56k I called and she looked up my app by number, she said I’m still in the queue I think they want get to us “April 3rd” applicants until beginning- mid next week.
Same story as always, Kevin. You and I are entrepreneurs for a reason. We don't depend on the government to give us money because this is what happens when people do. People sit at home broke and get the run around. So, same story for us my friend: go out and kill something and drag it home. God bless you and thank you for your videos and sharing your knowledge and experience. You have definitely helped me out a lot and I find your videos very entertaining in addition to being informative. You are great at what you do!
So I'm an idiot I applied before they decided it was $1,000 per employee, as a sole proprietor I listed my number of employees as zero... Do you think I should reapply and put down one for myself??
Yeah I did that to because I'm the owner and just work by myself I hope this doesnt effect the application process
@@Destinationreached I just reapplied with 1 employee, I figured it's better to get delayed than denied and all the money be gone... Crossing my fingers and hoping for the best, at least landlords can't evict right now...
I am in the same boat...I believe I put 0 since I am a sole prop. There’s no way to go back and check. Wish they sent a copy of the application to you.
Praying that this random credit check from CitiBank that I got today, is associated with the SBA
@@oldaccount67543 which credit reporting agency did you view inquiries on?
Do you know if you get the grant money prior to the SBA emailing you or after?
Some people actually NEED that $10,000, but for Kevin it's like a sport to mooch off of the government.
Go pick a fight with the banks that are screwing everyone
He's not mooching off the government, he's trying to get the money back they just took from him
That’s business. The more informed you are and the better you are the better your chances. If people don’t want to spend the time to learn this stuff and want to sit on their ass and watch Tiger movies then it’s their own fault. Welcome to America
hes putting quality info out there and explain ing it. be grateful. it's a drop in the bucket compared to the value of transparency
Thanks for your video. I applied a few hours after you// about 3 am Sat March 28 and have not heard anything yet. Is there a web address where we can do a follow up ?
Liar loans in 2008 and now Liar Grants in 2020.
This cannot end well.
I concur..
Liar loans? Do tell...
It is just like 2008 all over again. The big companies get funded and the small ones are toast
@@marcschrenker8439 only this is epic.......2008 on steroids.....
our pants are on fire 🔥
do you need to check the box at the end before putting in your banking info, how do they determine how much you get
Yes you check the box to let them know you want the grant and the amount you get is $1000 per employee Max $10000 or 10 employees
This guy is supposedly almost independently Wealthy what does he care about a bailout
Daniel Semmens umm maybe because it pertains to him 🤔
That's how tge rich get richer... They pick up every penny along the way
People aren't paying their loans and he should obtain all the money he earned
PragaMaterUrbium he would be lucky if his bank froze his mortgage payments. In Canada, mortgages on rentals don’t qualify to be frozen. It is only principle mortgages that allow some missed payments. Even then they tax on interest upon interest on the missed payments. Is anyone sure that mortgages on rental properties in the USA qualify for a freeze?
Hahaha that guy was right about reapplying. We were not supposed to give timelines because we had no timelines and we couldn't project any. Level 1 was just the directory, Level 2 was a team of customer service rep's and again we had no info. There was no level 3, we had support desks but they knew just what I knew.
If you applied again, it was supposed to connect the new with the old based on similar info and we were only able to make notes for the contractors to reverse them. You could view it while it's in review. No one was contacting anyone (Unless there was a significant issue that got caught). There was an issue with different customer service people giving different info when we had access to the same knowledge
I never got an email confirmation after I applied. No pulls on my credit. Wonder if it even went thru and if I should apply again..
Following
Hi Kevin, how did you get to level 2 support? I got skipped to. I applied Sunday 3/29/2020 7:30pm EST. one of the first ones on the new streamed lined process, Credit not locked, no inquires, no nothing. I just re-applied and followed it up with an email asking them to use my original application if they have it and to please keep my spot in line. I don't know what else to do.
What if you put 0 for number of employees (independent contractor) is that fine ?
Should be fine
Hey Kevin, you mention someone got the 10k EIDL accepted with a credit score as low as 400. Have you heard of similar cases where their score are less than ideal?
I used an EIN instead of my SSN when applying, would that screw up the credit check? My business is way too new for credit I believe...
you have to be in business minimum of a year to get the grant
i want to know the same
I want to know these same as well
@Phil Uplin -- I understand that Phil, but I'm curious if my EIN is associated with my SSN.
I'm a sole proprietorship.
My hope is that upon my EIN being run and returning no business credit that my SSN can/will be ran to see my personal credit score.
Any thoughts?
@Phil Uplin Thanks for the input guys
you're killing it homie
Did the people that got the $10,000 have 10 or more employees?
No sba, no unemployment, no stimulus thanks for helping Americans
This is frustrating, applied the 30th, I’ve seen nothing. This has been nothing but disappointment and delays lol
Hi friend, you need to reapply , I also applied in March, I call the SBA April 1 to ask a question and she said everything before April fools day has to be redone , I thought she was joking , but she wasn’t, so I I did , reapply, but like a fool I only put down 4 employees, maybe I should of lied like the rich dishonest 1% who lie about everything, and said 10 so you get the full $10,000 ,I use to have a thriving business fixing restaurant equipment in northern Michigan but we’re dead in the water now , good luck
@@williamschmidt4604 I'm in the same boat, only if you are in the top 1% you can get away with lying
Recently applied for partial unemployment for reduced hours and wages. But before the pandemic I was also in the middle of a startup. Should I apply for the small business grants? Will it effect my unemployment benefits? Thanks.
Those phone operators don’t know what they’re taking about. I bet if he calls again he’ll get a different answer.
I got a different answer than what he says here. They told me I do/did need to reapply with the simple version. They’re not reviewing the long version anymore. They’ll compare the apps if need be and they’ll get back to me. That was her explanation. We’ll see!
I know....I got different answers regarding my app for covid disaster relief sba.........hot line......
I applied on March 29th too at about 11pm Pacific time and I haven't received anything yet either so dont worry
Do we need to reapply if we put 0 for sol prop people who have no employees
My question as well.
Unbelievable! Now when you call the SBA you get an automatic recording directing you to email and then they just hang up on you.
Applied by Paper on the 29th, re-applied on the new streamlined platform Sunday night thereafter, and was application 33xxxxxx248. Still no credit pull, still no grant or loan, still no communication.
Exactly same thing here.
Same here and my number was just a little lower than yours. It would be nice if you could check your status online or told you were denied...just some sort of communication / confirmation.
@@jeremeyshelton Yeah, it appears I was LESS than the 300th person to apply for this... My credit is not locked or anything - no credit pulls, no emails, nothing.
So, we applied several days ago and have not received a confirmation. Is this something that I should be concerned about? Should I call the SBA?
After I applied several days ago, the end screen had a reference number with a message saying "you will not receive a confirmation email, but use the number if you need to follow up with SBA." Hope that helps!
Why are they checking credit if you don't have to repay I don't understand
It’s still a loan. You have to show that the money was used for approved reasons, like payroll, to get forgiveness on the loan later. Otherwise, it will be owed.
just their way of making sure you actually exist, lol
How do they decide if you get $1000 or 10,000 for the advance? It asked about lost rent but so far it’s only 1 month so it’s not that much. Are we supposed to project out our estimated losses coming up?
It actually makes me a little uneasy that so many people are walking around with their credit unfrozen.
What does this mean? I have been working on my credit lately in hopes of being approved for a 1st time home loan...
dereshap so what’s the recommendation, freeze your credit when you’re not seeking to get a loan? How do you freeze it?
I applied April 30th as a 1099 independent. Haven't heard anything nor have I have my credit pulled. Some people are claiming to re apply since the laws changed since the 30th.I dont want to loose my place in line. FLARKKKKK
This grand is to help small business during this pandemic & how’s that related to credit ???
I got my 1000 a week ago. Really helped with paying the rent.
Did you get an email for the actual eidl loan?
@@dnfkghsNo they are only paying the advances now (1000x number of employees). I don't think they have money for the actual loans.
@@americanmuslim6665 😭 thank you
I applied on the 30th as well my confirmation number starts with a 3 and I was told that it was sent to an attorney office for processing. I still haven't seen anything and my credit isn't frozen. So your theory might not be correct
Stephen, see the comment I just posted. The customer service agent told me that she couldn't find my application because applications starting with a 3 haven't yet been loaded into the customer service system. She said this was normal and nothing to be concerned about...
I updated my email on the phone with customer service on the 30th, and they sent me an email yesterday with some good information. I applied on the 30th, and my conformation begins with a 3 as well. Hopefully we'll see a deposit soon.....
@@timcoulter7691 Really? That's a lie. There is no way to check on the status of the loans!
@@jaimeolmeda3248 what was the good information..do tell?
My number starts with 2. I'm still waiting.
Damn damn damn.... thanks for sharing your story. Always great content.
I can tell neither of them knew what they were talking about.
I got 2 different answers when I called as well
Exactly making shit up as you call
I applied 3/30 2:55PM EST no frozen credit but I have had no contact, no credit pull, nothing
I wonder if those people who received the money only applied once. Some of us have multiple businesses and we do one application per business (including Kevin). Therefore each one of us has multiple applications. Can anyone who applied with multiple applications and already received the money confirm here that you received the money? Thanks.