Skip to main content
Question
EIDL PAYMENT
Anonymous
Asked a question 2 years ago

WE HAVE RECEIVED NO INFORMATION FROM SBA--JUST A DIRECT DEPOSIT MARKED "SBA" INTO THE COMPANY BANK ACCOUNT. EIDL PAYMENT OF $1000 WAS RECEIVED APPROXIMATELY 25 DAYS AFTER APPLICATION WAS SENT. WE CALLED SBA AND ASKED WHAT THE STATUS OF THE LOAN IS, HAVING RECEIVED THE AMOUNT ALLOWED AS AN ADVANCE FOR A COMPANY WITH ONE EMPLOYEE. THE SBA REP ON THE PHONE STATED THAT THE LOAN APPLICATION HAS BEEN DENIED, AND THE APPLICANT HAD 90 DAYS TO REQUEST A REVIEW AND REINSTATEMENT. THE REP SAID IT WOULD BE VERY UNLIKELY THAT THE LOAN APPLICATION WOULD BE SUCCESSFUL. WHAT HAPPENS TO THE $1000?

Where am I?

In Multifunding SBA CoronaVirus Support you can ask and answer questions and share your experience with others!

From everything I've read, you get to keep the grant whether you are approved for the loan or not.