#SBA LOAN STATUS FOR FREE#
#SBA LOAN STATUS SERIES#

#SBA LOAN STATUS FOR FREE#

Recordings of Town Halls are available to view for free on AICPA TV.

#SBA LOAN STATUS SERIES#

Go to the AICPA Town Hall Series webpage for more information and to register. The webcasts, which provide CPE credit, are free to AICPA members and $39 for nonmembers. And more than 372,000 Supplemental Targeted Advances totaling nearly $1.9 billion.ĪICPA experts discuss the latest on the COVID-19 EIDL and other small business aid programs during a virtual town hall held every other week.More than 465,000 Targeted EIDL Advances totaling a little more than $4 billion.3.84 million EIDL loans totaling nearly $300 billion.This is a federal computer system and is the property of the United States Government. In time, you’ll be able to log in and check the status of your inquiries, as well as your loan, grant, and certification program applications. The most significant change was raising the cap on EIDL loans from $500,000 to $2 million.Īccording to a report issued Thursday, the SBA has approved: My.SBA.gov currently lets you submit customer service inquiries through a convenient online form. The guidance issued Friday by the SBA comes a little more than two months after the agency announced major modifications to the EIDL program designed to make the money more accessible to more businesses. It is your obligation, as the borrower, to understand the SBAs rules. Neither of the advance grants needs to be repaid. Heres how Forgiveness will work for PPP loans processed through Chase. The cap on the advance is $5,000, meaning that businesses face a total cap of $15,000 if they receive both types of advance grants. A Supplemental Targeted Advance is available to Targeted EIDL Advance recipients that have 10 or fewer employees and saw revenues drop at least 50% due to COVID-19.A Targeted EIDL Advance of up to $10,000 is available to businesses that are located in low-income communities, have 300 or fewer employees, and suffered a revenue loss of more than 30% due to COVID-19.Payments on interest and principal will then take place over the final 28 years of the loan. Loan payments are deferred for the first two years, though interest will accrue. Loan proceeds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying debt. COVID-19 EIDL loans have a 30-year term with fixed interest rates of 3.75% for small businesses, including sole proprietors and independent contractors, and 2.75% for not-for-profits.The funding comes in three forms, as follows: The COVID-19 EIDL programs are designed to provide funding access to small businesses hurt economically during the COVID-19 pandemic. 31, provided that the reconsideration or appeal is received within six months from the date of decline for reconsiderations and 30 days from the date of reconsideration decline for appeals - provided funding is still available. The SBA said it would accept and review reconsideration and appeal requests received on or before Dec.

31 will continue to be processed after that date until all funds are exhausted. In contrast, EIDL and Targeted EIDL Advance applications received by Dec. 31, which means that applications received close to that date might not complete the review process in time. The agency cannot continue to process Supplemental Targeted Advance applications after Dec. 31 deadline remains in place, the SBA said it strongly recommends that businesses seeking a Supplemental Targeted Advance submit their application no later than Dec. Small Business Administration (SBA) released updated guidance Friday regarding applications for loans, advances, and appeal requests with the COVID-19 Economic Injury Disaster Loans (EIDL) program. For more information, please see our Privacy Policy Page.The U.S.

Our affiliate compensation allows us to maintain an ad-free website and provide a free service to our readers. This can affect which services appear on our site and where we rank them.

While we strive to keep our reviews as unbiased as possible, we do receive affiliate compensation through some of our links. Our mission is to help consumers make informed purchase decisions. Clarify all fees and contract details before signing a contract or finalizing your purchase. For the most accurate information, please ask your customer service representative. Pricing will vary based on various factors, including, but not limited to, the customer’s location, package chosen, added features and equipment, the purchaser’s credit score, etc. Disclaimer: The information featured in this article is based on our best estimates of pricing, package details, contract stipulations, and service available at the time of writing.

Sba loan status