In the ever changing PPP and EIDL loans we are doing our best to keep everyone up to date. This is the latest graph provided to us by the SBA Department. It might help answer a few of your questions.
I understand many of you continue to have questions about how long it is going to take for your funds to arrive, when will I be assigned a loan officer or why I did not qualify for the loan.
Where I don't have all the answers I am happy to talk with anyone about the loan process. Just know that all financial institutions are overwhelmed as I talk to former peers they are working 16 - 18 hour days just to get loans approved. Some banks have had to close their websites for days at a time just to process the requests they have received. Please know they all working as quickly as possible.
This is what I have been told by loan officers.
- Please do not continue to call them to find out about where your loan is in the process. If they are answering your calls they are not working on processing loan requests. Only call if you have been asked to call them back.
- Always have your ID number ready when you do call, if you do not have an ID# know have your tax ID or SS# ready.
- If you are asked to provide more information PLEASE send it ALL at one time (do not piece meal your information)
- Please try and answer their phone calls so you do not have to call them back and play phone tag.
- Please answer their emails in a timely manner.
- Most of all have patience.
Many banks are only assisting their current account holders, so contact your bank first. If they are not an approved lender refer to the SBA website at
www.sba.gov
for a complete list of approved banks.
Remember I am always here to give you guidance via email or phone. My email is Juli@sausalito.org, I will get back to you just as quickly as I can, while I SIP at home.
Juli Vieira
