COVID19 Relief FAQs Baltimore District Office: Responses to Frequently Asked Questions on PPP and EIDL Loans
Summary
This SBA Baltimore District Office FAQ, dated 4/21/2020, sets EIDL and PPP answers side by side. For the PPP it says a lender that did not send in an application, or sent it late, missed the point at which SBA had to stop accepting new applications because program funds were exhausted, and that SBA would deny an application only if the borrower had a delinquent or default status on a prior SBA loan. It says PPP lenders have delegated authority to make the decisions, so applicants must ask the lender for status because SBA cannot check it. EIDL denials can follow from unsatisfactory credit history, ineligible business activity, delinquent child support, unsubstantiated economic injury or agricultural enterprises. The FAQ puts the EIDL process at a minimum of 21 days and the PPP at approximately 10 days.
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COVID19 Relief FAQs
Baltimore District Office
Responses to Frequently Asked Questions on PPP and EIDL Loans
Questions Economic Injury Disaster Loan (EIDL) Paycheck Protect Program (PPP)
Why wasn’t I approved? -Unsatisfactory credit history The lender either did not send in the application or it was submitted late and
-Business activity is not eligible. EIDL assistance is did not make it in our system before SBA had to stop accepting new
available only to a small business engaged in an applications due to exhausted program funds/a lapse in appropriations.
eligible business activity. Business activity means the
nature of the business conducted by the applicant The only time SBA would deny an application is if the borrower had either a
-Not eligible due to delinquent child support payments delinquent or default status on a prior SBA loan. Otherwise, SBA’s application
-Economic injury is not substantiated system would approve the application as soon as the lender submits it.
-Agricultural enterprises are not eligible
-Not eligible due to character reasons
-Unverifiable Information
-Applicant requests a withdrawal or fails to proceed
I submitted my PPP Many lenders accepted applications from bank and non-bank customers and
application to a bank I prioritized submitting them for approval based on their own internal guidelines,
normally don’t do business not necessarily on a first come- first serve basis.
with and my credit is good.
I do not understand why I
wasn’t approved.
I have already submitted Applicants who have already submitted their Applications that were already submitted, will be processed in the order in
my application. What applications will continue to be processed on a first- which they were received. New applications will not be accepted until program
happens now that all the come, first-served basis. The EIDL loan application funding is restored.
money is gone? portal will be re-opened once funding is restored.
Who approves my SBA’s Office of Disaster Assistance All PPP Lenders have Delegated Authority, which means they and not SBA are
application? making the decisions if the applicant qualifies for funding.
How do I check the status Call 800- 659-2955 or email The applicant will have to contact the lender. SBA does not have the ability to
of my application? disastercustomerservice@sba.gov check the status of PPP applications. Lenders have the sole responsibility under
the delegated authority to notify applicants of their status.
Will the program receive Congress will make this decision. Congress will make this decision.
additional funds?
Can I request the Advance No, a new application must be submitted.
after I submit my
application?
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COVID19 Relief FAQs
Baltimore District Office
Questions Economic Injury Disaster Loan (EIDL) Paycheck Protect Program (PPP)
My lender told me my PPP The lender either did not send in the application or it was submitted late and
was approved. It has been didn’t make it in our system before SBA had to stop accepting new applications
more than 10 days and the due to exhausted program funds.
lender has instructed me to The applicant will have to contact the lender for loan status.
call SBA. When will I get
the money?
How long does it take for The EIDL Loan process takes a minimum of 21 days to The PPP process takes approximately 10 days to complete.
me to get the money? complete. However, the completed timeframe is on a
case by case basis.
Do I need to reapply for the If your application confirmation number begins with a
EIDL/EIDL Advance? “3” you do not need to reapply. Otherwise, complete
the streamlined loan application at:
https://covid19relief.sba.gov/#/
The loan portal will be reopened when funding is
restored.
Can an applicant accept Yes. A small business can apply for an EIDL loan and
only the EIDL Advance and later elect not to “close” or accept that loan. If they
not the EIDL? requested and received an EIDL Advance (by checking
the request box within the EIDL loan application), that
amount does not need to be repaid. There would only
be a balance due if they accepted the full amount of
the EIDL loan.
I am having trouble finding Visit www.sba.gov to search for a lender or consider one of the following online
a lender to accept my PPP SBA approved PPP lenders.
application Funding Circle - www.fundingcircle.com
Ondeck - www.ondeck.com
Kabbage - www.kabbage.com
Loan Builder - www.loanbuilder.com
BlueVine - www.bluevine.com
Lendistry - www.lendistry.com
Lendio - www.lendio.com
PayPal – www.paypal.com
4/21/2020 www.sba.gov/md * www.sba.gov/disaster Page 2
COVID19 Relief FAQs
Baltimore District Office
Questions Economic Injury Disaster Loan (EIDL) Paycheck Protect Program (PPP)
How do I apply for disaster If you are interested in applying for an Economic Injury Contact the bank you normally use for your business lending or where you have
assistance? Disaster Loan or EIDL Advance, visit a business account. In addition, you can contact any of the SBA PPP approved
https://covid19relief.sba.gov/ Apply online and check lenders found online at www.sba.gov or in the previous section.
the box when prompted if you are requesting an
Advance. Save your confirmation number. For Disaster
loan questions, call 1-800-659-2955 or email
disastercustomerservice@sba.gov
Additional questions? Call 800- 659-2955 or email Email mdsbaloanquestions@sba.gov
disastercustomerservice@sba.gov
If you are declined for a loan:
If you disagree with the decline decision, you may request reconsideration, subject to the availability of funds.
You can submit your request by any of the following methods:
a. Mail your request to the address at the top of the decline letter or
b. Fax your request to: 202-481-5931 or
c. E-mail your request to pdcrecons@sba.gov
Your request must:
1. Be in writing and be received as soon as possible (but no later than the DATE THAT IS 3 MONTHS FROM DATE OF APPLICATION
DECISION DATE).
2. Contain all significant information that will address the decline/withdrawal reason(s).
Additional Resources:
We understand that this a challenging time for your business and for the Nation. The SBA has local offices in your community which can refer
you to resources that may be able to help you address the underlying reason for your loan denial.
For more information on these services, please go to www.sba.gov/local-assistance to locate the email address and phone number for the
nearest SBA district office and/or SBA's resource partners. Please call or email for a virtual appointment.
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