In COVID19, EIDL Loans, Finance, Financial Documents, How to Write a Reconsideration Letter, Loan Approval, PPP Loans, SBA Loans

SBA now has a way to upload required documents for your Reconsideration request directly to the SBA website. Previously (as recently as the morning of October 21, 2020!), the SBA Reconsideration Team sent you an email with the list of documents. You would then email the documents and SBA could take up to ten days to upload your documents to your file.

With this new method, YOU upload the documents!

Remember: You can still apply for an SBA Economic Injury Disaster Loan (EIDL) through December 31st.

IF your loan was declined or you did not receive sufficient funds to help you through this crisis you can request a Reconsideration from SBA.

See our video on How To Request a Reconsideration, including How To Write an SBA Reconsideration letter.

Our client received the email and within an hour we had uploaded the requested documents. Notice in the email: the STATUS of your….has been UPDATED.

In this case, the loan had previously been declined by SBA.

We requested a Reconsideration on October 17th; SBA responded with LIGHT SPEED on October 21st.

In the screen shot of the SBA portal website, you can see the new TAB “UPLOAD DOCUMENTS.”

If we haven’t viewed dozens of these SBA portals we wouldn’t realize what this meant as there is no other guidance on the SBA website or by email. Unfortunately, we all have to figure it out on our own. Here at Aurora Consulting, we are committed to providing accurate and timely information about the SBA Disaster Loan programs.

Stay safe! Stay well!

 

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