Is your EIDL loan stuck in processing? Keep calm and follow these steps.
The EIDL program was developed by the Small Business Administration (SBA) to help companies (and individuals) in recovering from declared disasters such as hurricanes or floods.
A lot of people have been getting issues with their EIDL loan applications. The recent complaint is their loan getting stuck on processing. “Stuck in Loan Processing – But Approved?” Someone said on Reddit.
Another said: “Was “approved” by loan officer July 30th in this glitch since and contacted CS 8/2 to have this escalated. Have contacted just about everyone but the president. Has anyone been funded being stuck in this spiral?”.
What To DO
When you are in this scenario, do not file a duplicate EIDL application; instead, focus on your existing application and work it into a conclusion.
You will complicate things if you submit a duplicate application, and they will not contact you to check and validate.
Because your second application is a duplicate, the SBA will cancel it.
If your loan was denied, you must go through the reconsideration process for the original initial application.
GSS2 Stimulus Update: Chase, Wells Fargo Deposit Confirmed
Some people using Chase and Wells Fargo bank account have started to receive their golden state (GSS2) Stimulus payment.
The first payment was made on August 27 and consisted of 354 million dollars divided among 600,000 payments. Some Californians are already receiving the next round of payments.
“GSS II deposited this morning. Wells Fargo checking in.” A reddit user wrote alongside a screenshot of his payment on his bank account.
“Chase confirmed,” Another Reddit user wrote with a picture of the payment on a Chase bank account.
GSS2 Stimulus delay
The state of California have warned that some of the payments might be delayed as they “may need more review depending on the situation or information we have.”
“This could include address changes, bank account changes, etc,”.
These stimulus check payments are part of the state of California’s recently passed $100 billion budget, with governor Gavin Newsom claiming that the money is there to help those who have faced financial difficulties as a result of the pandemic.
The second round of these Golden State Stimulus payments is there to help low-income parents and self-employed workers.