Mortgage Loan

FREE $10k SBA Grant: No One Is Getting Paid? (Critical Update)





Did you apply for your FREE $10,000 SBA Emergency EIDL Grant?? I have some critical updates for you guys! For those that don’t what this is… I’ll go ahead and break down the FREE $10,000 SBA Grant for you and how to apply for it.

Application Link:

How To Apply Video:

So here’s the breakdown of the SBA Emergency EIDL Grant (FREE $10,000).

How to Pay off Your Mortgage in 5-7 Years (on average):

The SBA EIDL Grant is part of the Stimulus package passed by the U.S. House and Senate, The CARES Act. Under Section 1110. Emergency EIDL Grants, the CARES Act pretty much spells out a FREE $10,000 grant to be issued out to all applicants who apply for the EIDL (Economic Injury Disaster Loan). This program has been around for awhile but the CARES Act has expanded and waived requirements to allow more businesses apply for the loan.

As part of the loan application process, you can be considered to receive a Grant of $10,000 in 3 days.

Well, there’s been an issue with this and that is… people aren’t getting their money within 3 days… I personally applied for the SBA Grant last week but I still haven’t gotten my $10,000 check either! So What’s going on???

It looks like the SBA is not ready to handle the sheer volume of applicants as well as the infrastructure to pay out the grant to the applicants. I mean think about it… There’s potentially MILLIONS of applicants right now and it’s clear that the SBA and its approved lenders aren’t prepared to dish out the payments right now.

There’s even a letter from the U.S. Senate to the SBA asking if they’re prepared to handle the payments…

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40 comments

  1. Actually people are getting their money. One of my friends who also applied literally got hers in the mail Monday afternoon she applied 2 weeks ago. 8 days later I applied. When I called the gentleman said the SBA was running 14 days behind because of the overwhelming amount of applications. He was really polite about it and apologized so many times during our conversation.

    Reply
  2. I read something that said the account will be funded 3 days after processing approving the application. Then I googled how long does it usually take the SBA to process application and it said it usually takes up to 90 days 🤦 omg I hope not…..

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  3. Where on the SBA website does it say the up to 10k based on the number of employees? Is there a link? I couldn't find that information on their website.

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  4. It never said 10k!! It states no more than 10k. Within 3 days of a successful application..

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  5. I got through… 1276 callers in front of me.. waited one hour. Said takes about 3 weeks to process. Says i will get a email that prompts me to accept the amount given and after that can touch basis about the other loan.

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  6. I haven’t got anything yet.

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  7. still don't understand why SBA put "3 days" term earlier…it was so obvious that they didn't have the system to process this within 3 days. that was joke to begin with.

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  8. None here yet either. Applied on March 31st and no email, no nothing so far.

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  9. I'm not sure what this money is for..I'm self employed dog groomer,no employees,not working..do I get money & if so for what?

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  10. Read the information below. The online system didn't give a spot to request a specific amount, but prior to that going live, I applied through the .PDF and submitted the advance request form, where I requested $10,000. I would recommend that everyone fill out the Advance request document.

    (e) Emergency Grant.—

    (1) IN GENERAL.—During the covered period, an entity included for eligibility in subsection (b), including small business concerns, private nonprofit organizations, and small agricultural cooperatives, that applies for a loan under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) in response to COVID–19 may request that the Administrator provide an advance that is, subject to paragraph

    (3), in the amount requested by such applicant to such applicant within 3 days after the Administrator receives an application from such applicant.

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  11. Good information!

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  12. Is there any need to re-apply? I heard one version has been nullified.

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  13. The only person getting paid is this guy . more people looking at his video more money he makes !!! ,)

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  14. I have applied for both the EIDL loan and the ppp. Since I'm a new business (started in January) they're not trying to give me any money. They want paperwork from last year which I don't have.

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  15. CLEARLY this allows SBA the FLEXIBILITY to give as much as they desire as long as its under 10K!

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  16. I talked with a girl from the SBA yesterday and she said 3 – 3.5 Weeks is more realistic with how many applications are coming in. PS… I must of called at the right time I didn't wait more than 2 mins for her to answer – I followed the prompts to say YES Corona Virus Then It was #3 for help with application & then hit 0# took me right to an agent hope this helps 🙂

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  17. I called the SBA today for an update on my grant status. I waited on hold for a bit over an hour. They explained to me that high volumes are preventing them from meeting the initial 3 day timeline, and was advised I'd receive an email in 1-2 days on my approval status (I applied on 4/1). She advised my email will contain the amount I'm approved for and I'll be assigned a loan officer. Payment will be made in disbursements, not in full, because they are trying to get money in people’s hands as fast as possible.

    She also said people are mislabeling the EIDL, calling it a grant when it's actually an advancement on a loan that doesn't need to be repaid. She said payout depends on 12 month revenue (or ability to repay) and credit history. She didn't mention number of employees being a factor. She told me there was nothing else she could do, and to speak with my loan officer when I get the approval email. I'd be interested to hear others' stories who have spoken with the SBA.

    Reply
  18. This is so upsetting. I Iost everything, I am now financially crippled, and thought there was hope. Stuck in a lease ageement I cannot get out of or pay, lost all 3 of my part time jobs, can't collect unemployment, looking for a new "essential job" now.

    Reply
  19. From what I've heard they realize they made a huge mistake after promising basically anyone with a business they would get $10,000. Now they're 'modifying" the terms.

    It's going to be part of the EIDL Loan package and you're literally going to have to prove damages and that you have payroll docs. No "free 10k"

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  20. JUST ANOTHER CLICK BAIT VIDEO. DON'T WATCH AND THUMB DOWN YALL.

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  21. Its trash… But i do need to address the fact u applied for it…. Are u a full time streamer? If so how has ur business been effected by the pandemic? U can make content from home… There is zero reason for u to get the grant or loan. If im wrong and u have another job/buisness i take back my previous statement and apologize

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  22. Like everything with the government. It’s slow and inefficient.

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  23. I got 3600

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  24. What IF we didn't check the "yes I want the 10k" box?

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  25. When I called the number for the application they said with all the applications its taking a minimum of 3 weeks before 1st contact on the application..😒

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  26. The promise of a check in 3 days seemed over zealous from the start. Crisis or not, our gov is slooooow, and apparently the SBA are acting like turds.

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  27. So I can't use this free 10k to upgrade my equipment or invest in marketing as a photographer?

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  28. Wait… can a sole prop restaurant with 0 employees get EIDL?

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  29. I applied today and got a message at the end that I wouldn’t receive confirmation of my application but I was to keep a confirmation number that they gave me for my records. It also said that I would be notified via email when my application is processed in about a week. I am honestly not sure what to think.

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  30. Who's Got My Money? Thanks for the update Sam.

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  31. Are LLC eligible for the loan

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  32. Can I apply for the 10k grant or do I have to do both to be considered

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  33. We really need this, no unemployment set up, no stimulus, no grant, they don't even email you as a confirmation or response to email.

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  34. Is this grant or loan the same as the PPP program my bank is offering.

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  35. When I called the SBA today to find out where mine is at, it was going to be a 90 minute wait. Then they told me I was number 1,862 in line for the next rep.

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  36. Bruh, you need a pop filter on your mic.

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  37. This is So good. Don't stop. also, let's be friends xD

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  38. No where have I seen this said but I’ve confirmed with SBA 3 times. You have to use Internet Explorer. Talk about making changes and not informing the public. And no neither on their website.

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  39. But do you really need the Grant ? Or is it a grab for Free stuff ? Just curious not hating

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  40. They lied. Now it’s 1k per employee and who knows when. Sole props and small bizzes are screwed. It is too a lie. Law says NOTHING about per employee…..in fact it says you don’t need ANY employees. They Lied.

    Reply

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