How to ask for reconsideration on the EIDL loan and grant
Here is how to ask for reconsideration on your EIDL loan if you were denied. I also included a letter to send the SBA if you never recieved your advance on the EIDL grant portion.
#EIDLGrant #SBALoan #reconsideration #iAllegedly
This is for Loan Reconsideration
The SBA will notify you in writing and set forth the specific reasons for the denial of your loan. Any applicant whose request for a loan that is declined has the right to present information to overcome the reason or reasons for the decline and to request reconsideration in writing. You have six months from your denial.
Try to respond directly to the denial email. This contains your application number in the title. A request for reconsideration must contain all significant new information that you rely on to overcome SBA's denial of your original loan application. Your request for reconsideration of a business loan application must also be accompanied by current business financial statements. You need to explain the use of the funds and the amount that you will need. If you sell something unique you can include photos so the loan officer can understand what you sell.
I would include projections of what the new funds would do with a description and simple financial projections. Explain the company prior to the disaster and how it affected the business. Be clear and concise and show that you have staying power to survive this for the foreseeable future.
Now, The Grant request. If you applied and never received the grant send this letter.
Send an email to email@example.com. Put in subject line: (Loan application number and the word Reconsideration)
I received denial but I did not receive my advance grant. I am writing this email to you as a representative at the SBA said that you may not have my correct bank information.
My bank information is correct and I am concerned that I have not received my advance. Here is my bank account information again: Routing Number: xxxcc Bank Account Number: xxxxccc
I am requesting that a loan officer contact me to advise when I will be receiving my advance. Phone Number: xxx-xxx-xxxx Name: xxxxxxxx (business name is xxxxxx)
EIDL Loan application numbers: 2000xxxxxxxx filed - (date) 360xxxxxxxxx filed - (date)
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Here is the EIDL Loan Office Address. If you contact them I would include your application number on a cover letter with your request.
14925 Kingsport Road
Ft. Worth, TX 76155
The 800 number for the SBA Loan Department is
The Email address to contact the loan department is
The Fax number for the SBA Loan Department is
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