Breaking: SBA Sends Mass EIDL Loan Decline Letters in Error (Reports)

📌 This is a developing story, check back for more developments

It's been reported that many EIDL loan increase applicants may have received an EIDL loan increase decline letter in error recently due to a system problem with the SBA. We've been unable to verify this problem, and the extent of it, but SBA operators did say this issue had affected "many" people. Here's the latest video as well as a copy of the primary letter that may have been triggered in error, although many applicants report receiving decline letters with other reasons. If you received a letter like this, comment on this video here, where hundreds of others are sharing their experience.

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Reports: SBA Sends Mass EIDL Loan Increase Declines in Error

Example: SBA EIDL Loan Increase Decline Letter

Conclusion: EIDL Loan Increases Still Face Major Obstacles

The SBA continues to face major challenges when it comes to processing millions of EIDL loan increases, and potential technical issues are only one part of it. We're awaiting news from the SBA on process changes, including any updates to the tax transcript requirements. We've given our predictions for EIDL loan approvals this week. We've also posted what to email the SBA if you're still waiting for an EIDL loan increase.

Finally, don't forget to join us next week for a live Q&A answering SBA and EIDL related questions. You can start a free 2 week trial right here to get invited to next weeks Q&A.