All Forum Posts by: Chad C.

@ken 

@Ken Olson 

I looked for a tenant today and could not find it. I’m thinking once it gets signed by the president the next day it will be available to apply, might be Monday.

@Bob M. yea it’s cheap money that I would have borrowed anyway to purchase more properties, that or refinance old loans and drop flood insurance. It’s not really a whole lot of money. But who knows, if I can’t eventually legally evict non paying tenants, I might actually need it.

@Bob M. 100%. This was the suggested request amount from the OP I believe. 1 years working capital. Maybe it was coincidence, but I was granted eligibility for that amount, which was also what I requested.

EIDL Funds deposited this morning 3 days after docusign, no human contact.

@Account Closed I received an email yesterday to docusign, and I did.  I did not see much information in the loan documents how disbursements are handled, just that they are at the discretion of the SBA. Not much detail on what it can’t be used for, but if it’s used incorrectly penalties are one and a half times the loan. The did have  detail about books and records needing to be kept and presented if and when needed. I think there is a sentence about receipts being possibly needed before disbursements, so maybe we will have to work more closely with a real person to get disbursements.

@Juan M. Yes, I applied on March 30 applicant number 107,xxx and on 14 April received a $1000 deposit, and the email you described. The third button to sign papers was not available, and the status change to processing loan.

@Chad C. And it’s not likely that the mobile home movers will move the home unlss everything is out of the home and secured.

@Mashika Patrick it will cost you $3000 to move a single wide mobile home whether it’s 10 feet or 10 miles. Your pay $1000 for electrical and plumbing to be re-installed . And if the height is the same you can reuse the steps and skirting. There might be permit issues as well. If you’re in a flood zone you might have to get a Elevation certificate determining the height of your home.

@David Hulit what does “it can be used for fixed debts. It cannot be used to refinance old debt”

How do they even track what you use it for?

@C. Scott Forrest When you say you spoke to someone, was that someone following up with the application, or did you apply over the phone?