In this newsletter, you can learn more about:
1. There are only two actions that stop on Dec. 31
2. SBA will continue to process applications received on or before Dec. 31 until funds are exhausted, including:
- Pending loan applications, loan increase requests, applications in reconsideration/appeal
- Targeted advance applications and reevaluation requests
3. You can still make certain requests after Dec. 31 including:
- Requesting more funds
- If you need additional funds and have not reached your maximum loan amount that you are eligible for SBA will accept requests for loan increases for up to 2 years from the origination date of your first loan, or until funds have been exhausted.
- Request reconsideration of a declined loan
- You have up to 6 months from the date of decline to request reconsideration, or until funds are exhausted.
- Request an appeal of a declined reconsideration request
- You have up to 30 days from the date of the declined reconsideration request to request an appeal, or until funds are exhausted.
- Request reconsideration of a declined targeted advance decision
- You have up to 6 months from the date of decline to submit one request reconsideration, or until funds are exhausted.
What should you do?
If you have already applied:
→Don’t panic and be patient. There are still billions of dollars in funds available
→Be thorough and responsive. Monitor your portal and emails for actions and requests from SBA. When requesting reconsideration on a decline, take the time you need to craft a clear and thorough response with adequate supporting documentation.
→Do get help. Tap into SBA’s network of resource partners who can provide assistance at not cost to you. They can help you understand what is required, review your documents, and help you respond to the SBA as needed. craft a response. Find a business advisor near you.
If you have not applied:
→ If you’ve been thinking about applying but haven’t, don’t wait any longer – apply now!
Are you a small business owner with an amazing story to tell?
Or, do you know a small business that deserves recognition? If so, submit your nomination today for the 2022 National Small Business Week Awards.
The deadline to compete is Tuesday, Jan. 11 at 12 p.m. PT. Submit your nomination early!
The SBA Seattle District Office wishes each of you a safe and happy holidays filled with joy and time with friends, family, and loved ones.
Pictured above from left to right: (row 1) District Director Kerrie Hurd, Deputy District Director Melanie Norton, Spokane Branch Manager Joel Nania, Lead Marketing and Outreach Specialist Michelle Genovese, Lead Business Opportunity Specialist John Dicus. (row 2) Business Opportunity Specialist Ana Singh, Lender Relations Specialist Cathy Griffith, Marketing and Outreach Specialist Janie Sacco, Administrative Officer Mary Ann Gamalinda, and Economic Development Specialist Desiree Albrecht.
24/7 On-Demand Learning
Tuesday, Jan. 4
8 a.m. | Accelerating Your Online Business
9 a.m. | Intro to Business
Thursday, Jan. 6
Friday, Jan. 7
2 p.m. | Creating a Career & Life Portfolio
2 p.m. | Get Started
Tuesday, Jan. 11
10 a.m. | Launch & Grow (8 week series)
1:30 p.m. | New Contractor Overview
Wednesday, Jan. 12
8 a.m. | Business Loan Preparation
10 a.m. | Employer Guide to Workers’ Rights
Thursday, Jan. 13
* SBA’s participation or support is not an endorsement of any product, service, or entity.
Article Source: https://content.govdelivery.com/accounts/USSBA/bulletins/3022cf6