EIDL Reconsideration: Can You Try Again After Being Denied?
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What Happens When You're Denied for an EIDL?
Potential Reasons for Denial of an EIDL Loan
You Operate an Ineligible Business
Illegal activities Loan packaging Speculation Multi-level sales distribution Gambling Investment or lending
You Have Unsatisfactory Credit
You May Have Unverifiable Information
You Aren’t an Eligible US Citizen
You Haven’t Experienced Economic Injury
Character Reasons
How Do You Start the Reconsideration Process?
Your application number Business name Borrower’s name Any information required address the reason(s) your original request was declined Any additional information that may assist in processing your request Most recent federal tax returns for the business, prior to the pandemic Tax ID/EIN or Social Security Number IRS Form 4506-T, completed and signed Copy of a voided check from your business checking account
How Long Does Reconsideration Take?
What Would Be a Good Sample Reconsideration Letter?
The Takeaway
Frequently Asked Questions
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About the Author
Su Guillory is a freelance business writer and expat coach. She’s written several business books and has been published on sites including Forbes, AllBusiness, and SoFi. She writes about business and personal credit, financial strategies, loans, and credit cards.
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