How to apply for SBA EIDL reconsideration if your SBA loan application is denied?

SBA EIDL reconsideration will apply for those companies that are owned by foreign individuals who are on a variety of non-immigrant & pursuing immigrant visas. But it also applies to the companies that are owned by US citizens and Green Card holders.

The most important point is to take advantage of the reconsideration process, the appeals process and any other appeal that is needed in order to reach a final decision in your case from the person with the most authority to reach such a decision.

If you have received an e-mail from the SBA with a denial letter of your EIDL Loan, you must do the following:
1. You must submit a request for reconsideration. The request for reconsideration must be sent to the SBA Loan Office via fax, e-mail or mail. The six months period is calculated from the date listed on your denial letter and not from the date when you received the e-mail with your denial letter.
It is recommended to submit a request for reconsideration as soon as possible and you do not wait the entire six months period to submit a request for reconsideration.
You need to address the reason for your denial in your letter for reconsideration and, also, attach evidence, any document and information that can help your loan officer overcome the denial and approve your EIDL Loan.
Also, in the request for the consideration address any arguments and any issues you have & answer to all the correspondence you have received from the SBA.

2. If your request for reconsideration is not going to be successful and it is denied for a second time, you should appeal directly with the Director of the Disaster Assistance Program.

The decision on your appeal with the Director is a final decision, unless the Director does not have the authority to approve the EIDL Loan or the Director forwards your case to the Administrator for Disaster Assistance.

If you are not successful, you can consider legal actions and you can consider obtaining relief from the Appropriate Court.

Find more details here: https://malesculaw.com/how-to-apply-for-sba-eidl-reconsideration-if-your-sba-loan-application-is-denied/

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