After you submit your completed SBA loan application, you may wonder how to check the status of your loan. This blog post will explain the different ways you can check on the status of your loan and what to do if you have questions.
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Go to the SBA website
If you want to check the status of your SBA loan , you will need to go to the SBA website . From there, you will need to provide your personal information and your loan information. Once you have provided this information, you will be able to see the status of your loan.
Enter your personal information
The first thing you need to do is head to the SBA website and click on the “Get Help With Your Loan” link. From there, you’ll need to provide some personal information, including your name, address, phone number, and email address. You’ll also need to provide the last four digits of your social security number and your date of birth.
Enter your loan information
The first step to checking your SBA loan status is to visit the SBA website. From there, you will need to enter some basic information about your loan. This includes your name, address, and the date of your loan application. You will also need to provide the last four digits of your Social Security number.
Check your email
If you applied for an SBA loan , you should have received an email with your SBA application number and a link to check the status of your loan. If you cannot find this email, you can go to the SBA website and click on the “Check Loan Status” link.
Check your spam folder
If you haven’t received an email from the SBA after applying for your loan, the first thing you should do is check your spam folder. The email might have been flagged as spam and moved to that folder by mistake. If you find the email in your spam folder, be sure to mark it as “not spam” so that you don’t miss any future messages from the SBA.
Check your inbox
The first step is to check your inbox for an email from the SBA. If you didn’t receive one, there are a few possibilities.
-The most likely scenario is that your loan hasn’t been approved yet. The SBA is still processing applications and you should hear back soon.
-It’s also possible that your email address was entered incorrectly on your application. If this is the case, you can try calling the SBA directly at (800) 659-2955 to update your information.
-Another possibility is that you applied for a disaster loan through the FEMA website instead of the SBA website. Unfortunately, FEMA does not offer disaster loans for small businesses at this time. You can learn more about FEMA’s disaster assistance programs here.
If you’ve checked your inbox and don’t see an email from the SBA, don’t panic! There are a few other ways to check on the status of your loan application.
Check your credit report
The first step in checking your SBA loan status is to check your credit report. This will give you an idea of where you stand in terms of your credit score. You can check your credit report for free once a year at annualcreditreport.com. If you find that your credit score is not where you want it to be, you can work on improving it by paying your bills on time and keeping your credit card balances low.
Pull your credit report
One of the best things you can do to ensure smooth sailing during the SBA loan process is to check your credit report in advance. This will give you time to correct any errors and raise your score if necessary.
You’re entitled to a free copy of your credit report from each of the three major credit bureaus every 12 months. You can request them all at once or stagger your requests throughout the year.
Once you have your reports, comb through them carefully to look for any errors. If you find any, dispute them with the credit bureau in writing. Include documentation of the error, such as a cancelled check or letter from a creditor.
You should also take this opportunity to look for any red flags that could make it difficult to qualify for a loan, such as late payments or excessive debt. If you find anything that needs to be addressed, start taking steps to improve your situation before you apply for a loan.
Check for any inquiries
Checking your credit report is a good way to see if your loan application is being processed. If you see any inquiries from the SBA on your report, then your loan is being processed and you should expect to receive funding soon. If you don’t see any inquiries, then your loan may not be approved.
Check your credit score
Your credit score is a three-digit number that reflects the information in your credit report. Lenders use your credit score to help them decide whether you’re a good candidate for a loan. A high score means you’re likely to get approved for a loan and enjoy a lower interest rate. So it’s important to know your score and take steps to improve it, if needed.
You can get your credit score from several sources, including credit card issuers and websites like Credit Karma, myFICO and Credit Sesame. Some lenders also provide this information on customer statements.
Once you know your score, you can take steps to improve it. For example, if you have a high balances on your credit cards, pay down those balances to improve your score. You can also dispute any inaccurate information on your credit report with the credit bureau.