TCG participated in an SBA meeting with stakeholders today. Here is what I learned:
There appears to sufficient funding to award all grants that have been submitted provided they are eligible. The SBA continues to encourage entities to complete any unfinished applications.
- Notifications from SBA: A number of applicants that have completely submitted applications have recently received SBA notices erroneously stating that the application has been started but not submitted. Emails also went out asking applicants to confirm their Customer File Number (CFN). Turned out that this information was not available when the email was sent, and it is now. The compliance deadline was removed. The SBA is looking into what may have caused the issuance of any erroneous messages and advises that applicants should log into the portal to confirm the accurate status of an application. As to further possible notifications, a direct email will be sent to an applicant if the applicant is on the "Do Not Pay" list, a Form 4506-T revision or further correction is needed, or if there is an announcement of an award.
- Form 4506-T: As most applicants are now aware, the SBA issued updated guidance for completing the Form 4506-T after most applicants had finished the submission process. One of the most substantial changes was to advise that applicants should not include the prefix "DA" when completing the customer number. The SBA has clarified that the agency will fix this for applicants that had already submitted the Form and that applicants will not be asked to resubmit the Form 4506-T for this reason alone. The SBA is also aware that the range of titles available for the individual filing the Form may be too narrow and is coordinating with the IRS to address this issue. Today, the SBA issued new instructions for action to take if an applicant receives a "No Record of Return" notice.
- Timing for Grant Awards: The SBA expects to begin issuing notifications of Priority 1 grant awards this week. The Priority One 14-day grant period is followed by the Priority Two 14-day grant period, after which the SBA will begin administering the remaining eligible grants in the order in which applications were received. While applications are reviewed on a first-come, first-served basis, each application may take a different amount of time to review, depending upon the volume of material submitted and whether further action will be needed by applicants. For those comparing notes with their peers' timestamps, the portal may list the application status as "submitted," "under review," or "under final review," without complete symmetry with the order in which applications were received, as a reviewer may initiate review without updating the status, and the "under review" and "under final review" process may take varying amounts of time for each application.
- Technical Help Line: The SBA is aware that the technical help line (800-659-2955) does not always yield the answers needed and is making improvements to address ongoing concerns. SBA has consolidated all tech support into a single tier and is calling in Salesforce when needed. If you continue to experience problems with tech assistance, please let me know so I can communicate directly to the SBA.
- New FAQs are expected to be issued in the next 24 hours.
In additional news:
- The House Small Business Committee will be holding two hearings this week:
We hope that SBA will share some data regarding applications during these hearings.