If the SBA denies your EIDL loan application, the SBA will notify you in writing outlining the specific reasons for the denial. Any applicant whose request for a loan is declined for reasons other than size (not being a small business) has the right to submit information to overcome the reason or reasons for the decline and to request SBA reconsideration of the application.
To achieve a favorable outcome, a request for reconsideration must contain significant new information that was not presented in the original application to overcome the denial.
A few of the reasons for an SBA denial include:
No matter what the reason for the SBA’s denial all “Requests for Reconsideration” follow basically the same format and the SBA provides forms that make the process a little easier.
Documents to be Included for a Successful Reconsideration Decision
Depending on the SBA’s reason for denial you may need to include additional documents that support your reasoning for a reversal. Such as:
All documents need to be attached to an email individually in a PDF format, clearly named by including the form number when applicable. Once the documents are prepared, they can be submitted by putting the Application Number in the Subject Line of the email to: PDC.Reconsideration@sba.gov. You will receive a confirmation email once the SBA has received your request.
Partner, Florida CFO Group