EIDL Grant – Some interesting inside information for anyone curious on exactly how the process works. It seems it was outsourced to a private company called RER Solutions, along with other interesting facts. If you didn’t get the grant this might be useful information as to why.

by cue378

I see a lot of messages about confusion surrounding this process. Recently, in a lawsuit the SBA was forced to disclose information about exactly how the process works including the fact they outsourced it to a private company. I suppose this explains why they don’t seem to have much control over it.

Some highlights from the documents:

-RER Solutions contracted by SBA for decision logic and processing of EIDL Grant

-Full capacity processing of grants is 109,789 per day, starting on 4/16 minus two days for technical issues.

-RER sends approval recommendations to SBA, which then transmits to treasury for disbursement 5 days a week.

Logic for approval is as follows:

Verification:

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Fraud Checks:

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Payment Logic:

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Source materials:

www.dropbox.com/sh/61ka9y8non468as/AADnqrqTG_f44k-28ZSGr017a/15-4%20-%204-29-20%20declaration.pdf?dl=0

www.dropbox.com/sh/61ka9y8non468as/AAC8ycMX0N9koofEK0daNrKEa?dl=0&preview=15-2+-+4-29-20+-+declaration.pdf

 

 

Disclaimer: This is a guest post.