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:
Disclaimer: This is a guest post.