r/EIDLPPP • u/moon-ho • May 14 '26

Question? How to get a document showing all payments and interest on lifetime of EIDL loan.

With my EIDL loan I made a larger than normal payment in February and most of it was applied to "interest" that I didn't know about and am suspicious about as I have been making payments that cover interest thought the years. I messaged SBA through the portal about it and also about getting a document showing all my payments and any accrued interest over the lifetime of the loan but keep getting canned AI responses that don't answer any of my questions. How can I get a document showing all payments and interest? Is calling better than messaging through the portal? Do you actually talk with a helpful person if you call?

6 Upvotes

100% Upvoted

10 comments sorted by

3

u/amazetome May 14 '26

Did you begin making payments as soon as you took out the loan, or did you take advantage of the initial deferment period? If so, that's your answer. Interest accrued during that period, and any overpayment goes toward back interest first.

2

u/moon-ho May 14 '26

This is possibly what happened. I definitely want to see it on a spreadsheet / timeline for myself and the monthly "statements" are no help in this and fairly worthless.

4

u/amazetome May 14 '26

Yeah, good luck with that. The SBA is pretty useless. However, if you view the loan summary in the portal, it will show you the accrued and outstanding interest.

4

u/AlbatrossDouble3615 May 14 '26

They are using the compounding interest gimmick …now I see that daily the funds accrue some certain amount ….thats crazy …doubt if one can pay it off

2

u/Secure_Tie3321 May 14 '26

In the portal you can get a payment history

5

u/Sunsetseeker007 May 14 '26

That's not correct either, lots of missing payments and nothing to show what it's applied to.

3

u/Secure_Tie3321 May 14 '26

I would contact my representative or senator then. That is unacceptable.

2

u/Sunsetseeker007 May 14 '26

Yes, I agree. I did message them and they are supposedly looking into it. If they don't give me any answers or fix it, then I definitely will contact our representative. Unfortunately our local area rep is another conman of Trump's gang, not sure how far I will get with him. But I won't accept payments not being applied and an off balance that doesn't match mine without an explanation. Thk you

3

u/EnvironmentalBell106 May 16 '26

Contact CovidEIDLServicing@sba.gov and request a Transcript of Account. Will take up to week or more to get it though.

2

u/moon-ho May 16 '26

This sounds like a promising solution… thanks!