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Maximizing Your Chances of Approval:
Top Tips from ERC Financing Experts

how to get your erc money faster

If you’ve already submitted your ERC refund claim and are planning to apply to a lender for an ERC advance instead of waiting 6 to 12 months for your check from the IRS, READ THIS FIRST before you submit your application, to EXPEDITE the process and maximize your chances of approval:

   1. Complete ALL Initials and Signatures on Your Funding Application

In completing your funding app, make sure ALL required initials and signatures are filled in including those on Forms 8821, 7216. Also make sure all required signatures are in WET INK. Failure to “dot all the eyes and cross all the T’s” may cause delays in the application process.

   2. Include ALL Corporate Documents Required by Your Lender

It’s essential to include all corporate documents required by your lender, such as articles of incorporation, operating agreements, bank statements, IRS EIN letters, and of course, a complete copy of your ERC Refund Claim mailed to the IRS, including PROOF of submission.

   3. Pull a Copy of Your Personal Credit Report

Your personal credit score is an essential factor for ERC financing approval. Pulling a copy of your credit report from all three bureaus will enable you to determine upfront where you stand as most ERC lenders have a minimum required credit score for approval

erc advance money documents needed
 
   4. Submit ALL Required Documents at Once

Before submitting your application, make sure you have compiled ALL required documents from the lender’s checklist. Double-check to ensure that you’ve included everything, then submit all the required documents at once.

   5. Find Out Your Lender’s Approval Criteria

It’s crucial to find out your lender’s approval criteria BEFORE submitting your application package. Knowing the lender’s criteria will help you get an idea on your chances for approval. At a minimum, it will identify approval issues to address BEFORE you submit your funding app package.

   6. Disclose Any Potential Approval Issues Upfront

If you know of any potential approval issues, be upfront with your lender before submitting your application package. It will reduce delays that could hold up the approval process later.

   7. Have Proof of Submission of Your ERC Refund Claim Package

Make sure you have a copy of the proof of submission of your ERC refund claim package. Your preparer should provide this document, and it’s essential to have it on hand when applying for financing.

   8. Know the Minimum Ownership Required on Your Application

It’s essential to know the minimum required ownership that needs to be reflected on the funding application by your ERC lender. Ensuring required owners are on board upfront will help avoid delays in the approval process.

   9. Ensure Your Business Registration is Active and in Good Standing

Before submitting your application, make sure your business registration is active and in good standing in your state. If your business registration is not in good standing, it may cause delays in the approval process.

   10. Call ERC Funding Network for Assistance

Applying for ERC financing can be a complex and lengthy process, but it doesn’t have to be. Consider calling the ERC Funding Network for assistance. They can help you navigate the application process, and their team of experts can answer any questions you may have. Call Gerald Watson at (888) 284-3339 for more information.

The ERC financing application process can be overwhelming, but following these ten tips can help expedite the approval process. Remember to stay organized, have all the necessary documents, and be upfront with your lender about any potential issues. And if you need help, don’t hesitate to call the ERC Funding Network for assistance.