Case Study: Gaurang Patel

Gaurang had a brand new hotel placed in service in October of 2019, during the slowest season for the hotel industry, when his EIDL was declined for an “unverifiable reason.”

We prepared a reconsideration package with all the relevant information explaining their eligibility for the loan and got approved for $43K.

After filing another reconsideration for an increase in the loan amount with adequate justification, Gaurang’s hotel was approved for the full $150,000 of the EIDL loan.

  • Brand New Hotel placed in service in October 2019

  • EIDL declined for “unverifiable reason”

  • Since new hotel, minimal revenue in months Oct. 19-Mar 2020 (this is the slowest season for the hotel industry)

  • We prepared reconsideration package with all relevant information explaining their eligibility for the loan

  • Got approved for $43K

  • Filed another reconsideration for increase in loan amount with adequate justification

  • Got approved for full $150,000 of EIDL Loan

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