My application has been stuck in Submitted to SBA but what does this mean?
The SBA is issuing a significant number of validation requests (also known as error codes) on a high volume of loan applications. These errors are reported automatically when an application is submitted into the SBA processing queue. Many of these are what is known as 'validation errors' which are basically automatic responses that the SBA issues when an application is submitted. When one of these errors occurs, you will generally see the message appear on your Biz2Credit dashboard, along with suggested next steps you can take to resolve the error.
As a result of these errors, some applications may show a status of Submitted to SBA for a prolonged period of time without advancing to the next stage. If this has occurred in an application you have submitted, you may see an error message on your dashboard (see our entry on resolving SBA errors) or you may contact customer service to find out the particular status of your application.