EIDL only $6k
I was served a collection notice on April 9 2026 by Coast Professional for an amount just over $9k with the 30% tacked on by the treasury. I originally applied for $6k as a sole proprietor.
As many others in this thread have expressed, I didn’t feel I was notified properly before my loan was transferred to the treasury. I had my senator reach out on my behalf to try and get the loan returned to SBA. The response they got back was the following:
“My research found that the loan is designated SBA Uncollectible and SBA can no longer service this loan after it is sent to the U.S. Treasury Department. Contact the U.S. Treasury Department at 1-800-289-7388 for questions regarding this loan.”
I’ve been reading about people’s experiences in this sub and seeing lots of inconsistencies around credit reporting. Of the ones I have read of being reported, the loans have been for hundreds of thousands (or sometimes millions) of dollars. I’ve also seen some reports that amount under $200k would not be reported, but there seems to be confusion around who that actually applies to.
I just got my credit to a good place and my main priority is maintaining it. As of current I have no indication of this debt on my credit report, and the debt doesn’t populate when I call the ToP hotline.
Here are some things I’m curious about:
-Does it actually matter that my original loan was only for $6k?
- If you’re in a similar situation with a much smaller loan amount, how are you handling it?
- For those that have reached out to the collections agency, have you had success in getting them to agree to a pay-and-delete to protect your credit?
- Has anyone with a lower loan amount actually seen the collection on their credit report yet?
Any insight would be very helpful!