SBA 7(a) Loans up to $500k Now Available

Guide: ERC Application Status

How to Check your ERC Application Status

To check your Employee Retention Credit (ERC) application status, log into the Portal and locate the ERC tile.

Your current application status will appear with a white font and icon within the Process Timeline.

How to Interpret your ERC Application Status

Application Incomplete

Your application has not been submitted to the NEWITY team. Please return to the Portal and continue through each section of the application as outlined in the ERC Journey. Upon completion, please click submit to send NEWITY your application file.

Estimated Duration: 15 minutes

Calculation Under Review

You have successfully submitted your application. You will be assigned a dedicated Relationship Manager who will review your application and begin calculating your ERC refund amount. Please look out for an email from a @newitymarket.com email address for next steps.

Estimated Duration: 3 to 5 business days

Document Upload Needed

Your relationship manager has requested additional documentation to accompany your application. Please check for an email from your Relationship Manager outlining the list of required documentation. Note, NEWITY emails are sent from a @newitymarket.com address. Please log into the Portal to upload the missing files.

You can advance to the next step by providing the required documents as quickly as possible.

Contract Sent for E-Sign

Your contract to allow NEWITY to complete your ERC filing has been sent for your e-signature. Please look for an email from [email protected] containing the engagement letter. You can also return to the Portal to access the document for e-signature directly on your Portal dashboard.

You can advance to the next step by reviewing and e-signing your contract as quickly as possible.

Preparing Closing Documents

Your e-signed contract has been received and the NEWITY tax team is preparing the final closing documents for your e-signature and filing.

Estimated Duration: 1 to 2 business days

Closing Docs Sent for E-Sign

Your tax forms and any supporting documents have been sent for your e-signature. Please look for an email from [email protected] containing your closing documents. You can also return to the Portal to access the documents for e-signature directly on your Portal dashboard. Once signed, NEWITY will submit these tax forms and any supporting memos to the IRS on your behalf.

You can advance to the next step by reviewing and e-signing your closing documents as quickly as possible.

ERC Filed and Awaiting Return

Your tax forms have been submitted to the IRS for processing. Look out for a FedEx tracking number from your Relationship Manager, confirming the delivery of your tax forms to the IRS. Once the IRS has received your tax forms, please look out for a paper check from the IRS to your provided business address.

Estimated Duration: Receiving your check from the IRS is estimated to take 30 days to 9 months, pending IRS processing times.

Note: Your application may move forward and backward through the application statuses as the team prepares your ERC calculation.

To qualify for an SBA 7(a) small business loan, your business must be:

  1. U.S.-based and operated
  2. Owner supported / owner funded
  3. Eligible per the SBA’s requirements

Your loan amount will determined by the business’ average annual revenue, FICO score, and years in business