SBA Disaster Loans for Homeowners will cost you Federal Grants that are offered later.
SBA

SBA Disaster Federal Secured Loans.

The Small Business Administration (SBA) and FEMA team up and offer Federal Money in the form of a low interest rate Federally Secured Loan. SBA Manages the process while FEMA funds the money. This is good for many groups of homeowners but can cost you tens of thousands of dollars later if you are not careful.

We will expand these issues beyond local governments level of comprehension regarding the fortitude and resilience of the people.
U.S. Military members can suffer more than what the disaster caused if they sign and return the SBA Loan Closing Documents. The SBA has for years not provided the protections from authorizing loans that are 100% certain to default to civilians. For our US Military it is even more troubling because the SBA offers up to $25,000 in Disaster Loans to anyone with an E-1 pay grade. In fact, the SBA allows loans to households earning less than an E-1 ($18,090) which will cause debt burden, possible loss of a job, lost of security clearances, early discharge, etc.
Defaulting on a loan is very serious for our US Military personnel. We can not sit back and allow the SBA to give loans impossible to repay by our military service men and women.
Financial Solutions for those searching for recovery without serious debt burden.
  • Private Loans before Federal Loans. You will not have Duplication of Benefits when it's time for HUD CDBG-DR to offer reimbursements. You should be returned 70% to 100% of your total out of pocket recovery costs if you use NFIP and Private lenders for your loans or your own cash. You will need to follow your states recovery office for details but here in Louisiana going on 20 years those that didn't take the SBA Disaster Loans fared far better than those that did.
  • Solutions to fix the system have all be focused on using HUD CDBG-DR grants to repay federally secured SBA Disaster Loans. Every state that has had a declared disaster since 2010 has attempted to have rules change and with no success. Do not fall for the "Delay tactic" known as the "SBA Congressional Fix" or simply the "SBA Fix". It's a way your state delays your recovery by holding funds that would be used to pay off the SBA loans for a length of time they determine and once that time limit has been reached they create a new program and transfer the money out. Watch Louisiana OCD-DRU Restore LA group July 13, 2018 task force meeting to understand that the SBA issue is not an issue but politicians make it an issue to take homeowners assistance funds and place the money in state infrastructure and economic development. The homeowners victims of the disaster are once again victims of not having state officials work in their best interests and to use the HUD money awarded to homeowners for homeowners.
  • PUBLIC INPUT REQUEST: Thinking back when you visited FEMA and FEMA instructed you to apply to the SBA Program.
    Murray Wennerlund

    This Labor Day weekend when you have time I would like for you to think back to the visit you made with FEMA and the SBA processing center. I want to hear from all disaster states, all people told by FEMA to apply to the SBA. Share your SBA Loan story.

  • Do I have to apply for a SBA loan in order to be eligible for other Federal assistance?
    Contributor

    Yes, for certain types of FEMA assistance like ONA a very rare grant to receive. No, for CDBG-DR assistance, but be very careful of your state CDBG-DR manager, they could be a Wolf in sheep's clothing. Check your AMI, if below 80 DO NOT APPLY TO THE SBA!

  • PL 115-123 Declined Federal Assistance protection violated by SBA Data Feed Loan Decision Field status
    Contributor

    The SBA data feed field Loan Decision does not provide remedy for public law 115-123 which allows a homeowner to decline the loan which for the SBA means the homeowner cancels the loan. The Loan Decision field of the SBA Data feed does not offer Cancelled

  • Second from LAST CALL to SBA Declined Loan people from any disaster after the year 2014 and before 2023
    Contributor

    This morning while you are having a coffee or whatever you do in the morning I want you to send an email right after you finish reading this post. I want you to get serious about ending this SBA DOB Declined Loan issue with the state, every morning.

  • An estimated 3,800 Louisiana Flood Victims denied CDBG-DR Grants for simply being approved an SBA loan amount
    Contributor

    Governor Edwards is aware of Public Law 115-123 signed by congress and the president on Feb. 9, 2018 which states that individuals that declined to accept assistance from the SBA will not have the SBA approved loan amount used as a Duplication of Benefits

  • U.S. Small Business Administration has Declined my SBA Disaster Loan - You are the lucky one
    Contributor

    When you reach out to the SBA Disaster Loan program to have your loan cancelled because you find you can not financially afford the loan at the monthly payment amounts they offered. Living Paycheck to Paycheck is proof SBA loan debt is not an option.

  • Risk of Bankruptcy Hundreds of Louisiana and Texas families are regretting ever applying to FEMA and SBA.
    Murray Wennerlund

    SBA continues to lower its minimum income levels. SBA during an 2018 audit by the Office of Inspector General identifies training the issue SBA offered loans to 2016 Louisiana Flood Victims that have no possible way of repaying the loan.

  • Community leaders should start taking a stand against the SBA Disaster Loan Program and FEMA delivery sequence
    Murray Wennerlund

    When FEMA tells a low income family or a moderate income family to apply to the SBA FEMA is sending that family into debt burden beyond recovery. When you thought your disaster was bad, wait one year to see what applying for SBA loans will do to LMI

  • SBA Disaster Loan Program may be your path to financial bankruptcy 6.5. THE FIXED DEBT METHOD FDM
    Murray Wennerlund

    After a disaster money becomes the top priority. We have lived as a nation of people that believe money spent will be money earned at a future date. The SBA believes that as well, they actually calculate your future pay raises when offering disaster loans

  • How the Federal SBA Loan program for Homeowners places more debt and puts at risk recovery efforts.
    Contributor

    The SBA Loan Program will harm every American Household after a declared disaster for one simple fact. The Federal SBA Loan Program does not take into consideration any current income to expense ratio for the victims of the disaster.

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  • FEMA-4382-DR California Amendment No. 1 to Notice of a Major Disaster Declaration of August 4, 2018

    Supervisor O.

    FEMA-4382-DR California Amendment No. 1 to Notice of a Major Disaster Declaration of August 4, 2018

    Read
  • PUBLIC INPUT REQUEST: Thinking back when you visited FEMA and FEMA instructed you to apply to the SBA Program.

    Supervisor O.

    PUBLIC INPUT REQUEST: Thinking back when you visited FEMA and FEMA instructed you to apply to the SBA Program.

    Read