By Murray Wennerlund published 5-18-2022 updated 5-26-2022
Community Development Block Grant Disaster Recovery grants are to help prevent you from being homeless. They are grants, not loans that will assist you with repairs of your home after a disaster and only if you were declared to have major to severe damage to your home.
IV.A.1.b. Declined or cancelled subsidized loans.
The amount of a subsidized loan that is declined or cancelled is not a DOB. To exclude declined or cancelled loan amounts from the DOB calculation, the grantee must document that all or a portion of the subsidized loan is cancelled or declined.
(i) Declined SBA Loans: Declined loan amounts are loan amounts that were approved or offered by a lender in response to a loan application, but were turned down by the applicant, meaning the applicant never signed loan documents to receive the loan proceeds.
CDBG-DR grantees shall not treat declined subsidized loans, including declined SBA loans, as a DOB (but are not prohibited from considering declined subsidized loans for other reasons, such as underwriting). A grantee is only required to document declined loans if information available to the grantee ( e.g., the data the grantee receives from FEMA, SBA, or other sources) indicates that the applicant received an offer for subsidized loan assistance, and the grantee is unable to determine from that available information that the applicant declined the loan. If the grantee is aware that the applicant received an offer of loan assistance and cannot ascertain from available data that the applicant declined the loan, the grantee must obtain a written certification from the applicant that the applicant did not accept the subsidized loan by signing loan documents and did not receive the loan.
Low and Moderate income households should never sign for any SBA Disaster Loan without consulting CDBG-DR
Homeowners often sign for SBA loans because it sounds like the best offer. For personal property replacement loans, yes, for home repair loans no. No if your household is 80% AMI or below which is low to moderate income. HUD CDBG-DR for home repair.
by Murray Wennerlund published 5-18-2022 updated 5-26-2022 13 seconds read
SBA Disaster Loan Program the Duplication of Benefits story you heard when it was too late.
Once you sign your SBA loan agreement for your disaster loan you also signed away any Grant money that you may have been eligible for at a later date. The key is never take a loan when you qualify for a grant but the grants come after the loans.
by Murray Wennerlund published 1-15-2022 updated 2-14-2022 15 seconds read
Louisiana State Representative Edward Ted James II SBA Regional Administrator District 6 South Central
First SBA announcement for the new year that may bring a shakeup to the disaster lending program. Or will Mr. James simply abandon the idea of creating a lending program designed to assist disaster recovery efforts and keep things as they are?
by Murray Wennerlund published 1-2-2022 updated 2-14-2022 13 seconds read
SBA Economic Injury Disaster Loan (EIDL) Program regulation changes Sept 8, 2021
Recent changes are: eligible uses of the loan proceeds, business size standard, maximum loan limits, appeal of application that has been declined for a second time.
by Murray Wennerlund published 10-3-2021 updated 4-18-2022 8 seconds read
Hurricane Ida Presidential Declaration of a Major Disaster for the State of Louisiana
The Small Business Administration on 09/03/2021 published to the Federal Register a Notice of the Presidential declaration of a major disaster for the State of Louisiana FEMA-4611-DR, dated 08/29/2021 for Physical Damage and EIDL
by Murray Wennerlund published 9-7-2021 1 min. 4 seconds read
TruckAndTools.Com - Google News
Read full articles from TruckAndTools.Com and explore endless topics, magazines and more on your phone or tablet with Google News. TruckAndTools.Com - Google News.
American Rescue Plan Act Duplication of Benefits concerns and alerts
SVO Grant is a duplication of benefits with the SBA EIDL and any PPP Draw. A duplication of benefits occurs when your business including self-employed gig workers receives financial assistance which can be in the form of federal secured loans
by Murray Wennerlund published 4-8-2021 updated 1-15-2022 3 min. 37 seconds read
American Rescue Plan Act of 2021 SEC. 5002. TARGETED EIDL ADVANCE.
EIDL Advance is to make payments to covered entities that have not received the full amounts to which the covered entities are entitled under section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act.
by Murray Wennerlund published 3-28-2021 updated 4-25-2021 5 min. 40 seconds read
We have hundreds of homeowners looking for experienced trade professionals. We only ask for proof you are who you say you are. It's time you publish your work, from start to finish and show details so we can all see your quality. Homeowners are sick and tired of day labor contractors. Follow this link to create your account.
SBA Disaster Recovery Loans Group is teaming up with financial, tax, and loan processors.
The COVID-19 pandemic has forced hundreds of small business owners to search the internet for DIY assistance with SBA and US Treasury programs. From the CARES Act we will merge into the American Rescue Plan of 2021 with proper business planning.
by Murray Wennerlund published 3-18-2021 updated 4-26-2021 1 min. 10 seconds read
SBA Targeted EIDL Advance Grant
COVID-19 Targeted EIDL Advance was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. The Targeted EIDL Advance provides businesses located in low-income communities.
by Contributor published 1-28-2021 2 min. 26 seconds read
LA, FL, TX, PR, NC are receiving billions in US taxpayer dollars to mitigate against future flood disasters. We are looking to help your county or parish find the best clearing and dredging people. Contact us about your experience.
Ask us about H.R. 133 Section 324 titled Save Our Stages (SOS) Shuttered Venue Operator Grants
Section 324 Summary of H. R. 133 Save Our Stages (SOS) Shuttered Venue Operator Grants Questions with Answers. Be sure to submit your question using the form near the bottom of this article. I will be updating this section as changes are published
by Murray Wennerlund published 1-26-2021 updated 2-10-2021 14 min. 32 seconds read
Restore Louisiana Mobile Home MHU Replacement Policy published 7-17-2019
Frequently Asked Question
Louisiana homeowners with major to severe damage from hurricane Laura or Delta must document repairs.
Frequently Asked Question
Ineligible Due to Non-Responsiveness and Ineligible Due to Failure to Provide Required Documentation
Frequently Asked Question
Does the Restore Louisiana OCD-DRU HUD Grant program offer a Scheduled Draw payment?