Decline Code 34 Credit is available elsewhere.

SBA to determine whether credit in an amount needed to accomplish full disaster recovery is available from nongovernment sources on reasonable terms and conditions without creating an undue financial hardship.

By Murray Wennerlund published 10-31-2022 updated 10-31-2022

Decline Code 34 Credit is available elsewhere.

(NOTE: Use only for EIDLs.)

Federal law requires SBA to determine whether credit (based on available assets and uncompensated losses of the applicant/principal/affiliates) in an amount needed to accomplish full disaster recovery is available from nongovernment sources on reasonable terms and conditions without creating an undue financial hardship. The law calls this Credit Available Elsewhere.

Disaster loans are taxpayer subsidized. Congress intended that applicants able to provide funding for their own recovery must do so and are not eligible for Economic Injury Disaster Loans (EIDL). We analyzed your loan application and supporting financial information to determine all income, assets and debts. We concluded that (Applicant Name) has Credit Available Elsewhere and is not eligible for EIDL assistance.

Resource: SBA SOP 50 30 8

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SBA contacts assigned to HUD Guidance June 20, 2019 SBA loan payoff El Paso Servicing Office

HUD Guidance June 20, 2019 outlines who and what SBA loans will be paid in full using HUD CDBG-DR federal grants and the El Paso Servicing Office office of the SBA is managing the process.

By Murray Wennerlund published 11-1-2022 updated 11-1-2022
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SBA Repayment Reports published by phase for the State of Louisiana.

Shared information from the state of Louisiana Office of Community Development - Disaster Recovery Unit and the Department of Administration regarding the processing of US Treasury disbursements of HUD funds used to repay SBA loans.

By Murray Wennerlund published 11-1-2022 updated 11-1-2022
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Homeowners Demand SBA Status and Code Review, SBA DOB experience

The SBA Fix didnt come quick enough for those wrongfully labeled ineligible for HUD CDBG-DR grants that cover unmet needs after the disaster. Many remained homeless and are still homeless today because of the lack of concern from state managers.

By Murray Wennerlund published 11-1-2022 updated 11-1-2022
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Federal Disaster Assistance

When you are navigating the federal disaster assistance agencies your first stop should be to the TruckAndTools.Com Disaster Resources. Every disaster agency uses the same process but not every disaster agency follows strict policy and guidance. Don't go into your disaster recovery with blind trust of your federal and state agencies that are leading the push to get you sheltered and out of the program.

Decline Code 34 Credit is available elsewhere.

By Murray Wennerlund published 10-31-2022 updated 10-31-2022
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Contribute when you can.

For some households, the information I provide helps them get back in their homes. Others I've had a hand in helping them recovery from some of their disaster debt burden. In any case, when you use the information I provide and it's helpful and makes you more successful with your disaster rebuild or new construction then feel free to contribute what you can and when you can. It helps with the hours of unpaid research and reading.

Borrower may not use an oral statement of SBA to contradict or alter the written terms of this Note.

What the SBA customer representative says or what your loan officer says will not change the LAA section that is the loan note. Be sure you understand and read your LAA and understand your promissory note.

By Murray Wennerlund published 10-23-2022 updated 10-23-2022
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Homeowners Disaster Recovery and Debt Reduction Assistance Handbook eBook and Website

By Murray Wennerlund 10-19-2023

Providing Guidance for Managing Financial Burden after a Disaster.

Restore Louisiana Homeowner Assistance Program Extends Application Deadline to Tuesday, Oct. 31

By Murray Wennerlund 10-11-2023

If you know someone who applied for HUD CDBG-DR Grants and was invited to complete the application process please send them a reminder, call them, tell them Ill help them complete the application if necessary. Dont let GRANT funds go to the state!

General Contractors and Residential Builders are missing out on $157.25 to $168.00 sqft builds!

By Murray Wennerlund 9-29-2023

General Contractors snubbed 2016 flood victims when asked to construction new homes at 108/sf. Today the same builders are not responding to 157.25 plus per sqft, why?

SBA contacts assigned to HUD Guidance June 20, 2019 SBA loan payoff El Paso Servicing Office

Economic Injury Disaster Loan EIDL Self-Employed and Independent Contractors 30 year term

SBA Repayment Reports published by phase for the State of Louisiana.

Homeowners Demand SBA Status and Code Review, SBA DOB experience

Decline Code 33 Not eligible because the applicant is not a small business.

Decline Code 34 Credit is available elsewhere.

Decline Code 43 Not eligible due to character reasons.

Decline Code 31 Economic injury is not substantiated

Decline Code 35 Not located in the declared disaster area.

Borrower may not use an oral statement of SBA to contradict or alter the written terms of this Note.