SBA Forms to include SBA Form 3502

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

Self-Employed and Independent Contractors 30 year term 3.75 percent SBA Disaster Loan.

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

Federal law limits Economic Injury Disaster Loans EIDL to small businesses only.

By Murray Wennerlund published 10-31-2022 updated 10-31-2022
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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
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Decline Code 43 Not eligible due to character reasons.

SBA has determined that your name here does not meet SBAs character standards.

By Murray Wennerlund published 10-31-2022 updated 10-31-2022
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Decline Code 31 Economic injury is not substantiated

Economic injury is a change in the financial condition of a small business concern that is directly attributable to the effects of the declared disaster.

By Murray Wennerlund published 10-31-2022 updated 10-31-2022
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Decline Code 35 Not located in the declared disaster area.

The damaged property must be located within the area named in the disaster declaration.

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