Louisiana State Representative Edward Ted James II SBA Regional Administrator District 6 South Central

image

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 1-2-2022 2 min. 22 seconds read viewed 132 times.


SBA December 29, 2021, "Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America's 32.5 million small businesses in President Biden's Cabinet, issued the following statement praising President Biden's appointment of Louisiana State Representative Edward "Ted" James II as Regional Administrator for the SBA's South Central region:"

One question that should be asked of Mr. James is if he intends to take the SBA DOB issue that thousands of disaster recovery survivors experience each and every disaster to a close. Will he fight for low-income, moderate-income and average-income households in an effort to reduce disaster debt?

With more natural disasters yearly and limited federal grants the SBA disaster loan program has grown in both lending as well as defaulted loans by those that technically never should have been approved a loan.

7-13-2018, Louisiana Task Force Member 2016 floods, Rep. James: "What I have not heard, what I have not witnessed is a true fight for this duplication of benefits issue to be corrected." (Video, additional information linked here.)

SBA News Release: "When Hurricanes Katrina and Rita devastated his home state, he was among those on-the-ground helping Louisianans rebuild and recover," said SBA Administrator Guzman.

When we questioned Mr. James on 7-13-2018 regarding the SBA and Duplications of Benefits he asked where were lived. Since we were not in his district (101) he ignored us. But, one of his constituents made his feelings very clear, with a simple word (Affluent) he had Mr. James laughing while we attempted to speak with him about the thousands of SBA loans penalizing low and moderate income families. (Story here, Task Force Public Input: Citizens Proposed SBA Disaster Federal Assistance Declined Solution. and State of Louisiana accepted HUD Guidance Nov 16 2011 76 FR 71060 Duplication of Benefits policy)

We will be following the career move of Mr. James and will be publishing the SBA S.O.P. updates that penalize low income households if they do not accept the additional disaster debt burden that FEMA and the SBA demands disaster survivors do. For those without insurance, self-employed, low-income grant programs such as the HUD CDBG-DR are provided to assist in unmet needs of disaster recovery. With the SBA lending to individuals and businesses that clearly have no ability to repay a loan the SBA is setting up families to fail and possibly lose their family business and/or home.

Let's ask Mr. James if he will adjust the loan processing policies to deny loans to low income households and refer them directly to HUD CDBG-DR programs managed by state governors.

Comment | Suggestion | Feedback

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 2 min. 43 seconds read

Continue Reading


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 2 min. 22 seconds read

Continue Reading


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 6 min. 46 seconds read

Continue Reading


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

Continue Reading


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

Continue Reading


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

Continue Reading


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

Continue Reading


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

Continue Reading


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

Continue Reading


SECTION 324. GRANTS FOR SHUTTERED VENUE OPERATORS.

Eligible person or entity means a live venue operator or promoter, theatrical producer, or live per forming arts organization operator, a relevant museum operator, a motion picture theatre operator, or a talent representative that meets the following

by Murray Wennerlund published 1/11/2021 updated 1-26-2021 20 min. 1 seconds read

Continue Reading