FAQ#: 180 published 12-10-2019
As defined by the State of Louisiana Restore Louisiana Homeowners Program Action Plan Amendment 12 and Homeowners Manual.
Phase I: Households that have Declined and have approved but Undisbursed SBA Disaster Loans.
Louisiana OCD-DRU estimate:
Total Declined SBA loans 1,168 households for $38,660,707
Understand that these households are covered under the Public Law 115-123 updating Declined loans in HUD's June 20, 2019 Guidance.
HUD June 20, 2019 Guidance also addressed those that partially drew down SBA loans.
State OCD-DRU Estimates:
Total Partial Draw: 11 households for $220,873
Phase II: Disbursed SBA Loan Adjustments
(This is by income group)
LMI Phase II Adjustments LMI (Low to moderate income)
LMI Phase II Adjustments (80%-120% AMI)
UPDATES related to SBA Repayments using HUD Grants:
Restore Louisiana Sept. 10, 2019
I. Post-closing Phase I Applications total 242 households
Post-closing Applications by Requisition Status & SBA Amount
|Requisition Status||Count (Households)||SBA Amount|
|SBA Adjustment Paid||233||$7,570,446|
|SBA Requisition Approved by OCD||7||$251,500|
|SBA Requisition Created||1||$13,000|
|No Payment Necessary - Post Solution 2 Only Update 3 - Pullback Requested for 2 SBA Payment (Partial Draw in Phase 1)||1||$30,800|
|SBA / FIA Adjustment to be Processed under New Guidance||1||$31,800|
Note: Four applications were added to the original 242 Phase I Requisition tracking population that were previously a part of the SBA third party data NOT FOUND per eGrants. The appropriate updates have been made in eGrants and adjustments have been paid for these four applicants.
Phase I Returns from Recapture
|Returns from Recapture||Count||SBA Amount|
|Recapture Return - No Payment Necessary||2||$0.00|
|Recapture Return - SBA Requisition Approved by OCD||1||$12,895.24|
Financial Management Team Note: Three applications were added to the original 242 Phase I Requisition tracking population that were in Recapture status with $0 SBA Disbursement. Two will not require an adjustment payment because the file reverted back to the closed award (which did not include SBA). One will receive a partial payment due to other adjustments to the file and the requisition has been approved by OCD.
Status of Phase I SBA Adjustments Paid
|SBA Adjustment Checks Cleared||Count||Amount|
SBA Phase I & II Summary Update
Additional updates coming soon 12-10-2019.
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