180. Understanding your SBA Phase and following the HUD disbursements of funds to pay off or pay down your SBA loan 12-10-2019 SBA 180 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: <80% AMI = 172 households with $5,744,232 declined SBA loans. 80%-120% AMI = 198 households with $6,413,567 declined SBA loans. >120% AMI = 798 households with $26,502,908 declined SBA loans. 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: <80% AMI = 2 households $59,864 total SBA Loans 80%-120% AMI = 2 households $48,239 total SBA loans >120% AMI = 7 households $112,770 total SBA loans 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) Partial Draw Population (Reimbursement to SBA) 6 $321,790 SBA 100% Draw Population (Award Increase) 544 $8,858,421 SBA 100% Draw Population (Reimbursement to SBA) 1,132 $33,300,682 Total $42,480,893 LMI Phase II Adjustments (80%-120% AMI) Partial Draw Population (Reimbursement to SBA) 3 $125,500 SBA 100% Draw Population (Award Increase) 367 $5,916,248 SBA 100% Draw Population (Reimbursement to SBA) 722 $21,348,052 Total $27,389,800 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 Grand Total 246 $7,897,546 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 Grand Total 3 $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 Yes 226 $7,329,046 No 7 $241,400 Grand Total 233 $7,570,446 SBA Phase I & II Summary Update Additional updates coming soon 12-10-2019. Resource Links 9-10-2019 SBA Summary Update Restore Louisiana Homeowners Program.