FAQ#: 270 published 6-19-2020
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
Secured Federal USDA Single Family Housing Repair Loans up to $40,000 for 20 years at 1 percent interest and Grants of up to $10,000.
FAQ#: 453 published 4-19-2022 1 min. 50 seconds read
How to help homeowners with their construction projects without requiring a license in Louisiana §309. Construction Management [Formerly §119]
FAQ#: 456 published 4-19-2022 3 min. 35 seconds read
SBA Reconsideration Loan: My home was hit by Hurricane Sally I am in need of an SBA loan to repair my home. Please reconsider my denied application.
FAQ#: 459 published 4-18-2022 2 min. 44 seconds read
How to calculate your Wind, Snow, Tornado and Seismic risk assessment and apply that information to better home building.
FAQ#: 458 published 3-5-2022 2 min. 31 seconds read
We have hundreds of homeowners looking for experienced trade professionals. We only ask for proof you are who you say you are. It's time you publish your work, from start to finish and show details so we can all see your quality. Homeowners are sick and tired of day labor contractors. Follow this link to create your account.
How do I know if my mortgage is federally backed or federally secured? COVID-19 Housing Assistance Program Appeals Process.
FAQ#: 460 published 1-13-2022 2 min. 50 seconds read
Reconsideration of Declined Loan Applications SBA Economic Injury Disaster Loan (EIDL)
FAQ#: 235 published 4-23-2020 updated 1-4-2022 4 min. 48 seconds read
We are looking for Skilled Trade Contractors for remodeling, repair, reconstruction and new construction of residential homes. You must be willing to work at 20% overhead / commission. Contact us today!.
Reconsideration of Declined EIDL add Personal Financial Statement Disaster Programs SBA Form 413D (03-18) to your document list.
FAQ#: 403 published 8-6-2020 updated 12-31-2021 1 min. 54 seconds read
FEMA Resource for Substantially damaged homes
FAQ#: 384 published 4-25-2021 updated 12-31-2021 1 min. 27 seconds read
"The best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer."
Don't allow misleading or misinformation cost you.
Insurance company issued a two-party check for hurricane damage repairs but my mortgage handler is holding the money from me. Why are they doing this?
FAQ#: 455 published 12-30-2021 3 min. 44 seconds read
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