Freedom of Information Request Copy of the Declined SBA Award Policy.

FAQ#: 7 published 1-4-2019

Freedom of Information Request: 6-26-2018, Copy of the "Declined SBA Award Policy".

This document is referenced in 
1. "Draft ReLa Program Management Policies (Attachment VII) Page 31 of 189"
2. "Homeowners Manual version 3.1 page 52 under SBA Verification"

 

>>> Response State of Louisiana <<<

Date: 6-28-2018

The "Declined SBA Award Policy" is found on page 52 of the manual you refer to in your email below. This is the current policy:

"Applicants who have applied for an SBA loan but have a record of declining the loan or have not executed the SBA loan may be considered for RLHP funding, but awards will be adjusted to account for any SBA DOB.  If a low to moderate income (LMI) household has declined an SBA loan, a hardship will be presumed and the SBA loan will not be considered a duplication of benefit. SBA loan declination is defined as an applicant having never executed the SBA loan documents."

When the "verification" paragraph states: RHLP Declined SBA Award Policy – it is referring to the paragraph above it in the manual (see snip image below).

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