SBA Disaster Federal Secured Loans Federally Secured Low Interest Loans managed by the SBA

What the SBA Office of Inspector General believes is Suspicious Activities and Suspected Fraud with EIDL apps.

When the president signed the Coronavirus Preparedness and Response Supplemental Appropriations Act on March 6, and the Coronavirus Aid, Relief, and Economic Security Act CARES Act on March 27, the SBA OIG raised the warning flag to the SBA Director.

By Murray Wennerlund published 12-31-2020 updated 12-31-2020
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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
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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
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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
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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 updated 9-7-2021
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Decline Code 33 Not eligible because the applicant is not a small business.

Federal law limits Economic Injury Disaster Loans EIDL to small businesses only.

By Murray Wennerlund published 10-31-2022 updated 10-31-2022
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Low and Moderate income households should never sign for any SBA Disaster Loan without consulting CDBG-DR

Homeowners often sign for SBA loans because it sounds like the best offer. For personal property replacement loans, yes, for home repair loans no. No if your household is 80% AMI or below which is low to moderate income. HUD CDBG-DR for home repair.

By Murray Wennerlund published 5-18-2022 updated 5-26-2022
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