[StBernard] Question about SBA-loan and LRA-grant

[Westley Annis]

Someone from SBA was on Gardland Robinette's talk show.  They said if you
get SBA, then get LRA, you use the LRA to pay off the SBA & then you don't
have a note. 

Syl
 
-----Original Message-----
It has been hard for me to get some answers on this and a few other
questions I have, but my understanding is that SBA is not going to look at
the LRA and the LRA is no going to look at the SBA.

Westley


-----Original Message-----

    
    I received a call today from SBA saying my mom was approved for a loan.
The 
    app is going to the legal department and the remaing process will take 
    another 3-4 weeks. 
    
    My question is this: If she signs for the loan, would she be able to
apply 
    for the LRA grant and then pay the loan off? Or, should we turn down the

    loan and hope for the LRA grant? We had some flood (tho not nearly
enough) 
    insurance which paid to the structure/contents limits. 
    
    Thanks in advance for any help someone can give. 
    
    Jim York