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

[Westley Annis]

Jim,
 
I would encourage you not to drop out of the SBA process- remember that the
LRA plan has not been finalized and the SBA will not preclude you from
getting the LRA assistance- it is still up in the air as to how the
legislature will act on the relationship between the two forms of
assistance, but dropping out will only set you back in the process.
 
Good luck and God Bless,
Craig 
 
-----Original Message-----

Or do we get both? 



    ----- 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