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Community Corner

NYS Rising and SBA Loans

Sandy Man, Neighbor

Did anyone Take an SBA Loan to fix Sandy Damage on their home?

I was at NYS rising and they told me it is considered a grant.

I said so if I had 100K in damage and I got 32K in fema grants and borrowed 68K from my 401K I could get a check possibly for 68K and pay back my 401k. I get yep, but what if I took a 68K SBA loan, she goes that is considered a grant not a loan even though it is a loan. But if I applied for a SBA loan and did not use it I am good.

This is crazy. Did anyone take a SBA Loan who wants to apply to NYS rising?

 




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