New investigation: As to why 800,000 candidates was in fact refused government crisis guidelines money
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It wasn’t the first occasion Josefa Mendoza’s household inundated, but it is actually the new bad. If the 47-year-dated skills planner fled the woman Southern area Texas possessions together with her students and you will grandchildren within the through the an extreme violent storm, the water in to the got risen up to hips top.
She don’t qualify for aid from brand new Federal Disaster Government Agencies. So, such as for instance over so many Americans since 2001, she removed a federal emergency advice financing regarding Quick Organization Government.
The lower-interest financing try a major way to obtain government emergency direction readily available to help you residents and tenants plus small enterprises – if they are eligible. The fresh new SBA has actually approved on 609,000 including finance out of fiscal decades 2001 to 2018 however, declined approximately 860,100. That will not were applications that have been withdrawn, a large number of which have been closed by SBA instead than within demand of your own candidate.