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Ce. 5 July 2008 Company Owner Charged. On July 25, 2008, the president and owner of a Maryland environmental services company was charged in a criminal Information with one count of conspiracy to defraud the SBA. The company was a participant in the SBA 8(a) program from April 1999 to February 2008 based on the owner s qualification as a disadvantaged individual. The Information alleges that, in order to maintain his company s 8(a) eligibility, he failed to disclose that non-disadvantage.
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LSCS FAQ
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If you have bad credit, or your small business credit score isn't stellar, the SBA will still consider other factors, such as recent income and your history of rent, utilities, insurance, and other payments, to determine whether you qualify for an SBA disaster loan.
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Eligibility. Homeowners may apply for up to $500,000 to replace or repair their primary residence. Renters and homeowners may borrow up to $100,000 to replace or repair personal property — such as clothing, furniture, cars, and appliances — damaged or destroyed in a disaster.
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The loans may not be used to upgrade homes or make additions unless as required by local building authority/code. Loans may be increased up to 20 percent of the total amount of physical loss, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
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SBA provides low-interest, long-term loans for physical and economic damage caused by a declared disaster. They include home and personal property, business and economic injury loans.
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