Force the SBA: Deliver Difference on $10,000 EIDL Grants & Honor Full Loan Funding Limit

Force the SBA: Deliver Difference on $10,000 EIDL Grants & Honor Full Loan Funding Limit

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Diversified Company started this petition to U.S. Senate and

CLICK HERE TO VIEW THE FULL DETAILS OF THIS PETITION'S PURPOSE WITH DOCUMENTATION

SEE NEW INFORMATION AT THE END OF THIS PAGE ADDED 05/09/2020!

INTRODUCTION

A lot of misinformation is being relayed by "know it all" folks on YouTube and so-called journalists that refuse to research before printing, much like they refuse to proofread. The SBA was instructed under the CARES Act to distribute "up to" $10,000 to all valid applicants as an EIDL GRANT, regardless of whether or not the business is approved for a loan or not, regardless if the amount of said loan is less than $10,000. The SBA decided to take the law into their own hands and illegally added a stipulation that caused those with less than 10 employees to receive $1,000 per employee. This has bankrupted many businesses already that counted on that $10,000 infusion within THREE DAYS OF A SUCCESSFUL APPLICATION. The SBA refuses to address the matter, therefore many lawsuits have been filed. The most detailed one is listed here. It's not OUR lawsuit, but we are sharing this in order to GET THE WORD OUT and FORCE action to be taken by lawmakers to correct this negligent act by the SBA and penalize them accordingly. 

We ask that you click the link above to view the lawsuit already filed as well as the letters from lawmakers letting the SBA know they are violating the law.

ADDITIONAL INFORMATION ADDED 05/09/2020

The excerpt below is from a Washington Post article which HAS BEEN VETTED written by Aaron Gregg and Erica Werner and the link to the full article is HERE.

An emergency disaster lending program for small businesses has been so overwhelmed by demand that it has significantly limited the size of loans it issues, while blocking nearly all new applications from small businesses, according to people familiar with the situation.

The Economic Injury Disaster Loan program is a longstanding Small Business Administration program that's separate from the new Paycheck Protection Program, which has challenges of its own.

Congress gave the disaster loan program more than $50 billion in new funding in recent relief bills to offer quick-turnaround loans to businesses slammed by the coronavirus pandemic. But by many accounts, it is failing spectacularly. After initially telling businesses that individual disaster loans could be as high as $2 million, SBA has now imposed a $150,000 limit without publicly announcing the change, said a person familiar with the situation who was not authorized to speak publicly.

WHAT DOES THIS MEAN?

First, to clarify, the SBA didn't initially tell businesses they could obtain loans as high as $2 million. The CARES Act established that just as the CARES Act established a $10,000 EIDL Advance (Grant) which the SBA decided, without any legal authority, to limit to $1,000 per employee up to 10 employees. 

The SBA Administrator, Jovita Carranza has done it AGAIN and broken the law by attempting to alter the CARES Act and lawmakers are already all over her about it, but she is SILENT. It's as if she WANTS to be fired or WANTS to be arrested for WANTON NEGLIGENCE.

Whatever the case, we WILL NOT surrender. We WILL push and push and push until WE ALL GET OUR FULL $10,000 EIDL Advance (Grant) AND until ALL that qualify for loans for over $150,000 up to $2 million will be funded.

These games from the SBA Administrator will not be tolerated. Lawsuits have already been filed and more will be filed.

Please sign this petition today to help FORCE the SBA to FOLLOW THE LAW and the TERMINATION of Jovita Carranza from US Government employment FOREVER.

 

0 have signed. Let’s get to 7,500!
At 7,500 signatures, this petition is more likely to get a reaction from the decision maker!