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From YouTube: March 2023 SBA Disaster Assistance Community Meeting
Description
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B
All
right,
hi
everybody
thanks
for
joining
this
evening.
My
name
is
Ben
Edelstein
I'm,
the
co-chair
of
Martial
Rock.
We
are
the
long-term
Recovery
Group
for
this
Marshall
fire.
We
appreciate
all
of
the
struggle
that
everybody's
going
through
and
the
time
that
you're
taking
tonight
to
you
know
get
get
some
information
from
the
folks
at
the
Small
Business
Association.
So
we
appreciate
the
time
that
they're
taking
and
the
work
that
Boulder
County
has
got
done
to
set
this
up.
B
We
will
be
posting
the
recording
of
this
session
on
the
martial
Rock
website
and
Boulder.
County
will
also
be
posting
this
as
well,
so
we'll
have
that
after
the
fact,
but
I'm
going
to
sit
back
and
turn
it
over
to
Katie
Arrington
with
Boulder
County,
to
introduce
the
session
for
tonight
and
set
the
ground
rules
and
such
so.
Thank
you.
C
Thanks
Ben
and
thanks
Marshall,
Rock
and
Ben
for
hosting
tonight.
We
really
appreciate
the
Community
Partnership
Boulder
County
really
appreciates
the
Community
Partnership
to
get
Town
Halls
like
this
off
off
the
ground
and
running.
My
name
is
Katie
Arrington
I'm,
the
assistant
recovery
manager
for
Boulder
County.
Some
of
you
have
probably
interacted
with
me
or
talked
to
me
on
other
calls.
Tonight
we
have
our
main
speaker
for
the
night
is
Alex
Contreras
with
SBA.
He
will
be
running
through
a
presentation.
C
Dave
Bowman
from
Dola,
who
you
may
have
seen
on
the
hrp
town
hall
recently,
will
also
have
a
slide
or
two
in
the
presentation,
and
we
have
three
other
SBA
experts
from
SBA
on
the
call
and
the
panelists
James
Goodson
Erica
Rivera
and
Yolanda
Stokes,
who
will
all
be
able
to
provide
some
questions
and
subject
matter
expertise
if
they
need
to?
Additionally,
we
do
have.
We
are
offering
live
interpretation
of
this
session
in
Spanish.
C
So
if
Spanish
is
your
primary
language
or
the
language
you're
more
comfortable
with,
if
you
go
to
the
globe
on
the
bottom
and
you
click
on
interpretation,
you
can
click
on
English
or
Spanish,
and
if
you
click
on
Spanish,
it
will
be
live
interpreted
for
you,
our
our
presentation,
the
speakers
may
speak
a
little
bit
slower
so
that
the
interpretation
can
happen
accurately
and
succinctly,
and
so
that's
the
details
of
the
presentation.
C
We
have
some
question
questions
that
we
got
in
advance
from
the
registration
form
that
will
ask
the
presenters
at
the
end
and
then
we
will
also
feel
some
of
the
questions
that
are
coming
into
the
Q
a
during
the
presentation.
Our
suggestion
is,
if
you
can
wait
till
the
end
to
ask
your
question:
wait
till
the
end
because
it
might
get
answered
in
the
Q
a
I
mean
it
might
get
answered
in
the
presentation
while
the
key
went
while
you're
typing
it
into
the
chat.
C
So
it
might
we're
going
to
try
to
answer
all
the
questions
and
it
might
be
easier
on
you
if
you
can
focus
on
the
meeting
and
then
ask
your
questions
at
the
end
and
we
we
will
have
time
to
answer
questions
and
get
people's
needs
met
and
just
as
a
reminder,
we're
not
going
to
be
answering
questions
about
specific
cases
or
options
and
we'll
have
some
follow-ups
options
for
you
after
the
meeting.
C
If
your
case,
if
you
need
some
specific
case
follow-up,
so
I'm
going
to
hand
it
over
to
Alex
with
SBA
and
we'll
get
this
meeting
started.
Thank
you
all
for
being
here
and
thanks
SBA
for
the
partnership.
Oh
sorry,
one
last
thing
I
just
want
to
thank
the
members
of
the
unincorporated
Boulder
County
resident
group,
who
gave
us
a
lot
of
the
questions
that
went
into
the
SBA
presentation
and
the
partnership
of
superior,
rising
and
Marshall
together,
because
we
wouldn't
have
had
this
town
hall
without
the
pushing
of
the
community.
C
B
Real
quick
I
just
wanted
to
encourage
folks
to
please
use
the
Q
a
panel.
When
you
do
ask
your
questions,
the
chat
should
only
be
used
for
any
meeting
like
webinar
Administration
questions,
so
if
just
wanted
to
throw
that
out,
thank
you.
D
All
right,
thank
you
very
much
and
good
evening.
Everyone
thanks
for
joining
us
I
just
want
to
say
if
I
do
speak
too
fast
for
the
interpreters,
please
just
let
me
know
to
slow
down
a
little
bit
and
then
also
for
those
of
you
who
are
watching
the
presentation.
D
You
know
we're
we're
gonna
go.
Some
of
the
information
at
the
beginning
seems
like
information
that
you
have
heard
before
trust
me.
It's
going
to
build
up
until
we
get
to
the
later
phase,
which
many
of
you
are
probably
in
where
you
have
already
been
approved
for
a
loan
and
you're
now
going
through
either
the
closing
process
or
the
disbursement
process
waiting
on
the
subsequent
disbursements
of
your
loan.
D
We
will
get
through
all
of
that
and
then,
like
we
said
we'll
answer
questions
you
know
thank
you
to
the
Team
Who
provided
those
questions
to
us
in
advance
because
we
did
bring
the
subject
matter,
experts
onto
the
call
to
help
field
those
questions
after
we
get
through
the
presentation,
so
just
stick
with
us,
but
we're
gonna
get
through
this
presentation
and
look
forward
to
the
questions
at
the
end.
D
So,
let's
see
here
so
each
year,
SBA
provides
billions
of
dollars
in
affordable
disaster
loans,
homeowners,
renters
businesses
and
non-profits.
D
These
loans
can
help
disaster
survivors
to
repair,
replace
disaster
losses
that
are
not
fully
covered
by
insurance
or
other
recoveries,
and
so
this
is
something
that
you
might
hear
me
repeat
later
on
in
the
presentation.
The
disaster
loan
funds
can
only
be
used
for
losses
that
are
not
covered
by
other
forms
of
assistance,
and
that
includes
Insurance,
Grants
or
even
other
loan
programs.
D
D
So
the
types
of
loans
that
SBA
provides-
you
could
look
at
them
in
in
in
two
main
categories:
there's
the
business
loans
and
then
there's
the
home
loan.
So,
on
the
business
side,
we
can
provide
up
to
a
maximum
of
two
million
dollars
for
any
combination
of
physical
loss
or
economic
injury,
which
again
is
the
working
capital
on
the
home
loan
side.
We
can
provide
up
to
a
maximum
of
two
hundred
thousand
dollars
to
repair,
replace
the
primary
residence
and
then
up
to
a
maximum
of
forty
thousand
dollars
to
replace
personal
property.
D
There's
also
additional
assistance,
that's
available.
If
you
want
to
do
protective
measures
which
talk
mitigation,
so
you
could
receive
up
to
twenty
percent
of
the
total
verified
physical
damages
and
for
homeowners
that
would
cap
out
at
an
additional
two
hundred
thousand
and
so
that's
on
top
of
the
maximum
for
the
real
estate
repair.
So
if
you
were
to
get
the
maximum
amount
for
home
repair
and
the
maximum
amount
for
mitigation,
that's
four
hundred
thousand
dollars
not
including
what
you
might
get
for
personal
property.
D
So
we
have
several,
you
know
unique
things
about
the
SBA
disaster
loans
that
are,
you
know,
included
in
the
program
in
order
to
help
make
it
affordable
and
to
help,
make
it
flexible
and
and
and
help
disaster
survivors
recover.
So
the
first
thing
are:
the
interest
rates
are
low
and
I'll
go
over
specifically
what
they.
What
the
fixed
rates
are
for
this
disaster
in
a
later
Slide,
the
terms
are
longer
in
order
to
keep
the
payments
lower.
So,
typically,
the
terms
are
either
15
or
30
years.
D
I
think
most
loans
we
approve
are
at
the
30-year
term.
There
is
possible
refinancing
eligibility
of
existing
mortgages.
That
also
has
a
maximum
of
two
hundred
thousand
dollars.
D
Funds
can
also
be
used
to
relocate,
so
we
sometimes
have
borrowers
who
choose
to
use
their
eligibility
to
purchase
or
build
at
another
location
instead
of
the
same
damaged
property
again.
Mitigation
is
a
is
another
form
of
additional
assistance
that
you
can
get
through
the
disaster
loan
and
then
there's
also
contractor
malfeasance
up
to
a
maximum
of
two
hundred
thousand.
So
this
would
be
scenarios
where
your
contractor,
you
know
either
you
know,
walked
out
on
the
job
you
paid
them.
D
They
didn't
finish
it
or
they
didn't
do
the
work
that
they
were
supposed
to
do
and
you
can
submit
a
request
to
for
an
increase
to
your
loan
to
cover
the
contractor
malfeasance
and
again
that
has
a
maximum
of
two
hundred
thousand
dollars.
That's
on
top
of
the
other
maximum
loan
amounts.
That
I
was
mentioning.
Another
unique
thing
about
the
SBA
disaster
loan
is
that
the
loan
proceeds
can
also
be
used
to
pay
for
insurance
deductibles.
D
So
if
there
are
any
Property
Owners
out
there
who
are
getting
approved
for
a
loan
and
the
deductibles
were
high,
the
loan
can
also
be
used
to
help
cover
Insurance
deductibles.
D
So
I
mentioned
the
interest
rates
are
low
for
This
Disaster,
the
home
loan
rate,
the
what
we
call
a
no
credit
available
elsewhere
rate
and
I'll
explain
what
that
is,
was
1.438
for
the
home
loans,
2.83
for
businesses
and
2.83
for
the
economic
injury
disaster
loans
and
then
for
non-profits,
it's
1.875
percent.
D
We
have
a
second
category
of
interest
rates.
What
we
call
Credit
available
elsewhere,
or
sometimes
we
refer
to
it
as
the
market
rate,
and
if
you
notice
it
is
higher
than
the
lower
rate.
D
This
is
something
that,
in
a
small
business
act,
so
by
Statute
we're
required
to
determine
if
a
loan
applicant
has
credit
available
elsewhere
and
for
us
what
that
means
is
that
the
that
that
applicant
really
has
the
ability
to
fund
their
own
recovery
without
incurring
a
financial
hardship,
and
they
don't
need
a
subsidized
loan
in
order
to
do
that,
they
still
are
eligible
for
the
loan
they
still
qualify
because
they
had
damage
in
a
declared
event,
but
they
have
sufficient
more
than
sufficient
cash
flow
available
assets
compared
to
the
amount
of
damage
that
they
had
and
they
have
a
high
credit
score.
D
So,
in
those
cases
somebody
could
easily
either
use
their
own
assets
or
credit
from
a
private
lender
on
reasonable
terms
to
fund
a
recovery,
and
this
is
a
little
bit
backwards
from
what
people
are
probably
used
to,
because
in
normal
lending
circumstances
the
higher
credit
you
have.
You
know
the
higher
cash
flow,
the
lower
risk
borrower.
D
You
are
and
the
better
credit
you
are
typically
offered
I'm
sorry,
the
better
interest
rate
you're
offered
by
the
lender,
but
for
a
federal
disaster,
Loan
program,
it's
really
based
on
need,
so
the
other
thing
I'll
say,
though,
is
most
of
the
loans
that
we
approve
are
at
the
lower
interest
rate.
Historically,
it's
higher
than
80
percent
of
the
approved
loans
are
at
the
lower
interest
rate
foreign.
D
So
three
main
things
we
look
at
when
we're
approving
a
loan.
First,
one
is
eligibility,
did
you
own
or
are
you
legally
responsible
for
the
repairs
of
a
damaged
property
in
the
declared
Disaster
Area
here
we're
talking
about
Boulder
County,
and
then
we
also
look
at
credit
history.
So
it
means
that
that
the
applicant
has
to
have
credit
history.
It's
susceptible
to
SBA,
we're
a
lot
more
flexible
when
looking
at
credit
compared
to
you
know
most
private
lenders.
So
we
always
tell
people,
you
know,
don't
exclude
yourself
from
the
program.
D
Thinking
that
your
credit's
not
going
to
be
good
enough
to
get
approved.
You
know,
let
us
know
if
you
have,
you
know
we'll,
let
you
know
if
we
find
any
issues
in
the
credit,
history
and
and
we'll
work
with
you
to
try
and
justify
them,
explain
them
and
then
be
able
to
get
you
a
credit
approval
and
then
the
the
most
important.
One,
though,
is
the
repayment
the
applicant
has
to
show
the
ability
to
repay
the
loan
in
order
for
us
to
approve
it.
D
We
don't
want
to
set
you
up
with
a
loan
that
you
can't
afford
to
repay
insurance
requirements,
so
Hazard
insurance
is
required
on
all
secured
loans
and
then
flood
insurance
is
required
by
law.
If
the
property
is
in
a
special
flood
Hazard
area,
that's
standard,
for
you
know
any
mortgage
out
there
that
you
get,
but
SBA
also
requires
flood
insurance
by
policy
if
the
damage
was
caused
by
Flood.
Now
this
is
a
wildfire
and
straight
line
winds
event.
D
So
we're
not
dealing
with
the
flood
by
policy
requirement,
but
it
you
know
it's
just
something
that
we
share
with
people
just
to
let
them
know
you
know
the
the
way
we
the
way
we
look
at
approvals
and
how
we
require
flood
insurance.
D
So
the
the
typical
process
for
an
application
goes
like
this.
The
initial
one
is,
of
course,
you
apply
for
the
loan
start
by
registering
at
disasterassistance.gov
with
FEMA.
After
that
you're
referred
over
to
the
SBA.
You
complete
your
SBA
application.
Our
application
deadlines
are
typically
60
days
from
the
date
of
the
Declaration
date.
I
believe
there
were
some
extensions
to
that
for
this
declaration
and
our
application
deadlines
mirror
the
application
deadline
for
FEMA,
so
those
are
always
the
same.
D
Whatever
FEMA's
registration
deadline
is
we're
going
to
match
our
physical
damage,
loan
application
deadline
and
then
for
small
businesses
who
are
seeking
economic
injury.
That
application
deadline
is
nine
months
from
the
Declaration
date,
but
once
we
get
an
application
in,
we
will
contact
the
applicant
to
do
a
property
verification,
and
this
typically
done
over
the
phone.
What
we
call
a
desktop
verification,
the
our
team
will
make.
A
D
Appointment
with
the
applicant
discuss
the
property
using
some
other
third-party
resources
come
up
with
a
dollar
amount
of
what
it
costs
to
make
all
of
the
repairs,
and
that's
really
the
starting
point
for
the
loan.
Now
for
this
disaster,
I
know
at
the
at
the
onset,
our
estimates
were
coming
in
low
and
so
I
think
it
was
around
the
April
time
frame.
D
We
came
out
with
a
policy
to
adjust
the
multiplier,
so
we
could
increase
the
damage,
estimates
and
that
way
it
would
increase
your
eligibility,
because
what
was
happening
was
when
our
estimates
are
low
and
then
you're
also
receiving
insurance.
It's.
D
Covering
the
entire
amount
of
your
loss,
at
least
according
to
the
initial
estimate,
and
then
there's
no
room
left
for
us
to
make
a
loan
and
your
real
expenses
based
on
the
contractors.
Estimates
are
higher,
so
the
other
thing
that
we
do-
and
this
occurs
in
all
disasters
is
you
know,
our
initial
estimate
is
just
that.
It's
it's
it's.
D
The
initial
estimate
that
we're
coming
up
with,
based
on
square
footage
of
your
property
based
on
you
know
the
other
characteristics
about
it
that
we
know
and
then
based
on
the
answers
that
you
give
us
describing
the
kind
of
damage
that
you
had
and
it
can
be
adjusted
based
on
the
location
of
the
property
and
what
the
rebuilding
costs
are
there.
D
But
things
happen
in
after
a
disaster.
You
know
we
sometimes
see
rebuilding
costs,
Spike
and
this
definitely
occurred
for
the
Marshall
fire,
especially
during
covid,
where
there
were
supply
chain
issues,
rebuilding
costs
and
supplies
and
labor
shortages,
and
all
of
that
caused
things
to
go
up,
and
our
initial
estimates
just
weren't
matching
what
they
should
have
been.
D
So
once
the
application
is
in
processing,
it
can
take
up
to
two
to
three
weeks
to
get
a
credit
decision
and
then,
if
it's
approved,
we
will
send
the
loan
closing
documents
to
the
applicant
and
then
typically
within
five
days,
you're
getting
an
initial
disbursement.
Now
the
initial
disbursement
is
up
to
our
unsecured
loan
limit,
which
is
twenty
five
thousand
dollars
for
physical
damages
and
it's
twenty
five
thousand
dollars
for
economic
injury
for
those
for
those
small
businesses
and
then
after
the
initial
disbursement
is
made.
D
We
request
the
Borrowers
to
send
in
contractors,
estimates
and
receipts
of
how
the
other
funds
that
they've
received
have
been
spent
towards
the
rebuilding
project,
and
then
we
will
schedule
the
subsequent
disbursements,
and
so
what
what
we
don't
do
is
send
you
all
of
the
money
all
at
once
and
there's
some
good
reasons.
For
that
first
thing
doing.
D
The
disbursements
in
increments
is
a
good
internal
control
for
making
sure
that
the
property
owners
are
actually
rebuilding
the
properties
and
they're
not
taking
the
funds
walking
away,
leaving
behind
you
know,
damaged
and
blighted
homes,
you're
you're
able
to
use
your
eligibility
to
relocate,
but
you
know
we
have
to
know
that,
and
so
that
way
we
can
put.
D
So
the
doing
it
in
increments
is
a
is
a
good
control
to
make
sure
that
the
money
is
being
used
as
it
was
intended
to
rebuild
that
property,
and
then
the
excuse
me
the
the
disbursements
we
try
and
get
them
out
as
quickly
as
we
can,
but
I
know,
depending
on
disasters.
All
these
you
know
disasters
are
different
and
unique.
D
Wherever
you
go,
and
sometimes
there
can
be
cause
for
other
delays
and
so
I'm
going
to
talk
in
some
later
slides
about
what
typically
happens
through
the
disbursement
process
and
and
what
those
you
know,
deadlines
are
and
and
what
we,
what
we
can
do
as
far
as
extending
deadlines
or
reactivating
files
in
case
anything
changes
with
your
loan.
If
you
do
come
up
against
a
deadline.
D
So
re-acceptance
reconsideration
and
appeals,
so
this
is
in
the
cases
where
your
loan
has
not
been
approved.
Yet
in
some
cases
the
applicant
or
SBA
May
withdraw
an
application.
We
typically
this
typically
happens
when
there's
not
enough
information
or
there's
missing
documentation
that
we
need
in
order
to
be
able
to
make
a
credit
decision.
D
We
need
to
you
know
we're
missing
some
kind
of
some
form
of
information
or
document
that
would
allow
us
to
either
make
an
approval
or
a
decline
decision
on
your
on
your
loan
request,
and
until
we
get
that
we,
you
know,
we
can't
move
forward
so
either
the
applicant
will
ask
us
to
withdraw
that
way.
It
gives
them
more
time
to
you
know,
get
the
information
that
they
need
or,
if
they're
not
responding
or
just
unable
to
provide
it
to
us,
SBA
might
withdraw
the
application.
D
If
that
happens,
we
always
put
it
in
writing
and
send
you
to
a
withdrawal
letter
and
in
the
withdrawal
letter
it
will
inform
you
of
the
steps
you
need
to
take
to
request
a
re-acceptance,
and
you
have
six
months
from
the
date
of
that
letter
to
make
that
re-acceptance
request
on
declines.
You
have
six
months
from
the
initial
decline
to
request
a
reconsideration
and
those
decline.
D
Letters
include
the
reason
for
the
decline,
and
then
they
include
what
you
will
need
to
provide
to
us,
along
with
the
request
in
order
for
us
to
and
reevaluate
it
and
and
hopefully
get
to
an
approval.
Now,
if
your
reconsideration,
which
is
the
you
know,
the
the
second
processing
decision
is
also
decline,
then
you
can
make
an
appeal-
and
you
have
30
days
from
the
second
decline,
to
make
that
appeal
and
again
it
should
be
in
writing
and
you
should
provide
whatever
new
information
or
justification.
D
Loan
closing
deadline.
So
if
your
loan
has
been
approved,
we
will
send
you
your
loan
closing
documents
and
what's
called
the
loan
authorization
and
agreement,
and
so
borrowers
typically
have
60
calendar
days
to
sign
and
return
those
documents
and
to
satisfy
all
requirements
that
we
need
in
order
to
make
the
initial
disbursement,
which
I
mentioned
before
is
you
know
typically
up
to
a
maximum
of
25
000
for
the
initial
disbursement.
D
D
The
if
the
loan
closing
documents
were
not
returned
and
the
loan
is
canceled,
the
borrowers
can
request
a
reinstatement
within
six
months
from
the
date
of
that
cancellation.
So-
and
this
is
not
that
uncommon,
like
I,
was
mentioning
before
we're
seeing
more
and
more
disasters
where
the
rebuilding
phase
is
taking
longer.
D
D
Just
that
just
that
stage
right
there
takes
longer
than
it
does
for
other
disasters,
like
maybe
a
tornado
or
a
flood
where
you're,
really
just
you
can,
you
know,
get
to
cleaning
up
almost
you
know
a
much
faster
rate
so
and
then
also
you
might
end
face
shortages
of
contractors
and
labor.
You
might
face
delays
in
getting
building
permits.
You
might
face
delays
in
getting
your
insurance
settlements.
D
Some
borrowers
choose
to
wait
on
the
insurance
settlement
before
they
go
forward
with
the
loan,
even
though
you
don't
have
to
SBA
will
still
approve
and
disperse
your
loan,
even
when
the
insurance
is
still
pending,
but
some
borrowers
decide
they
want
to
wait
for
the
insurance.
All
of
those
things
are
just
different
reasons
why
there
might
be
delays,
and
so
you
know
it's
it's
easy
to
see
how
borrowers
can
come
up
as
you
can
see
situations
where
they
can't
return
the
loan
closing
documents
within
60
days.
D
You
know,
and
if
you
request
for
us
to
extend
it,
we'll
do
everything
we
can
to
to
to
do
that
just
to
make
the
process
easier.
But
if
it,
if
there's
no
assurance
that
you
know
an
extra
you
know
five
days
or
a
week
is
gonna
is
gonna
help
you
get
the
documents
into
US
quicker
than
the
easier
solution
might
be
to
cancel
it
and
then
just
come
back
and
request
the
reinstatement.
That's
a
simple
thing
that
that
we
do
often
so
disbursement
period
and
extension.
D
So
in
general,
borrowers
are
required
to
arrange
for
the
disbursement
of
all
the
loan
funds,
so
the
full
you
know
getting
the
full
disbursement
on
the
loan
within
six
months
from
the
date
of
the
loan
authorization
agreement
on
a
case-by-case
basis.
Sba
May
approve
an
extension
through
permit
disbursement
more
than
six
months
after
the
date
of
the
LA.
A
and
again
we
get
a
lot
of
these
types
of
requests
where
the
borrower
says
you
know
I'm
still
getting
permits
or
I'm
still.
D
You
know,
working
on,
you
know,
scheduling
the
contractor
to
come
out
and
continue
work.
D
You
know
whatever
it
might
be,
they're
not
prepared
within
the
six
months
from
when
they
sign
their
loan,
closing
documents
to
get
all
of
the
disbursements
and
they
request
an
extension,
and
we
do
that
often
the
key
thing
is
to
just
you
know,
communicate
that
with
your
case
manager
and
they
will
work
with
you
to
extend
out
the
deadlines
based
on
your
situation.
D
So
if
the
borrowers
unable
to
arrange
for
the
full
disbursement,
we
may
cancel
the
undispersed
portion
of
the
loan,
like
I
said
we
don't
just
leave
them
there
on
the
books.
Open-Ended
because
we
can
cancel
them
and
then
you
can
just
notify
us
when
you
are
ready
to
receive
the
funds
and
we
can
reinstate
them
and
then
schedule
your
disbursements.
D
So
one
of
the
reasons
we
don't
the
other
reasons
we
don't
you
know
disperse
all
of
the
funds
to
you
at
once
is
the
interest
begins
to
accrue
on
your
loan
when
it's
dispersed,
and
so
it
really
wouldn't.
Do
you
any
good
if
we
were
to
disperse
all
of
the
funds
and
then
you're
accruing
interest,
but
you
can't
use
them
because
you're
still
unable
to
begin
the
rebuilding
process,
which
is.
D
Waiting
until
you're
actually
ready,
and
then
we
disperse
them
and
and
then
at
that
point,
then
the
interest
would
start
to
accrue
so
I'm
going
to
talk
a
little
bit
about
loan
repayment.
So
the
initial
payment
due
date
for
this
declaration
was
18
months
from
the
date
of
the
loan
note,
which
means
the
date.
On
your
note,
the
initial
payment
doesn't
begin
until
18
months
later,
as
I
mentioned,
the
interest
accrues
on
the
dispersed
funds.
D
Only
the
interest
does
accrue
through
that
initial
payment
deferment
period,
so
borrowers
are
encouraged
to
set
up
a
my
SBA
loan
portal
account
and
we
have
the
URL
there.
It's
lending.sba.gov,
so
you
can
view
your
loan
details,
including
the
principal
and
interest
breakdowns.
You
can
schedule
payments
and
you
can
also
access
and
download
your
statements.
D
So
this
is
a
new
portal
that
we
just
launched
on
February
21st,
it's
a
big
Improvement
I,
don't
know
if
anybody
listening
in
who
had
an
early
approved
loan
created
an
account
in
what
we
call
the
Capital
Access
Financial
system
or
the
Caps
system,
the
a
cash
account
that
was
the
previous
system.
We
used
to
manage
your
loan.
D
It
was
a
little
bit
old
that
you
know
the
design
wasn't
really
user
friendly,
because
it
was
dated
this
new,
my
SBA
loan
portal,
much
more
user
friendly,
much
more
intuitive
and
the
great
thing
about
it
is.
If
you
already
have
a
caps
account,
it
uses
the
same
login
credentials,
so
you
don't
have
to
create
a
new
username
and
password.
You
can
use
that
same
cafs
account
information
to
go
into
the
my
SBA
loan
portal
and
then
in
the
my
SBA
loan
portal,
as
you
go
through
the
servicing
of
your
loan.
D
There's
a
messaging
function
in
there.
So
in
the
future,
if
you
have
any
servicing
needs
like
you,
you
know
need
help.
You
know
with
a
payoff
or
you
want
to
look
at
you
know
doing
a
subordination
or
a
lien
release
or
something
like
that.
There's
a
messaging
function
in
there
where
you
build,
you
communicate
with
us
in
a
safe
and
secure
portal,
and
we
can
respond
back
to
you
and
then
you'll
have
a
record
of
those
Communications
back
and
forth,
and
so
for
any
help.
D
If
you
need
any
help
in
setting
up
that
my
SBA
loan
portal,
it
has
its
own
customer
service
information,
the
email
address
is
cls.sba.gov
or,
if
you're
having
trouble
creating
your
account,
you
can
contact
the
1-833-572-0502
number.
D
D
But
I
do
think
this
is
important
to
mention
because
in
a
disaster
like
this,
there
are
multiple
recovery
programs.
There's
Insurance
and
all
of
the
federal
programs
have
a
requirement
to
avoid
duplication
of
benefits.
Fema
has
a
requirement.
D
Sba
has
the
same
requirement
and
Hud's
Community
Development
block
grant
program
also
has
a
requirement
to
avoid
duplication
of
benefits,
but
it
there
might
be
slight
differences
in
how
they
determine
what's
a
duplication
of
benefits
against
their
program
for
for
other
assistance,
so
borrowers
for
the
SBA
loan,
the
borrowers
are
required
to
notify
SBA
if
they
receive
additional
recoveries
for
their
law
from
other
sources,
including
federal
state
and
non-profit
sources
for
rebuilding.
So
that
means-
and
it's-
and
this
is
in
your
loan
authorization
and
agreement.
D
If
you
get
assistance
from
another
program,
whether
it's
Insurance
a
grant
a
loan,
whatever
the
source
might
be,
you
should
notify
SBA.
So
that
way
we
can
determine
if
it
is
in
fact
a
duplication.
If
it's
not,
then
you
know
we
will
let
you
know
and
then
and
then
there's
nothing
to
worry
about,
but
if
there
is,
it
may
affect
the
amount
of
your
loan
and
if
we
haven't
fully
dispersed
your
loan
yet
then
it's
great,
we
can
adjust
it.
D
You
can
keep
the
other
assistance
that
you
got,
but
if
it
is,
then
we
may
need
to
work
on
making
some
type
of
an
adjustment,
and
we
will
work
with
you.
We
will
work
with
that
other
program
to
try-
and
you
know
you
know,
make
that
as
as
painless
as
possible.
D
So
SBA
has
an
agreement
in
place
with
Dola
to
share
disaster
loan
applicant
data.
This
is
standard
for
all
of
the
Community
Development
block
grantees
that
are
out
there.
We
share
the
applicant
information
securely
with
them,
so
that
way
they
know
the
application
status.
If
we've
approved
the
loan,
how
much
was
it
for
what
were
the
intended
use
of
proceeds
and
that
helps
them
determine
quickly
if
there's
a
duplication
of
benefits,
rather
than
them
having
to
put
the
burden
on
you
to
go
and
produce
documentation
back
and
forth
between
the
different
programs?
D
D
D
Standard
Stafford,
Act
definition
for
duplication
of
benefits
is
a
dob
occurs
when
a
household
receives
financial
assistance
from
multiple
sources
for
the
same
purpose,
it's
more
than
the
total
need
for
assistance,
and
so,
like
I
mentioned,
all
of
these
different
programs
have
their
own
statutory
requirements
to
avoid
duplication
of
benefits.
The
Stafford
Act
is
the
is
the
legislative
act
that
authorizes
the
FEMA's
disaster
program.
Sbas
legislation
is
the
small
business
act
and
we
also
have
similar
duplication
and
benefits
requirement
in
our
statutory
Authority.
D
So
I'm
going
to
pause
here
for
just
one
second
and
see
if
and
see
if
Dave
Bowman's
on
and
if
he
wants
to
walk
through
this
slide
for
us
and
then
and
then
I
promise.
You
guys
we're
almost
done
and
we
can
get
to
what
I'm
sure
everyone's
waiting
for
which
is
the
the
question
and
answer
period
but
Katie
or
somebody
else
on.
Can
you
guys
see
if,
if
Dave
is
on
and
is
able
to.
A
F
F
Of
you,
great
yeah,
and
one
thing
I
want
to
emphasize
on
the
duplication
and
benefit,
is
there's
some
sort
of
a
misnomer
sometimes,
and
if
you
see
receive
funds
from
One
Source,
you
can't
receive
funds
from
another
source.
F
That's
not
the
case.
As
long
as
those
total
resources
are
not
more
than
the
need,
then
you're,
fine,
with
the
Colorado
housing
recovery
program.
We
basically
have
two
tools
and
how
duplication
and
benefit
is
treated
is
different
for
the
grant
portion,
which
is
the
forgivable
loan
versus
the
long
portion
and
there's
been
debate.
Since
you
know,
Hurricane
Katrina
about
a
loan
being
a
duplication
of
benefit
with
a
grant
and
in
previous
disasters
they
were
treated
the
same.
F
But
in
this
case
we
are
are
following
a
different
set
of
rules
that
have
been
allowed
since
then,
where
the
SBA
loan
does
not
have
to
reduce
your
Grant.
However,
the
reverse
is
not
true
in
that
the
SBA
is
still
going
to
look
at
that
Grant
assistance
now
is
closing
that
that
unmet
need
now.
If
your
unmet
need
is
still
over
the
two
hundred
thousand
dollars,
then
it's
really
not
going
to
impact
your
SBA
award.
F
But
if
your
Gap
reduces
because
of
our
grant
money
below
that
threshold
that
you
borrowed,
then
they
probably
will
come
back
and
say.
Well
now
you
know,
according
to
your
contract
and
everything
that
you're
covered,
so
they
might
reduce
the
loan
on
the
SBA
side
and
again
we
are
constantly
working
back
and
forth.
So
if
you
do
get
our
money,
it's
probably
a
good
idea
to
contact
your
loan
officer
over
at
SBA
and
vice
versa.
F
F
If
your
total
assistance
with
that
extra
fifty
thousand
dollar
loan
exceed
your
Gap,
then
there
may
be
a
reduction
in
one
or
both
of
the
the
loans
to
come
up
to
the
total
unmet
need
now,
if
you're,
greater
than
150
percent
of
Ami
and
you're
not
eligible
for
the
loan,
you're
not
eligible
for
the
loan.
If
you
already
haven't
approved
active
loan
with
the
SBA-
and
you
know
one
thing
I
I
want
to
explain
on
that-
is
that's
not
a
duplication
of
benefit
rule.
F
That's
a
policy
decision
that
we
made,
but
I
would
strongly
encourage
you
if
your
loan
is
canceled
and
you're
approved.
I
would
encourage
you
to
get
the
SBA
loan
reinstated
for
two
reasons
when
it's
a
lot
more
money
and
the
interest
rate
is
slightly
lower,
there's
not
a
big
difference,
but
both
of
these
loan
products
are
a
really
good
deal.
I
mean
if
you
were
to
try
to
go
out
on
the
market
and
get
a
construction
loan
you're,
probably
talking
at
about
four
percent
instead
of
one
and
a
half
percent.
F
So
if
you,
you
know,
look
at
that
over
the
life
of
the
loan
you're
going
to
save
about
twenty
four
thousand
dollars
with
our
product
and
about
four
times
that
with
the
SBA
product,
so
I
really
encourage
you.
If
you're
thinking
do
I
want
the
state
money
or
the
SBA
money,
the
SBA
is
a
better
deal
because
you
can
get
a
larger
grant
for
one
and
and
again
the
interest
rates
slightly
lower
and
the
reason
for
that
policy
decision
is.
F
The
legislature
did
not
give
us
a
lot
of
money
for
this
program
and
we
actually
have
enough
money
to
service
about
200
loans,
whereas
SBA
does
not
have
that
constraint
and
right
now,
they've
got
over
500
that
are
approved
about
half
of
those
have
been
canceled,
so
I
don't
know
to
what
extent
those
will
be
reinstated,
but
again
I
want
to
strongly
encourage
if
you
are
approved
and
you
can
undo
that
cancellation
and
move
forward
with
SBA.
That's
your
best
option.
F
But
again,
if
you
are
canceled,
we
will
not
consider
that
as
a
dob,
because
you
do
not
have
access
to
those
funds
and
we
will
award
you
the
state
loan
and
maybe
that's
in
your
best
interest.
If
you
only
need
fifty
thousand
dollars
instead
of
two
hundred
thousand
dollars
but
again
for
every
loan,
we
give
out,
there's
somebody
else
that
might
not
get
a
loan,
which
is
why
we're
not
encouraging
people
to
try
to
double
dip
in
those
two
programs.
F
D
So
I
just
want
to
say
also
to
Dave's
comment.
D
Different
types
of
programs
in
other
states
for
for
other
events,
and
it
it
used
to
be
that
when
you
apply
for
an
SBA
loan-
and
you
were
approved
whether
you
took
the
loan
or
not,
that
other
grant
program
that
the
state
administered
later
on
would
consider
it
a
duplication
of
benefits
and
say
no,
you
got
approved
for
the
loan,
that's
what
you
should
take
and
they
really
wouldn't
give
you
much
of
an
option
at
all.
D
They
would
just
you
know,
cancel
out
your
eligibility,
so
I
really
am
glad
to
see
that
Colorado
is
you
know
going
with
the
approach
where
it's
you
know.
If
the
loan
is
canceled
and
you
don't
actually
receive
it,
then
it's
not
gonna
negatively
impact
your
eligibility
for
the
other
program,
but
Dave
laid
out
some
great
reasons.
Why
I
think
for
a
lot
of
people,
the
SBA
Loans
probably
going
to
be
a
better
option,
because
it's
probably
going
to
help
get
you
closer
to
covering
your
full
repair
costs
than
maybe
you
know.
D
D
You
know
on
some
kind
of
a
question
about
the
disaster
Loan
program
and
you
want
to
contact
us
directly,
just
call
our
800
number
or
you
can
email
us
at
disaster
customer
service
at
sba.gov,
but
we
have
also
agreed
to
work
more
closely
with
the
county
and
that
way
we
can
provide
some
additional
help
to
them
on
answering
questions.
D
So
I'd
also
encourage
you
to
use
you
know
the
the
local
programs
and
case
managers
that
have
been
set
up
to
assist
you
guys,
because
they
have
been
really
great
about
reaching
out
to
us
and
trying
to
get
more
information
and
trying
to
understand.
D
You
know
how
to
navigate
this
program
and
and
to
assist
the
property
owner.
So
hopefully
you
guys
will
see
some
improvements
in
the
response
times
there
and
we
can
get
some
more
of
these
funds
out
for
you
and
with
that
I
think
we're
ready
for
questions.
C
Thanks
Alex
I
have
a
couple
questions
that
we
got
in
advance
when
people
registered
from
the
meeting,
and
some
of
them
are
duplicative
of
things.
You've
already
said,
but
they're
questions
that
were
asked
multiple
times
so
I'm
just
going
to
ask
you
to
answer
them
anyways.
If
that's
okay
with
you,
okay
great!
D
D
Didn't
include
in
the
slide
deck
we
can
make
sure
that
you
guys
have
it
and
and
share
it
out,
but
if
you
haven't
already
applied
for
your
physical
losses
that
that
deadline
has
passed,
we
typically
offer
like
a
grace
period
afterwards.
But
it's
usually
you
know
like
one
to
two
months-
we're
well
past
that
now.
D
So
that's
why
we
always
strongly
encourage
people
get
your
application
in.
Even
if
you
don't
know,
you're
going
to
need
or
want
the
loan,
because
you
can
always
withdraw
it
and
then
come
back
and
ask
to
reinstate
it
or
if
you
get
approved,
you
know
just
say:
okay,
I'm
not
going
to
take
the
loan.
Now
we'll
cancel
it,
and
then
you
can
come
back
later
and
request
to
reinstate
it
yeah.
D
But
if
there's
any,
if
you
guys
become
aware
of
some
kind
of
you
know
extraordinary
circumstance
that
prevented
somebody
from
being
able
to
apply
within
that
deadline,
you
know
we
will
take
a
look
at
it,
but
but
I
have
to
say
that
chances
are
low,
that
we
would
just
accept
the
late
application
this
far
this
far
late
without
some
kind
of
truly
you
know
rare
extraordinary
circumstances.
C
Okay,
thanks
and
this
question
is
asked
in
the
Q
a
a
couple
times
a
couple
different
ways
and
also
asks
on
the
on
the
pre-registration
and
you
answered
it
pretty
thoroughly.
But
could
you
just
explain
again
why
loans
are
being
canceled?
It
sounds
like
it's
really
a
benefit
to
the
resident
because
of
interest
and
everything
else.
But
could
you
just
explain
why
loans
are
getting
approved
and
then
canceled
and
what
that
process
looks
like.
D
Yeah,
so
it's
it's
definitely
not
our
intent
to
approve
and
then
and
then
not,
you
know,
disperse
the
funds.
Our
ultimate
goal
is
to
approve
these
loans
as
quickly
as
we
can
and
disperse
all
of
the
funds
as
quickly
as
we
can,
but
with
these
loans
there
are
different
requirements
based
on
the
amount
of
the
loan,
so
like
I
mentioned
before,
the
unsecured
loan
limit
is
twenty
five
thousand
dollars.
D
That
means
anything
above
that,
if
you
have
property
that
you
could
pledge
as
collateral,
we
would
require
you
to
do
so
if
the
loan's
over
25
000.,
but
along
with
that,
comes
additional
requirements.
Now
we
have
to
secure
a
lien
against
the
property.
D
E
D
To
the
correct
amounts
and
then
for
loans
that
are,
you
know,
a
higher
dollar
amount.
There's
also
going
to
be
permitting
issues
also,
and
so
a
lot
of
these
things
are
sort
of
like
they're
outside
of
our
control.
As
far
as
being
able
to
assist
the
borrower
and
getting
those
things
faster
right,
the
you
know
permits
are
outside
of
our
control.
D
You
know
being
able
to
secure
the
contractor
that
they
want
and
they're
comfortable
with
and
and
and
stuff
like
that
and
then
being
able
to
ultimately
to
produce
receipts
also
outside
of
of
our
control.
So
you
know
canceling
the
loan.
It's
it
sounds
a
lot
scarier
than
it
is,
and
I
know
that
you
know
that
does
not
probably
going
to
bring
Comfort
to
a
a
homeowner
who's.
You
know
trying
to
rebuild
and
repair
the
homestead
and
get
their
family
back
in
as
soon
as
they
can.
But
you
know
canceling
it
I
know.
D
The
first
thing
that
comes
to
everyone's
mind
is
well.
It's
it's
gone
now
right,
you
canceled,
it
I
can't
get
it
back,
but
that's
not
really
the
case
with
these
loans.
You
know
when
we
cancel
the
undispersed
funds,
it's
more
just
like
deactivating
them
and
the
borrower
always
has
the
option
to
come
back
to
us.
Ask
us
to
reinstatement
when
they
do
have
those
requirements
met.
C
So
the
follow-up
to
that
question
is:
what
does
the
reinstatement
process
look
like
what
if
people
have
missed
the
six-month
deadline
and
what,
if
people
aren't
looking
at,
like
figuring
out
full
rebuilds
until
two
years
later?
Does
that
mean
do
you
do
reinstatements
every
six
months?
What
does
that
process?
Look
like
for
these
long
build
timelines,
yeah.
D
You
know,
and
for
that
question
I'm
going
to
actually
ask
Rob
Goodson
or
Erica
Rivera,
who
are
some
of
the
subject
matter:
experts
we
brought
from
our
processing
and
disbursement
Center.
They
work
on
the
accounts
team
who
actually
handle
all
of
the
disbursements
for
the
loan
and
so
Rob
and
Erica.
D
If
I
could
get
one
of
you
guys
to
explain
for
everybody,
you
know
how
the
reinstatement
process
works
and
what
sort
of
like
you
know,
what's
our
recommendation,
if
they're
thinking
it
might
go
longer
than
six
months,
you
know
like
already
just
being
able
to
read
the
landscape
they're
anticipating
you
know
that
it
could
take
longer.
Should
they
just
wait
past
the
six
months
or
should
they
be
trying
to
request
a
reinstatement
in
you
know,
as
within
the
six
months
and
then
have
to
request
the
second
one,
if
necessary,.
E
Hi
everybody
this
is,
this-
is
a
I'm
James,
Goodson
I'm,
the
head
of
the
accounts
department
at
the
the
PEC
like
Alex,
said.
Reinstatement
is
really
I
used
to
tell
people
it's
really
just
putting
your
your
loan
funds
on
hold
for
six
months.
In
a
case
where,
like
we
have
here,
many
people
are
having
to
rebuild,
or
it's
going
to
be
an
extended
rebuild
time.
E
We
tell
everybody,
that's
fine,
we
we
can
cancel
the
loan
and
then
you
can
come
back
in
six
months,
but
if
you're,
even
if
you're,
not
ready
at
six
months,
come
back
and
tell
us
and
give
us
the
the
timeline,
because
what
we
want
to
do
is
stay
in
touch
and
in
contact
with
you,
so
that
it
shows
that
you're
moving
you're
trying
to
move
forward.
E
We
understand
that
there's
going
to
be
delays,
whether
it
be
contractors
or
permits
or
things
of
that
nature
and
we
differentiate
between
those
who
are
really
trying
to
move
forward
and
those
who
who
just
kind
of
drop
off
the
face
of
the
Earth
and
maybe
don't
want
the
loan
and
again
we're
trying
to
make
the
loan
we're
doing
everything
that
we
can
to
make
the
loan
and
get
the
funds
dispersed.
E
If
you
come
up
on
that
six
months,
go
ahead,
send
something
in
get
back
with
your
case
manager
and
explain
the
delay
so
that
we
can
either
get
some
type
of
an
extension
or
reinstatement.
One
thing
we
didn't
really
cover
in
here
is:
if
you're
there
isn't.
There
is
an
extension
that
sometimes
we
Grant
that's
in
here.
If
you're
actively
trying
to
move
forward
with
your
loan
and
you're
just
hitting
some
roadblocks
or
delays
we
can
in
in
certain
cases
extend
the
loan
without
having
to
cancel
it.
E
It
just
depends
on
what
the
best
situation
is
for
the
for
the
particular
file
that
we're
working
on
and
then
I.
Think
I
saw
a
question
in
there
about
why
we
do
this
and
and
why
we
try
and
make
the
loan
quickly
and
only
cancel
well
we're
trying
to
put
the
money
out
there
as
quickly
as
possible,
but
if
the
loan
gets
extended,
the
one
thing
we've
got
to
remember
when
the
loan
gets
extended
much
past
a
year.
We
start
to
fall
into
a
category
of
where
we
have
to
do.
E
There's
certain
steps
we
have
to
do
on
our
end
to
in
a
in
a
sense,
reprocess
the
financial
part
of
the
load.
So
that's
one
of
the
reasons
we're
trying
to
get
this
thing
done
in
six
months
or
or
a
year,
if
at
all
possible,
but
again
as
long
as
you're
staying
in
touch
with
us
and
we're
working
on
something
we
usually
find
a
way
to
to
get
an
extension
out
whether
or
or
get
it
reinstated
and
extended
again.
C
So
there's
a
sub
question
there
that
I
think
I
heard
the
answer
to,
but
just
to
double
check.
If
people
have
already,
they
didn't
miss
the
SBA
deadline,
but
they
did
miss
the
six
month.
Reinstatement
deadline
can
do
they
still
have
an
opportunity
to
reach
out
to
their
case
manager
to
talk
about
reinstatement.
Now,
yes,.
E
They
can
always
submit,
they
can
always
submit
a
request,
it'll
be
evaluated
by
the
processing
Department.
It's
not
just
the
case
manager
and
the
main
thing
is
they'll
need
to
put
if
they're
going
to
put
that
in,
they
need
to
put
in
a
a
a
clear
explanation
of
what
the
circumstances
were
that
caused
them
to
miss
that
six-month
deadline,
because
if
you
had
a
legitimate
reason,
the
SBA
is
going
to
look
at
that
and
and
that's
one
of
our
our
key
criteria.
C
Alex,
could
you
have
your
slide?
The
last
slide
on
the
page,
be
the
one
with
the
contact
information
thanks
Alex.
So
these
are
a
couple
more
general
questions
and
I'm
really
glad
we
have
the
subject
matter.
Experts
on
the
on
the
call
does
securing
a
home
equity
line
of
credit
affect
eligibility
for
SBA.
E
I
can
take
that
one.
We
are
not
a
collateral
lender,
so
we
will
whatever
liens
you
have
on
your
home,
we'll
we'll
line
up
behind
them.
You
don't
have
to
pay
them
off.
It
depends
and,
as
Alex
said
earlier,
there
are
certain
circumstances
you
might
be
eligible
for
refinancing
of
some
of
that.
E
C
Okay
and
then
how
do
I?
How
can
I
get
SBA
to
change
my
initial
valuation.
E
That
would
be,
you
would
need
to
request
a
re-verification
if,
as
Alex
said
earlier,
we
we
come
out
and
we
we
verify.
E
But
we
are
the
first
to
to
understand
that
what
something
what
we
say,
something
costs
today
may
not
be
what
it's
going
to
cost
you
in
six
months
and,
as
we
all
know,
with
inflation
and
contractor
shortages,
they
would
you
know
there
may
be
a
significant
overrun,
so
you
can
ask
for
a
re-verification
and
and
they'll
come
out
and
take
another
look
to
see
if
you
have
additional
damages
the
best
thing
for
you
to
do
if
you're
going
to
ask
for
them
to
do
that
is
provide
additional
estimates
or
receipts,
something
to
prove
that
that
or
back
up
what
it
is
that
you
think
the
valuation
should
be.
A
C
Thank
you.
We
have
a
question
and
I've
heard
this
date
to
that
hold
on.
Let
me
just
that.
It's
our
understanding
that
SBA
and
FEMA
will
end
18
months
after
the
Declaration
on
July
1st.
We
can
still
we
can
appeal
now.
D
So
the
the
I
mentioned
this
in
the
presentation.
Fema's
registration
deadline
for
for
their
program
is
aligned
with
our
application
deadline
for
physical
damage
loans,
I'm,
not
sure
about
that
18-month
deadline
that
they're
talking
about.
D
If
that's
for
something
else,
but
you
know
it
really
is
as
long
as
they
get
their
application
in
with
us
before
the
deadline,
they're
all
good,
and
then
after
that
you
know
if,
if
they
get
in
situations
where
they
need
to
withdraw
it
because
they
need
more
time
or
if
it
gets
declined,
they'll
have
additional
time
to
come
back
and
request
a
reconsideration.
D
C
Okay,
great
thank
you
and
it
Yolanda
great
graciously
put
in
the
chat
that
the
original
dead
deadlines
were
for.
Physical
damage
were
March,
2nd
2022
and
economic
injury
was
September,
30th
2022.,
so.
D
Yeah
exactly
and
the
the
other
18-month
deadline
I
mentioned
was
the
initial
payment
deferment.
So
that's
based
on,
like
you,
said
it's
individuals
based
on
when
the
loan
on
the
date
of
the
loan
note
and
so
18
months
from
there
is
when
they
would
have
to
begin
making
payments,
but
that's
that's
very
specific
to
their
loan.
Individual
loan
approval.
C
Okay,
great
thank
you
Dave.
This
may
be
more
for
you
for
you
or
it
may
be
a
combination
of
you
and
Alex.
So
I'm,
gonna,
I'll
read
the
whole
question
and
then
you
guys
can
figure
out
who
to
answer
it.
Can
we
discuss
the
similarities
and
differences
between
fire
mitigation?
Loan
amounts
from
SBA
another
200k
potentially
available
versus
the
dollar
recently
announced
details
pending
fire
mitigation
grants
from
cdbg
Dr
grants
what
qualifies
as
fire
mitigation
100
of
any
expenditure
related
to
concrete
walls,
soil
stabilization,
retaining
walls,
Etc,
foreign.
F
The
mitigation
program
from
us
is
going
to
be
capped
at
thirty
thousand
dollars,
so
it's
not
as
generous
as
the
SBA
one
and
we'll
be
coming
up
with
there's,
basically
a
list
and
we're
actually
running
it
through
folder
counters
Superior
in
Louisville
right
now
to
just
to
make
sure
it
makes
sense.
F
So
as
an
example,
if
you're
putting
in
sprinklers
I
think
you
get
a
credit
of
15
000
if
you're
doing
cement,
fiber
siding
that's
another.
That
adds
to
your
total.
So
basically
we're
looking
at.
If
you're
doing
these
certain
things,
then
we're
basically
just
adding
that
amount
to
your
award
and
it
caps
at
30
000,
because
there's
more
than
thirty
thousand
dollars
worth
of
fire
mitigation
stuff
that
you
can
do.
D
F
D
Sba,
we
don't
have
a
hard
list
of
what
qualifies
as
mitigation.
What
we're
looking
for
is
the
protective
measures
to
help
mitigate
future
damage
of
the
same
Hazard
type.
So
what
your,
what
the
borrowers
are
asked
to
do
is
when
they
submit
a
request
to
increase
their
loan
for
mitigation,
is
to
you
know,
explain
what
it
is.
What
the
project
is.
D
The
expenses
are
that
they're
planning
to
do,
and
then
our
damage
verification
team
reviews
it
to
make
sure
that
it's
you
know
it's
reasonable
and
then
we'll
approve
it,
but
it
doesn't.
You
know
a
lot
of
these
other
mitigation
programs
that
have
been
that
we've
seen
have
like
very
specific
items
and
things
that
you
have
to
do
for
good
reason,
but
the
SBA
loan
program
isn't
currently
set
up
that
way.
D
So
a
lot
more
flexibility,
I
think
in
in
what
might
be
considered
what
we
might
be
able
to
approve
for
mitigation.
The
key
thing
is
to
you
know,
contact
us
and-
and
let
us
know
what
it
is,
that
you're
wanting
to
do
and
we
can
see
if
we
can
approve
the
additional
assistance.
C
Dave
I
have
another
SBA
dollar
question
for
you
that
I
think
you're
also
working
on
answering,
but
there's
a
lot
of
nervousness
from
residents
in
general
about
taking
SBA
money,
getting
the
grant
hoping
to
get
the
Grant
from
Yola
and
having
SBA
cancel
each
other
out.
Can
you
talk
people?
What
got
through
talk
through
what
that
looks
like
for
individuals?
C
F
You
should
apply
for
both
and,
as
I
indicated
in
my
slide
on
the
the
grant
portion,
if
you're
at
less
than
150
percent
Ave
SBA
or
of
Ami,
it
does
not
change
what
you're
eligible
for.
If
we
can
fill
that
Gap
with
grant
money,
particularly
if
you're
at
that
lower
income
threshold,
we
want
to
fill
it
with
gap
with
grant
money.
So
it
might
reduce
your
SBA
loan
that
you
have
to
pay
back,
but
it's
not
going
to
impact
the
amount
you're
eligible
for
in
the
grant.
F
That's
going
to
be
a
very
rare
situation,
because
that
means
that
you're
less
than
150
percent
Ami,
you
still
want
to
take
the
traditional
loan
and
you
were
approved
for
the
200
000
for
FEMA.
So
very
few
of
you
are
in
that
category.
F
If
you
are
in
that
category,
I
know
from
the
state's
perspective.
We
don't
care
if
we
go
in
first
or
last
on
the
traditional
loan.
C
Thanks
Dave
Alex,
there's
a
couple
questions
in
here
about
not
getting
the
initial
25
000
disbursement
after
filling
out
the
paperwork.
Can
you
address
that.
D
Yeah,
in
fact,
I'm
going
to
ask
Rob
to
probably
field
that
one.
So
it's
not
just
the
signing
the
loan
closing
documents
there
are
other.
There
are
some
other
requirements
that
may
be
included
in
order
to
get
the
initial
disbursement
Rob.
Can
you
can
you
walk
through
what
some
of
those
might
be
in
and
what
maybe
some
people
were
missing
and
that
might
have
caused
them
to
not
get
the
initial
disbursement
right
away?.
E
Yeah
gladly
every
loan
is
unique
and
even
though
we
have
General
General
guidelines,
each
loan
is
unique
and
may
have
different
requirements.
One
thing
is
depending
on
the
size
of
your
loan
and
depending
on
how
much
Insurance
Recovery
you
you
have
and
how
much
expense
you
have
on
on
the
property
that
you're
having
to
rebuild.
E
You
may
have
some
type
of
a
requirement
of
a
prior
injection
where
you
have
to
put
in
money
into
the
project
prior
to
the
SBA
coming
in
to
to
finish
the
project
or
some
other
type
of
of
permit
requirement
or
or
something
else
that
we
have
to
have
in
place
before
we
can
give
you
that
that
initial
funding
it,
for
example,
is
if,
if
your
loan
was
entirely
for
reconstruction,
and
you
don't
have
the
building
permit
or
what
we
need
at
that
point,
we
might
not
be
able
to
give
you
the
25
right
up
front.
E
E
So
if,
if
you
have
a
a
question
on
that
call
your
case
manager
or
give
us
a
send
us
an
email,
and
we
will
gladly
take
another
look
at
it
to
see.
If
there's
because
again,
our
goal
is
to
try
and
get
as
much
money
to
you
as
soon
as
soon
as
possible.
So
so,
but,
like
Alex,
said
there
are
a
number
of
requirements
such
as
prior
injection
and
I
Erica.
Maybe
you
can
can
expand
on
that.
G
G
Some
of
you
of
you
have
discussed
your
loans
being
reassigned.
Some
of
your
loans
may
be
in
the
process
of
being
reassigned
to
a
couple
of
case
managers
who
are
experts
in
and
actually
your
your
disaster
and
what
you're
experiencing
now
and
they
know
different
ways
where
we
can
help
and
walk
you
through
some
of
the
ways
to
navigate
our
Loan
program
and
see
if
we
can
get
you
out
money
in
a
more
timely
manner.
G
The
big
thing
is
Construction
contract
and
nailing
down
those
construction
costs
and
coming
up
with
a
construction
plan.
But
if
you
look
at
your
loan
authorization
agreement,
if
you
turn
in
your
loan
closing
documents-
and
you
don't
have
those
funds-
the
requirements
that
is
still
needed
is
probably
discussed
in
those
loan
closing
documents
and
more
likely
than
not.
It
is
probably
the
prior
injection
requirement,
but
please
reach
out
to
your
case
manager
and
they
can
go
over.
Those
requirements
and
discuss
different
ways
in
meeting
those
requirements.
C
Thanks
Erica
So
speaking
of
case
managers,
there's
a
couple
questions
about
case
managers
in
the
chat
and
I
know
a
recovery
navigation
have
some
of
these
case
managers
questions,
but
there's
a
a
lot
of
questions
and
concern
and
frustration
with
Case,
Manager
turnover
and
case
manager,
responsiveness
and
having
to
repeat
information
with
case
managers.
Can
you
explain
some
of
the
process?
Let
us
know
any
steps
that
have
been
put
into
kind
of
relieve
some
of
those
frustrations.
Just
talk
to
us
about
case
managers.
D
So
is
it
Katie?
Is
it
case,
managers
with
SBA
or
is
it
case,
managers
with
one
of
the
other
programs,
so
I'll
I'll
start
Rob,
and
then,
if
you
could
talk
about,
you
know
like
the
the
team
itself,
but
just
from
an
agency
perspective-
and
this
isn't
you
know-
I'm
not
trying
to
make
excuses,
but
I
just
want
to
keep
you
know
for
for
context.
D
In
Disaster
Recovery,
we
have
to
scale
up
for
the
event
right
and
we're
responding
to
hundreds
of
disasters
around
the
country.
Sba
doesn't
just
respond
to
the
major
presidential
disaster
declarations
like
the
Marshall
fire.
We
also
respond
to
hundreds
of
smaller
agency
declarations.
Also.
The
other
thing
we
have
is
from
the
covid
relief
programs.
We
approved
a
historic
amount
of
economic
injury
disaster
loans
which,
more
than
doubled
the
loan
portfolio
and
agency
history.
D
D
Processing
to
the
closing
and
disbursement
and
even
the
servicing
of
those
loans,
so
the
activity
that
we
got
from
covid
really
put
a
lot
of
extra
work
on
the
teams,
and
so
sometimes
in
order
to
manage
that
we
have,
we
do
have
to
move
teams
around
right,
so
some
teams
might
have
to
move
to
help
with
the
servicing
side
for
that
covid,
which
was
really
you
know
out
of
the
ordinary
but
it,
but
it
did
happen
and
then
other
times
when
we
get
another
large
disaster
event,
teams
might
have
to
shift
and
help
there.
D
Know
this
happens.
Sometimes
you
know
we
get
one
large
event
we'll
scale
up
for
that
and
then,
as
the
work
becomes
more
manageable,
we'll
start
to
scale
back
down,
but
then
maybe
we'll
get
another
event
and
then
you
know
we'll
have
to
scale
up
again.
Rob
you
want
to
talk
about.
You
know
the
the
case
management,
peace
management,
art
and
how
people
can
you
know,
navigate
that
part
they're,
not
getting
a
response
quickly,
enough
yeah.
E
E
So
we
may
be
moving
people
around
and
you
may
get
case.
Managers
transferred.
Sometimes
people
leave
the
agency
and
we
have
to
move
files
around
for
that
and
sometimes
we're
in
the
process
of
hiring
and
you
may,
if
you
get
a
somebody,
that's
newer
that
we've
just
trained.
E
You
may
unfortunately
not
get
a
consistent
answer
sometimes,
but
what
we've
done
is
we've
got
senior
people
on
this
on
this
particular
declaration
and
we've
got
ex
people
that
are
highly
experienced
in
these
types
of
loans,
so
we're
putting
people
in
place
and
have
people
in
place
so
that
we
have
expertise
in
this
situation
and
if
we
we're
gonna,
have
a
point
of
contact
I'll.
E
Let
Erica
talk
about
that
so
that
if
you
have
a
problem,
you
can
reach
out
to
the
to
that
point
of
contact
and
we'll
get
you
an
answer
and
you're
again:
I'm
I'm
over
the
department.
So
we
will
get
you
an
answer,
one
way
or
another
and
and
try
and
get
these
files
moving
Erica.
Can
you
piggyback
off
of
that.
G
Yes,
Rob.
Thank
you
so
as
as
Rob
mentioned
that
a
lot
of
you
have
had
your
loans
reassigned.
Probably
in
the
last
few
days,
some
of
you
have
heard
from
those
new
case
managers
and
that
wasn't
an
effort
to
consolidate
your
loans
into
one
team
with
a
lot
of
expertise.
G
These
case
managers
working
your
files
have
combined
well
well
over
50
years
of
experience,
there
we've
we've
trained
them
and
we've
all
discussed
the
problems
that
have
come
out
in
these
questions,
like
the
prior
injection
questions.
Like
your
short
balls,
some
of
the
other
issues
you're
bringing
up
so
they're
discussing
those
they're
sharing
those
questions
and
concerns
with
each
other,
and
they
are
escalating
those
concerns
and
issues
up.
G
So
there's
three
case
managers
who
are
going
to
be
handling
these
loans
and
there's
going
to
be
one
team,
lead
her
name,
I'm
I'm
hesitant
to
do
this
because
I
don't
want
to
give
her
like
500
emails
coming
in
tomorrow
morning.
But
if
you
will
wait
to
hear
from
your
case
manager
maybe
give
them
until
Monday
and
if
you
need
any
additional
follow-up
after
that,
her
name
is
Dawn
Allen,
d-a-w-n,
-a-l-l-e-n
and
she's.
The
team
lead
over
that
group
and
you
can
always
reach
out
to
that.
G
D
D
They're
now
going
to
have
a
more
direct
line
to
us
where
they
can
ask
questions
and
they
can
get
assistance
and
they
can
learn
also
about
what's
happening
with
the
program
and
that's
going
to
enable
them
to
assist
people
that
are
going
through
that
channel,
but
either
way
works.
D
But,
like
I
said
you
know,
the
local
community
teams
have
been
great
about
pressing
us.
For
some.
You
know
greater
access
to
our
teams
and
and
we're
more
than
willing
to
accommodate
that.
So
we
can
help
speed.
The
disbursements
on
these.
C
Thanks
for
that
clarification,
and
also
we
appreciate
you
hearing
the
community
feedback
and
restructuring
things,
I
think
that
will
make
a
difference.
So
it
sounds
like
for
residents.
We
have,
we
know
some
residents
that
have
trouble
actually
connecting
with
their
previous
case
manager.
So
it
sounds
like
some
of
that
is
all
getting
streamlined
right
now
and
there
will
be
more
points
of
contact.
So
we
really
appreciate
that
what
so
there's
a
specific
question
about,
why
is
financial
assessment
done
multiple
times
we
are
being
asked
for
tax
returns
for
2021.?
E
Without
knowing
the
specifics
again,
it
depends
on
how
long
the
loan
has
basically
sat,
because
if
it's
been
over
a
year,
there's
loan
processing
requirements
that
require
the
loan
be
reevaluated
from
a
financial
standpoint
and
again,
I,
don't
know,
there's
other
business
related
requirements,
maybe
Erica
can
can
jump
in.
G
Yeah,
that's
primarily
the
requirement
also
sometimes
depending
on
the
increase
request,
but
most
of
the
time
it's
you've
exceeded
the
one
year
from
the
original
financial
review
and
a
second
financial
review
is
required
to
process
either
a
reinstatement
or
even
an
extension
request.
C
E
G
If
you're
talking
about
the
hazard
insurance
requirements,
a
builder's
Risk
insurance
policy
can
take
the
place
of
the
hazard
insurance
policy.
Sba
will
still
need
to
be
named
as
a
mortgagee
if
it
is
a
secured
loan,
if
it
is
a
secured
collateral
property.
C
Thanks
and
Erica
this
might
one
might
be
for
you
as
well.
If
who
do
you
contact
if
you're
alone
has
been
canceled,
and
you
don't
currently
have
a
case
manager.
G
C
And
I
just
want
to
note
that
in
the
webinar
chat,
I
put
my
direct
email
address.
So
if
you
have
follow-up,
questions
for
US,
dollar
or
SBA
I
can
help
make
sure
to
get
them
to
the
right
person.
So
it
is
k-a-r-r-I-n-g-t-o-n
at
bouldercounty.org.
C
I.
Think
I'm,
just
going
through
the
questions,
real
quick
to
see
if
there's
any
other
okay
hold
on.
D
So
I
mentioned
in
the
screen
about
the
loan
limits
for
the
home
loans.
D
The
maximum
amount
is
two
hundred
thousand
dollars
for
the
primary
residence.
If
it's
a
rental
property,
then
they
would
be
applying
under
the
business
loan
program
and
the
maximum
loan
amount
there's
two
million.
Now,
if
it's
a
second
home
or
a
vacation
home,
and
it's
not
used
for
rental
income,
then
it's
ineligible,
because
it's
neither
the
person
it's
neither
the
primary
residence
and
it's
also
not
business
income
and
it's
just
an
ineligible
type
of
property.
D
Another
exception
we
make
is
if
there
is
a
like.
D
Who's
living
in
a
property-
so,
let's
say
I,
you
know,
have
another
home
and
my
mother
lives
there
and
I
allow
her
to
live
there.
You
know
and
I
don't
charge
her
rent
I
could
still
apply
for
or
she
could,
you
know
still
apply
for
assistance
under
the
Home
Loan
program
for
that
property.
Because
it's
you
know
it's
it's
not
a
rental
property.
It's
also
not
my
vacation
home
or
my
you
know,
second
home.
It's
it's
the
home
that
I'm
using
for
for
a
family
member.
C
D
No,
if
they're
talking
about
repayment
of
the
loan,
so
it's
all
One
loan
and
the
the
payments
are
set
18
months
from
the
date
of
the
loan
note
and
those
will
start
whether
the
loan
is
fully
dispersed
or
not
once
it
comes
to
that
once
it
comes
to
that
date.
Now,
if
it
comes
to
that
date
and
they
need
to
request
an
extension,
they
want
to
request
an
extension.
You
know
pushing
back
the
deferment
that
they
can
always
do
that.
D
We
look
at
those
on
a
case-by-case
basis,
but
they're
not
going
to
have
separate
loan
payments
for
each
disbursement.
It's
still
all
under
one
loan.
C
Okay,
thanks
and
then
I
think
this
is
actually
our
last
question.
D
Well,
yeah,
if
the
I
mean
if
the
SBA
loan
has
you
know
fallen
through,
like
let's
say
it's
it's
been
canceled,
then
you
always
have
the
option,
as
we've
been
mentioning
to
request
a
reinstatement,
and
at
that
point,
if
you
have
you
know-
or
let's
say
here's
a
better
example-
probably
is.
If
you
didn't
get
approved
for
the
loan,
it
was
declined
but
you're
going
to
go
back
to
work
and
maybe
increase
your
income,
and
you
want
to
request
a
reconsideration
of
that
earlier
decline
decision.
D
You
can
do
that
and
we
can
use
you
know
your
new
income,
but
there's
you
know
you're
going
to
have
to
provide
documentation
showing
what
the
new
income
is
pay
stubs.
If
you
haven't,
if
you
don't,
have
a
full
Year's
W-2,
yet
to
show
that
because
we
rely
on
the
reported
income
to
the
IRS
with
those
tax
records.
So
so
that's
always
an
option,
but
the
the
probably
the
the
larger
question
here
is
What's
the
timing
of
it
like
how
far
past
are
they
a
decline
decision?
You.
D
Past
it
and
they
don't
have
a
a
good
reason
for
you
know
why
they
couldn't
request
a
reconsideration.
When
did
the
six-month
period
that
we
gave
them,
then
they're
gonna
have
to
try
and
appeal
that
and
and
we'll
we'll
review
it
on
a
case-by-case
basis.
But
if
it's
really
far
past
the
first
six
month,
Decline
and
we
haven't
heard
from
them
since-
and
you
know
they're
they're-
we
may
not
accept
the
reconsideration
request.
It
just
depends.
C
Thank
you
so
there's
two
last
questions
that
came
in
these
are
will
be
the
actual
final
two
questions,
because
I
know
everybody
especially
Community
participants
on
the
call,
don't
want
to
miss
anything
and
we
did
have
a
7
30
end
time,
so
Can
landlords
still
apply
at
this
date.
If
they
did
not
know
it
was
available
to
them.
D
So
yeah
I
mean,
if
so,
if
we
have
a
Lance
Let's
just
say
it's
a
question
for
SBA.
If
we
have
somebody
who
you
know
says
that
they
did
not
realize
that
they
could
apply
that
they
were
eligible
for
this
business
loan
program.
D
D
D
Some
Source
or
something
like
that
you
know
definitely
just
put
that
in
there
also
and
we
might
be
able
to
make
an
exception.
I,
don't
know
we
have
teams
that
review
those
late
application
requests
that
come
in,
but
you
know
just
just
warning:
there's
there's
no
guarantee
that
we
will
accept
it,
but
it's
just
no
cost
to
apply.
D
You
know
at
this
point
all
we're
talking
about
is
you
know,
sending
an
email
to
the
customer
service
center
requesting
to
submit
a
late
application,
make
your
case,
and
we
will
review
it
and
get
back
to
you
to
let
you
know
if
we
will
approve
accepting
your
late
application
and
then
that
will
give
you
a
chance
to
apply.
C
Great
thanks,
Alex
all
right.
The
actual
last
question:
it's
it's
a
specific
to
this
person,
but
I
think
it's
probably
there's
a
many
people
in
this
case
because
of
tax
filing
so
I
follow
I
followed
the
initial
application
process
because
my
2021
tax
return
was
filed
but
not
processed.
My
application
was
canceled.
My
tax
return
for
2021
has
now
been
processed,
can
I
resubmit,
so
I
guess
this
assumes
they
have
met
the
six-month
resubmittal
Dot
deadline,
but
now
they
have
all
the
information
they
need.
D
Yeah
I
would
encourage
them
to
submit
a
re-acceptance,
because
what
so?
What
happens?
Sometimes
is
you
know
when
we
get
an
application?
Part
of
that
application?
D
Is
the
IRS
form
4506
C
and
it
allows
us
to
pull
tax
transcripts
directly
from
the
IRS,
and
so
when
we
receive
a
response
back
from
the
IRS,
if
the
tax
returns
haven't
been
filed
yet
or
you
know,
the
processing
hasn't
been
completed,
it
may
look
like
nothing
was
filed
and
we
may
withdraw
the
application
because
you
know
they
they
fail
to
to
file
Lisa.
That's
the
way
it's
appearing.
D
So
if
the,
if
the
taxes
do
then
get
filed
later,
then
they
can
come
back
and
request
a
re-acceptance
and
we'll
attempt
to
pull
the
tax
transcripts
again.
They
may
have
to
resign.
Those
IRS
forms
because
they're
only
good
for
so
many
months
and
then
after
that
you
have
to
resign
and
date
them
again,
but
but
yeah
they
can.
They
can
definitely
submit
a
request
for
reacceptance.
C
Great,
so
just
to
wrap
up
everything.
It
sounds
like
the
team
in
SBA
has
heard
some
of
the
concerns
from
the
community
and
are
helping
us
streamline
processes.
C
If,
if
you
have,
your
loan
has
been
canceled,
if
you
need
a
reinstatement,
reapply,
there's
exceptions
and
nothing's
a
guarantee,
but
just
reach
out
to
help
reach
out
to
help
reach
out
for
help
to
me
directly.
If
you
need
it
and
I
can
get
you
in
contact
or
reach
out
to
help
for
help
from
one
of
the
new
case.
Managers
that
Erica
talked
about
and
Dave
from
Dola
has
one
more
chime
in
about
the
online
calculator
from
Dola,
and
we
will
wrap
up.
C
The
call
I
just
want
to
reiterate
our
thanks
to
SBA
and
also
our
thanks
to
all
the
participants
today
with
their
questions
and
patience
and
helping
us
get
this
call
together
and
helping
us
streamline
processes
and
try
to
provide
everybody
with
the
best
public
service.
We
can
Dave.
F
F
So
I
will
work
with
Katie
and
Ben
to
get
the
word
out,
but
I
do
want
to
emphasize
that
the
the
SBA
loan
is
not
counted
against
you
when
we're
calculating
the
Grant
and
right
now
the
calculator
is
broken
and
we
will
get
it
down
hopefully
tonight
and
get
it
fixed
and
get
it
back
up
as
soon
as
we
can
and
I
apologize
for
the
inconvenience
on
that.
C
Thanks
Dave
thanks
everybody
thanks
again
Marshall
Rock
and
Ben
for
hosting
it,
and
please
let
us
and
we'll
get
these
posted
next
week
and
it'll
go
up
when
we
post
them
we'll
make
a
notice
in
the
Boulder
County
marshall,
fire
newsletter
and
it'll
this
the
slide
deck
and
the
presentation
will
go
up
on
both
the
Boulder
County
site
and
the
Marshall
Rock
site.
So
you
should
be
able
to
access
it
from
multiple
places
and
thank
you
all
for
coming
tonight.
B
All
right,
I
guess,
we'll
end
it
here
and
thanks
for
your
time
have
a
good
evening.
If
there
are
any
outstanding
questions,
hopefully
you've
gotten.