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EIDL Grant Lawsuit
introduction
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.
specific partS of the law broken by sba
specific partS of the law broken by sba
The SBA was to issue $10,000 regardless of whether an applicant is ultimately approved or denied for an EIDL loan as long as the business meet the requirements set forth in the law.
The SBA decided to make a rule that $1,000 per employee up to 10 employees ($10,000) would be issued. This was in direct violation of the CARES Act.
entire lawsuit downloaded from pacer.gov filed on 04/17/2020
entire lawsuit downloaded from pacer.gov filed on 04/17/2020
This is the entire lawsuit filed on 04/17/2020. It includes all the Exhibits as well.
In the next section, the Exhibits, specifically the letters from lawmakers to the SBA confirming the law was in violation with key points highlighted can be viewed.
letters from lawmakers to sba to advise that law was not followed
letters from lawmakers to sba to advise that law was not followed
Letter 1 of 4
Letter 2 of 4
Letter 3 of 4
Letter 4 of 4
SUMMARY
SUMMARY
The law is clear. Every business that submitted an application that met / meets the qualifications set forth in the law is to receive a grant of UP TO $10,000 based on the APPLICANT'S request, not based on SBA's determination. In other words, a person CAN request less than $10,000 (why anyone would, beyond me), but if $10,000 is requested, $10,000 is to be received.
We therefore demand that the SBA immediately submit the difference of $2,000 - $9,000 if a lesser amount is / was received. For those that have not received anything yet that should, we demand $10,000 be deposited immediately.
It costs nothing, it's not a gimmick... WE NEED TO FIGHT FOR OUR SURVIVAL! It's the LAW. Make the SBA follow it!
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