Diaster Loans Payback
by HALBERT3, Window Shopper
- Created: March 24, 2013, 12:09 pm
- Updated: March 24, 2015, 8:53 am
I received $9,900 from the SBA to cover the cost of damage done to my home due to hurricane Sandy. The damage was done to my roof. At the same time I put in a claim to my insurance company. The repairs to my roof came to $6,875.00. The insurance check was for $3,550 that was submitted and received by the SBA. After the insurance reimbursement of $3,550 my principal balance is $6,450. So I am looking at this as a $6,450 loan in which I paid the contractor $6,875.00. Is my thinking correct?
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