Tuesday, April 03, 2007

Senator Jim DeMint Killed Our SBA Loan

Louisiana Senator Mary Landrieu, representing many people such as Therese and I who lost our SBA loans when we received Road Home funds, filed legislation so that we could keep the low interest loan as well. Her bill is supported by Republican Senators David Vitter and Trent Lott. We honestly needed the loan on top of Road Home funds and insurance money in order to rebuild. When they cut us our Road Home money, the SBA cancelled our loan for $110,000. Thursday an anonymous senator objected and effectively shelved this bill until at least April 10 when the Senate returns from a break. Today in the T-P, I read that the anonymous senator is not so anonymous anymore. It was South Carolina Republican Jim DeMint. He argues it violates the budget that the senate just passed. Landrieu argues that because the loans will have to be paid back, it won't cost tax payers a dime. I believe that there is momentum for Landrieu's bill and it will pass, and we'll get our loan back. Someday, and it may still be a couple of years away, we'll be back inside our house for good and not living temporarily, as we've done for 19 months.


Eric Rowe said...

Did Landrieu really say that government loans cost taxpayers nothing because they will get paid back later? What an insult to American taxpayers' intelligences that she thinks we all have so little business sense. I wonder if she freely gives out loans from her own pocket, since they don't cost her anything.

LatinTeacher said...

I wrote a letter to Mr. DeMint. Since he represents a coastal state, he should know better. I am certain I won't get a response, but I had to say something. "Anonymous objection." HA!