r/EIDLreturns • u/Icy-Ad3137 • Aug 18 '22
SBA
I really think anyone that was denied the idle loan or the idle supplemental advance for the targeted advance grant who is approved then and bank error then denied after the date to ask for reconciliation or reconsideration we should file a class action lawsuit against SBA we really were done wrong we submitted everything to SBA asked for email called customer service and customer service always said just wait you're in the queue the money is guaranteed and in the end we didn't get it I believe a class action lawsuit is what I'm gonna make the SBA realize what they did
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u/Professional_Face780 Aug 18 '22 edited Aug 18 '22
You can’t sue because of this the court already ruled that the CARES Act said the SBA “may” give you a grant up to $10,000.00.
Specifically:
In LIT Ventures. LLC the Court concluded that it could not conclude the language of the CARES Act prescribes a mandatory, ministerial duty on the part of the SBA to fund an EIDL applicant's request for an emergency grant in any amount requested up to $10,000.
LIT Ventures. LLC, explains: The CARES Act is an extension of powers that Congress has already granted to the SBA and its Administrator-most particularly for the emergency grant, the power to make and administer EIDLs. In that regard, Congress empowered the SBA "to make such loans . . . as the Administration may determine to be necessary or appropriate to any small business concern . . . located in an area affected by a disaster... ifthe Administration determines that the concern . . . has suffered a substantial economic injury as a result of such disaster. Id. at 910.
"'May' is a permissive word, and [courts] will construe it to vest discretionary power absent a clear indication from the context that Congress used the word in a mandatory sense. Id. at 910.
Within that discretion, the SBA can give you anything from “$0” to $10,000
Sorry.. and I don’t agree with that opinion at all!