Upstate business, housing authority talk impact of government sh - FOX Carolina 21

Upstate business, housing authority talk impact of government shutdown

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Connally Bradley, executive director of Appalachian Development Corporation, talked about how the government shutdown impacted his business (FOX Carolina: 1/22/18). Connally Bradley, executive director of Appalachian Development Corporation, talked about how the government shutdown impacted his business (FOX Carolina: 1/22/18).
HUD published a FAQ's guide for employees and the public to reference during a government shutdown (FOX Carolina: 1/22/2018). HUD published a FAQ's guide for employees and the public to reference during a government shutdown (FOX Carolina: 1/22/2018).
GREENVILLE, SC (FOX Carolina) -

Connally Bradley, executive director of Appalachian Development Corporation, relies on The Small Business Administration to serve his customers.

“Essentially our customers who are on deadlines or have a contract expiring or whatever that may be are kind of at the government's mercy as we wait for them to make decisions,” said Bradley.

Bradley said ADC is the only organization in the Upstate that helps businesses secure financing through the government’s SBA 504 lending program.

With the SBA shutdown Monday, Bradley said that left his office with six loans in limbo.

“We have three pending out there and we have one, two three out there that we're trying to get closed,” said Bradley.

Another loan program that potentially could have been impacted due to the shutdown fell under Housing and Urban Development’s Federal Housing Authority backed mortgages.

Executive Director of The Greenville Housing Authority, Ivory Mathews, showed FOX Carolina a FAQ sheet from HUD that does note during a shutdown, FHA loans and closings might be delayed or not happen.

“FHA mortgages I would say are probably the most common mortgage product out there,” said Mathews.

As for the Greenville Housing Authority itself, Mathews said the short shutdown won’t majorly impact her department.

“We do have access to previously awarded funds by the federal government... we can continue to use those funds it's just that we don't have future allocation of dollars from the federal government,” said Mathews.

Furman Professor of Political Science, Dr. Brent Nelsen, said that’s pretty much the case for agencies across the board. When a shutdown does happen, he said we won’t see an immediate collapse of all funding.

“The government knows how to shut down in an organized and established way and so they cut out things that aren't of emergency needs or things like that. Less of a priority and as the money runs out they shut down more and more important things,” said Dr. Nelsen.

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