SBA Economic Injury Disaster Loan Assistance -How to Apply

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Dallas/Fort Worth District Office March 20, 2020

u s small business administration
SBA Disaster Loans

Businesses can now apply for Disaster Assistance Loans -TEXAS



The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

Two options for Applying

1.  You may apply online at https://disasterloan.sba.gov/ela.

2.  If you are unable to apply online, you may download an application at:

https://disasterloan.sba.gov/ela, under the Loan Information tab and apply by mail.

Completed applications should be mailed to:
U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road
Fort Worth, TX 76155

Please ensure your loan application is complete before you submit.

FOR ALL APPLICATIONS THE FOLLOWING ITEMS MUST BE SUBMITTED.
-Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal)

-Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management

-Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available

-Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member

-Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)

If you have any additional questions, please reply to this email, or call our Customer Service Center at (800) 659-2955. Individuals who are deaf or hard of hearing may call (800) 877-8339.

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SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance per small business and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail

disastercustomerservice@sba.gov.

• Visit SBA.gov/disaster for more information.