SBA Disaster Loan Program
This information is correct as of 3/23/2020
Anyone interested in applying for this program will apply directly with the SBA. This loan program is NOT being funneled through Banks like the typical SBA 7A or SBA 504 loan programs are.
Click here for the SBA Disaster Loan Program.
Click here to download the presentation from SBA representatives that explains the program and provides some guidance on how to apply. Click here for a quick 3-step overview of the process.
Below is a list of required documents that SBA will ask to be provided with your application for the Disaster Loan Program.
The following documents are required to process an SBA Disaster Loan Application and reach a loan decision. Your SBA Loan Officer and Case Manager will assist you to ensure that you submit the proper documentation. Approval decision and disbursement of loan funds is dependent on receipt of your documentation.
- Business Loan Application (SBA Form 5) completed and signed by business applicant.
- IRS Form 4506-T completed and signed by Applicant business, each principal owning 20% or more of the applicant business, each general partner or managing member and, for any owner who has more than a 50% ownership in an affiliate business. (Affiliates include business parent, subsidiaries, and/or businesses with common ownership or management).
- Complete copies, including all schedules, of the most recent 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 (if a sole proprietorship), each principal owning 20% or more of the applicant business, each general partner or managing member.
- Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used).
- Complete copies, including all schedules, of the most recent Federal income tax returns for each principal owning 20% or more of the applicant business, each general partner or managing member, and each affiliate when any owner has more than a 50% ownership in the affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management.
- If the most recent Federal income tax return has not been filed, a year-end profit and loss statement and balance sheet for that tax year is acceptable.
- A current year-to-date profit and loss statement (typically within 90 days)
- Additional Filing Requirements (SBA Form 1368) providing monthly sales figures.
Leave a ReplyWant to join the discussion?
Feel free to contribute!