SBA Economic Injury Disaster Loans for Coronavirus Related Economic Disruptions

Through the U.S. Small Business Administration’s Economic Injury Disaster Loan Program, Small Business Owners are eligible to apply for a low-interest loan due to Coronavirus (COVID-19). This loan is intended to allocate for a sufficient amount of funds to cover 6-months of operating expenses for the small business.

Loan Application Process

The Small Business Administration has developed a 3-step process including the application, documentation, and processing of Economic Injury Disaster Loans.

Step 1: Apply online via

Step 2: Application is reviewed and processed. (2-3 week turn time)

Step 3: SBA will prepare and deliver loan documentation directly to the borrower. A case worker will be assigned to you.

Business owners are advised to allow for 30-45 days for turn times.

Required Documentation

  • Completed and Signed SBA Loan Application
  • Completed and Signed 4506-T by applicant business
  • Copies of complete schedules of the most recent Federal Income Tax Return for the applicant business
  • SBA Form 413-Personal Financial Statement completed, signed, and dated
  • Schedule of Liabilities listing all fixed debts (SBA Form 2202) YTD
  • Profit/Loss Statement SBA Form 1368 with monthly sales figures

What Businesses Are Eligible To Apply?

SBA’s Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations.

What Is The Criteria For Loan Approval?

  • Credit history – Applicants must be acceptable to SBA.
  • Repayment – SBA will determine if the applicant has the ability to repay SBA loan.
  • Eligibility – The applicant business must be physically located in a declared county and suffered working capital losses due to declared disaster, not due to a downturn in the economy or other reasons.

Loan Terms

Loans up to $2 Million depending upon the size of the small business, assets, and necessary expenses to be allocated for Unsecured Loans up to $25,000. Loans greater than $25,000 will require some type of collateral which will be negotiated under special terms with SBA Loans with low interest rates: Non-Profits = 2.75% / For Profit Businesses = 3.75%. Up to 30-year Amortizations.

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