COVID-19: Guidance for Small Business by U.S. Small Business Administration
The SBA’s Economic Injury Disaster Loan program provides low-interest loans of up to $2 million to small businesses and private non-profits affected by the coronavirus pandemic.
These working capital loans can be used to meet needs including payroll, accounts payable, and fixed debt payments until the situation improves. They have repayment options of up to 30 years.
- Here are the documents you’ll need to provide to complete the application:
- SBA Form 5 or SBA Form 5C for sole proprietorships – SBA loan application
- IRS Form 4506T – Tax Information Authorization for the applicant, principals and affiliates
- Complete copies of the most recent Federal Income Tax Return.
- SBA Form 2202 – Schedule of Liabilities
- SBA Form 413 – Personal Financial Statement
- SBA Form 1368 – Monthly sales figures
- We recommend you apply online but, preparing these documents ahead of time will streamline the process for you.
Apply online at: www.sba.gov/funding-programs/disaster-assistance