Corona Virus Disaster Loans:
The government has committed to an aggressive SBA Disaster Loan program due to the Corona Virus impact. (current details below)
EWBizservice.com can help you with the application process.Please fill in the contact information and we will contact you about how you can begin the SBA application process.
Loan Application Checklist (EWBiz can help!)
Economic Injury Disaster Loan Assistance
Small business owners in all U.S. states, Washington D.C., and territories are currently eligible to apply for a long term low-interest loan due to Coronavirus (COVID-19).
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
- Business Loan Application (SBA Form 5)
- Home or Sole Proprietor Loan Application (SBA Form 5C)
- Economic Injury Disaster Loan Supporting Information (P-019)
A Disaster Assistance loan officer may request you to fill out the following additional forms:
- Fee Disclosure Form and Compensation Agreement (SBA Form 159D)
- Personal Financial Statment (Form-413)
- Request for Transcript of Tax Return (IRS Form 4506-T)
- Schedule of Liabilities (SBA Form 2202)
- Instructions for Schedule of Liabilities (SBA Form 2202)
- Additioanl Filing Requirements (Form- 1368)
The following information should be avaialble to complete the above forms:
Personal Background and Financial Statement – To assess your eligibility, the SBA also requires you complete the following forms:
Business Financial Statements – To support your application and demonstrate your ability to repay the loan, prepare and include the following financial statements:
Profit and Loss (P&L) Statement– This must be current within 180 days of your application. Also include supplementary schedules from the last three fiscal years.
Projected Financial Statements– Include a detailed, one-year projection of income and finances and attach a written explanation as to how you expect to achieve this projection.
Ownership and Affiliations – Include a list of names and addresses of any subsidiaries and affiliates, including concerns in which you hold a controlling interest and other concerns that may be affiliated by stock ownership, franchise, proposed merger or otherwise with you.
Business Certificate/License – Your original business license or certificate of doing business. If your business is a corporation, stamp your corporate seal on the SBA loan application form
Loan Application History – Include records of any loans you may have applied for in the past.
Income Tax Returns – Include signed personaland busiess returns for the past 3 years
Resumes – Include personal résumés for each principal
Business Overview and History – Provide a brief history of the business and its challenges. Include an explanation of why the SBA loan is needed and how it will help the business.
Business Lease – Include a copy of your business lease, or note from your landlord, giving terms of proposed lease.
Additonal Forms which may be required:
Tax Information Authorization Form – IRS Form 8821
Borrower Information Form – SBA Form 1919
Statement of Personal History – SBA Form 912