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Summary of SBA Economic Disaster Loans
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September 7, 2022
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SBA’s Economic Disaster Loan Information

  • Eligibility – Any small business operating in an eligible business allowed by the SBA and most non-profits that do not have available credit elsewhere 
  • Qualifications – Good credit history; Can demonstrate the ability to repay loans; Can prove eligibility for economic loss
  • Loan $ Amount - up to $2M based upon the size and type of your business
  • Repayment Terms – 3.75% interest rate with terms up to 30 years
  • Allowed Use of Funds – fixed debts, payroll, and accounts payable. These loans are NOT designed to replace lost sales or profits
  • Collateral – Loans over $25,000 require the business and real estate, if available
  • Application Filing Requirements – Complete SBA loan application form; IRS Form 4507T from all owners and affiliate companies; Most recent federal tax return; Debt schedule (SBA form 2202) and a personal financial statement (SBA form 413) for all owners. Additional information may be requested.

You can receive Free Assistance at the following SBA partners:

  • SCORE
  • Small Business Development Centers (SBDC)
  • Women’s Business Centers (WBC)
  • Veterans Business Outreach Centers
  • Local Chambers of Commerce.
 
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11962 Co Road 101 #302-259
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The Villages, FL 32162
(352) 399-0050

Copyright © 2024 SCORE Association, SCORE.org

Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

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