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 loan; Can prove eligibility from 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.