How to Apply for a SBA Disaster Loan
Coronavirus Emergency Loans Small Business Guide and Checklist
Congress has approved $350 billion in emergency loans for small businesses to help them keep workers employed. In fact, if small businesses maintain or later restore their payrolls, they may not have to repay some — or possibly any — of the loan. Here’s a guide and checklist from the U.S. Chamber of Commerce to help your small business through the process.
How can I apply for a small business disaster loan?
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury from COVID-19. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that a business cannot pay due to COVID-19.
We also encourage you to talk to your local banks to see if they have small business loans. Below are additional resources from the Small Business Administration:
- U.S. Small Business Administration Disaster Loan Program
- SBA Disaster Assistance One-Pager
- SBA Coronavirus Disaster Loans
- SBA 3 Step Process
- SBA Loan App Sole Proprietor
- SBA Loan App LLC, Corp, Partnership, etc
- Fee Disclosure Form
- Instructions for IRS Form 4056-T