SBA Resource Documents:

SBA Capital Loans (EN)
SBA Capital Loans (SP)
SBA EIDL Fact Sheet

What businesses are eligible to apply?

SBA’s Economic Injury Disaster Loans (or working capital loans) are available to small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations

What is the criteria for a loan approval?

Credit History-Applicants must have a credit history acceptable to SBA.
Repayment –SBA must determine that the applicant business has the ability to repay the SBA loan.

Eligibility- The applicant business must be physically located in a declared county and suffered working capital losses due to the declared disaster, not due to a downturn in the economy or other reasons.

How much can I borrow?

Eligible entities may qualify for loans up to $2 million.  

The interest rates for this disaster are 3.75 percent for small businesses and 2.75 percent for nonprofit organizations with terms up to 30 years.  

Eligibility for these working capital loans are based on the size (must be a small business) and type of business and its financial resources.  

How can I use the loan funds? What are the collateral requirements?

Economic Injury Disaster Loans over $25,000 require collateral.

SBA takes real estate as collateral when it is available.

SBA will not decline a loan for lack of collateral, but requires borrowers to pledge what is available.

These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.  The loans are not intended to replace lost sales or profits or for expansion.

Other information that may be requested:

Complete copy, including all schedules, of the most recent Federal income tax return for principals, general partners or managing member, and affiliates (see filing requirements for more information). 

If the most recent Federal income tax return has not been filed, a year-end profit-and-loss statement and balance sheet for that tax year.   A current year-to-date profit-and-loss statement .

Additional Filing Requirements (SBA Form 1368) providing monthly sales figures. (This is especially important for Economic Injury Disaster Loans.)

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