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SBA Economic Injury Disaster Loans

There is no doubt that the SBA website and hotline will be backed up with a high number of inquiries.  The North Texas UT Tyler-Longview SBDC, as an SBA resource partner, is available to assist clients who require help in pulling together the documents needed to apply for these loans. 
 
SBA Economic Injury Disaster Loans (EIDL) - Before you start:
  • EIDLs are loans that will come directly from the Treasury Department and handled through the SBA. 
  • Applications will be made directly through the SBA website at https://www.sba.gov/funding-programs/disaster-assistance.
  • The SBA hotline to answer questions is 800-659-2955.
  • Paper applications will be accepted; however, this will slow the approval process.  For fastest service, applications should be made on the website.
 
All applicants must submit the following (available through the Disaster Loan Application Portal):
  • Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal)
  • Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management
  • Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available
  • Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member 
  • Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)
  • Include SBA form 1368
  • 2019 YTD P&Ls, 2020 YTD P&Ls
 
Additional information:
  • Tax Returns are only required at the time of application submission from private nonprofits
  • Tax Returns are required for loans greater than $500,000.00
  • A sole proprietorship will use SBA form 5c
 
For information or for help please contact:
Day Shelmire Director
UT Tyler-Longview Small Business Development Center
911 W. Loop 281, Suite 319
Longview, Texas  75604
Office:  (903) 757-5857 | [email protected]