Small Business Administration Assistance

Thank you to Affiliate Member, Jim Martin of SRT Solutions, LLC (Loan Broker NMLS ID 145336) for compiling the information below.

The following is to update you on the U.S. Small Business Administration’s (SBA) current effort to provide assistance to small businesses so that you can better respond …

Some states have already or will be declaring a disaster for their entire states to the SBA. I understand that a number of requests are currently being reviewed by the SBA’s Office of Disaster Assistance and when approved, a declaration will be issued by SBA Administrator Carranza. Some say approval within the next 24-48 hours. Once the declaration is issued, small businesses will be able to go to https://sba.gov/disaster to apply for an Economic Injury Disaster Loan (EIDL). These loans are for small businesses and private non-profits negatively impacted by the coronavirus and can be up to $2 million.

Download the following information:

•          Updated Handout about the EIDL program.
•          A quick three-step overview of the SBA Disaster Loan Process

For additional information concerning SBA’s disaster funding, please visit https://www.sba.gov/funding-programs/disaster-assistance