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Get the free Economic Injury Disaster Loan Application ... - Hoover Chamber

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Roderick D. Perkins Lender Relations Division Alabama District Office roderick.perkins@sba.gov I (205)2907785Disaster Loan Assistance Federal Disaster Loans for Businesses, Private Nonprofits, Homeowners,
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How to fill out economic injury disaster loan

01
Visit the official website of the Small Business Administration (SBA).
02
Click on the 'Apply for Assistance' button.
03
Select 'Economic Injury Disaster Loan' from the available loan options.
04
Fill out the online application form with accurate information about your business, including its legal name, address, and ownership details.
05
Provide details about the economic injury your business has suffered, such as loss of revenue or additional expenses incurred.
06
Submit the required documents, which may include tax returns, financial statements, and other supporting documentation.
07
Review and double-check all the information provided before submitting the application.
08
Wait for the SBA to review your application and make a decision on the loan.
09
If approved, carefully review the terms and conditions before accepting the loan offer.
10
Follow the instructions provided by the SBA to complete the loan closing process and receive the funds.

Who needs economic injury disaster loan?

01
Small businesses, including sole proprietorships, partnerships, and LLCs, that have suffered substantial economic injury as a result of a declared disaster or emergency.
02
Non-profit organizations, such as charities and educational institutions.
03
Homeowners and renters who have suffered damage or loss to their primary residence as a result of a declared disaster or emergency.
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An Economic Injury Disaster Loan (EIDL) is a financial assistance program provided by the U.S. Small Business Administration (SBA) to help businesses and non-profits recover from economic losses due to declared disasters.
Businesses and non-profit organizations that have suffered economic injuries as a direct result of a declared disaster may be required to file for an Economic Injury Disaster Loan.
To fill out the Economic Injury Disaster Loan application, applicants must complete the SBA Form 5 or Form 5C for small businesses or agricultural cooperatives, respectively, and submit it along with required documentation to the SBA.
The purpose of the Economic Injury Disaster Loan is to provide necessary working capital to small businesses and non-profits to help them pay bills, payroll, and other expenses that they are unable to meet due to the economic impact of a disaster.
Applicants must report information such as business owner details, business size, business history, financial statements, tax returns, and any other information that demonstrates the economic injury.
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