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Small Business Administration Economic Injury Disaster Loan ProgramCOVID19The Small Business Administration (SBA) has designated COVID-19 as a qualifying event for the provision of Economic Injury

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How to fill out economic injury disaster loan

01

To fill out the economic injury disaster loan application, follow these steps:

02

Go to the Small Business Administration (SBA) website and navigate to the economic injury disaster loan section.

03

Click on the application link and start filling out the necessary information.

04

Provide your personal information, including name, address, and social security number.

05

Enter your business details, including the legal name, address, and ownership structure.

06

Provide financial information, such as gross revenues and cost of goods sold for the past year.

07

Answer questions regarding the impact of the disaster on your business and the amount of economic injury suffered.

08

Upload any required supporting documents, such as financial statements, tax returns, and bank statements.

09

Review and submit the application.

10

Wait for the SBA to review your application and contact you regarding the loan decision.

Who needs economic injury disaster loan?

01

Economic injury disaster loans are designed to help small businesses, agricultural cooperatives, and non-profit organizations that have suffered substantial economic injury due to a disaster.

02

These loans are particularly beneficial for those who have experienced a significant loss of revenue, increased expenses, or impairment of earning capacity as a direct result of a declared disaster.

03

Small businesses in various industries, such as retail, hospitality, and manufacturing, that have been severely affected by a disaster can benefit from economic injury disaster loans to recover and continue their operations.

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What is economic injury disaster loan?

The Economic Injury Disaster Loan (EIDL) is a loan program provided by the Small Business Administration (SBA) to help small businesses and non-profit organizations meet their ordinary and necessary financial obligations that they cannot pay due to the economic impact of a disaster.

Who is required to file economic injury disaster loan?

Businesses, non-profit organizations, and agricultural cooperatives that have suffered substantial economic injury due to a declared disaster are required to file for an Economic Injury Disaster Loan.

How to fill out economic injury disaster loan?

To fill out the Economic Injury Disaster Loan application, applicants need to complete the necessary forms provided by the SBA, including business information, financial history, and details about the disaster's impact. It is suggested to gather all required documentation prior to beginning the application.

What is the purpose of economic injury disaster loan?

The purpose of the Economic Injury Disaster Loan is to provide financial assistance to small businesses and non-profits that are unable to meet their financial obligations due to the economic disruptions caused by a declared disaster.

What information must be reported on economic injury disaster loan?

Applicants must report information including business information (name, type, location), ownership details, financial statements, tax returns, and a description of the disaster's impact on their business.

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