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REGULAR WASECA CITY COUNCIL MEETING TUESDAY, AUGUST 20th, 2024, 7:00 PM AGENDA 1. CALL TO ORDER/ROLL CALL 2. MOMENT OF SILENCE/PLEDGE OF ALLEGIANCE 3. APPROVAL OF AGENDA 4. PUBLIC COMMENT Those wishing

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How to fill out economic injury disaster loans

01

Gather necessary documentation, including your business's financial statements, tax returns, and any other relevant records.

02

Visit the Small Business Administration (SBA) website to access the Economic Injury Disaster Loan (EIDL) application.

03

Fill out the application form with accurate information regarding your business, including its size, structure, and financial needs.

04

Provide detailed descriptions of the economic injury caused by the disaster and how the loan will help mitigate this impact.

05

Review your application for completeness and accuracy before submitting it online or by mail.

06

After submission, monitor the status of your application through the SBA's application portal.

Who needs economic injury disaster loans?

01

Small businesses and non-profits experiencing significant financial loss due to a declared disaster.

02

Businesses in industries that are directly affected by the disaster, such as agriculture, tourism, and retail.

03

Self-employed individuals and sole proprietors who have seen a decline in income due to economic disruptions.

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What is economic injury disaster loans?

Economic Injury Disaster Loans (EIDL) are low-interest loans offered by the Small Business Administration (SBA) to help small businesses and non-profit organizations affected by a declared disaster to meet their financial obligations and operating expenses.

Who is required to file economic injury disaster loans?

Any small business, agricultural cooperative, or non-profit organization that has suffered substantial economic injury as a result of a declared disaster is eligible to file for economic injury disaster loans.

How to fill out economic injury disaster loans?

To fill out economic injury disaster loans, applicants must complete the SBA Form 5, which includes information about the business, the owners, and the economic injuries suffered due to the disaster. Additional documentation may be required, such as financial statements and tax returns.

What is the purpose of economic injury disaster loans?

The purpose of economic injury disaster loans is to provide financial assistance to small businesses and non-profits that are unable to meet their ordinary and necessary operating expenses due to a disaster, enabling them to recover and sustain operations.

What information must be reported on economic injury disaster loans?

Applicants must report details such as business revenues, monthly operating expenses, and debts. They must also provide personal financial information about the owners and any co-signers.

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