SBA’s Economic Injury Disaster Loan

Other Facts:

  • SBA’s Economic Injury Disaster Loan (EIDLs) funds come directly from the U.S. Treasury.
  • Applicants do not go through a bank to apply. Instead apply directly to SBA’s Disaster Assistance Program at: DisasterLoan.sba.gov
  • There is no cost to apply.
  • There is no obligation to take the loan if offered.
  • The maximum unsecured loan amount is $25,000.
  • Applicants can have an existing SBA Disaster Loan and still qualify for an EIDL for this disaster, but the loans cannot be consolidated.

Basic Filing Requirements

  • Completed SBA loan application (SBA Form 5).
  • Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates.
  • Complete copies of the most recent Federal Income Tax Return.
  •  Schedule off Liabilities (SBA Form 2202).
  •  Personal Financial Statement (SBA Form 413).

Other information that may be requested:

  • Complete copy, including all schedules, of the most recent Federal income tax return for principals, general partners or managing member, and affiliates (see filing requirements for more information).
  • If the most recent Federal income tax return has not been filed, a year-end profit-and-loss statement and balance sheet for that tax year .
  • A current year-to-date profit-and-loss statement .
  • Additional Filing Requirements (SBA Form 1368) providing monthly sales figures. (This is especially important for Economic Injury Disaster Loans.)