How to Apply for the COVID-19 Economic Injury Disaster Loan through the SBA Program

These times we are in right now are unprecedented. The confusion and trepidation are alarming and bewildering. Daniel Boone, the famous frontiersman, was once asked, “Have you ever gotten lost in the wilderness?” He said, “No, I’ve never been lost. I’ve been bewildered for weeks at a time, but I’ve never been lost.”

At ASBC we are working diligently to help business owners navigate this new ground. Disaster loans have been around for years and are used when the president declares a disaster area for expedited federal help. The usual use of these loans are for flood damage, hurricane loss, and tornado destruction in specific areas. This economic disaster loan program is a result of the CAREs Act of 2020.

The business owner will need to go to the SBA website in order to download the forms that will need to be filled out and uploaded back to the SBA site.
To apply for a COVID-19 Economic Injury Disaster Loan, click here.

Economic Injury Disaster Loans
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply.

You will need to fill out two of the following forms:
Business Loan Application (Form 5) (en Español)
Home or Sole Proprietor Loan Application (SBA Form 5C) (en Español)
Economic Injury Disaster Loan Supporting Information (Form P-019)
The business loan application is needed for all businesses that apply. Contractors should then fill in the Home or Sole Proprietor Loan Application. LLC and corporations’ businesses should fill out the Economic Injury Disaster Loan Supporting Information form.

These forms and directions will probably change as the program matures and implementation starts. Any questions about how to fill out these forms should be directed to the SBA. Additional forms may be requested by the SBA to complete this process.

We will all get through this together. Stay positive.

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