Please see below the update and download documents from SBA regarding the Economic Injury Disaster Loan program to send to your networks and contacts. We have heard that the webpage for SBA disaster assistance has either stalled or crashed during some application processes. SBA has advised us that since the rest of the country is also logging onto the portal, the system becomes overwhelmed, so the best times to apply online would be at either earlier in the day or later at night. However, as the EIDL applications continue to surge, SBA’s Office of Disaster Assistance has provided an alternate method for applicants to submit and upload forms while the application portal is down for maintenance.
Here’s the link to the new application page with instructions for uploading documents: https://disasterloan.sba.gov/apply-for-disaster-loan/index.html.
IMPORTANT: You may have to clear your browser cache if you receive an error accessing this page.
Some notes to help folks with the application:
The SBA is advising businesses to fill out the PDF forms and reach out to SBDC if they need assistance with compiling the financial information. They may request assistance with the application at www.nyssdbc.org to make an online request.
In addition to the attached forms, applicants will also need to submit the most recently filed tax returns for the business and all owners of the business or a justification if not available. Sole proprietors are required to complete the 5C loan application form. All other businesses should fill out the form 5 business loan application.
Notes on filling out the forms:
- On all forms “Damaged Property” simply refers to your primary location for the operations of the business.
- On Form 5, skip box 15, this only applies to property damage loans.
- There is no specific location to input a requested loan amount. The loan amount is determined by the supporting documents and any other relevant financial information provided that substantiates the economic injury.
- All owners with 20% or greater ownership in the business must be included in the application.