North Texas SBDC Update – March 20, 2020

Texas Has Been Declared!
Declaration is linked below

Business owners should apply online in the Disaster Loan Application Portal at https://disasterloan.sba.gov/ela. The electronic loan application will be screened by the SBA processing center when it is received.  

Please see below DISASTER BUSINESS LOAN APPLICATION Filing Requirements:  FOR ALL APPLICATIONS THE FOLLOWING ITEMS MUST BE SUBMITTED.

*Loan application (SBA Form 5), completed and signed (this is online in the portal)
*Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management
*Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available
*Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member *Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)  

All of these forms are available in the Disaster Loan Application Portal. For program questions or assistance in completing the application online, businesses can contact the SBA Customer Service Center at 1-800-659-2955.

Please periodically check the SBA website for more information: https://www.sba.gov/disaster

This is where we will update eligible states.  

*COVID-19 (SBA disaster assistance in Response to Coronavirus https://www.sba.gov/disaster-assistance/coronavirus-covid-19

*Declarations https://disasterloan.sba.gov/ela/Declarations/Index

Now that the Texas Disaster Declaration has been made – the SBA encourages all eligible businesses to apply for SBA Disaster Assistance https://www.sba.gov/funding-programs/disaster-assistance    


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