Disaster Relief Program Updates
Disaster Relief Program Updates At Business Capital Consultants we are closely monitoring the SBA’s Disaster Relief Loan Program, as a service to our existing and future clients. Since this effort is a fluid situation, please check in to our site for additional information. Here is the latest: The SBA recently launched a Disaster Relief Loan Program to assist small businesses. These Disaster Relief Loans typically carry low fixed rates and often have deferred payments for the first 12 months. These loans are applied for and funded directly by the SBA. To inquire about SBA Disaster Relief Loans, visit the SBA’s website at DisasterLoan.sba.gov or call 800-659-2955. There is no cost to apply for these loans. Be sure to check your company’s location within the covered areas prior to applying- link below: https://www.sba.gov/disaster-assistance/coronavirus-covid-19#section-header-1 To be better prepared to apply for a loan from the SBA you will want to have the following available (all of these forms are available via the internet):
•Form 4506T (Tax Authorization)
•SBA Form 413 (Personal Financial Statement)
•SBA Form 2202 (Schedule of Liabilities)
•SBA Form 1368 (Monthly Sales - not required for application but will be asked forlater in the process)
•Most Recent Business Tax Return or Year End Financial Statements
Free assistance with reconstructing financial records, preparing financial statements and submitting the loan application is available from any of the SBA’s partners: Small Business Development Centers (SBDCs), SCORE, Women’s Business Centers (WBC), and Veteran’s Business Outreach Centers and local Chambers of Commerce. For the nearest office, visit: https://www.sba.gov/local-assistance
Please note that this assistance is separate from any other loans your firm may be applying for, and receipt of Disaster Relief funds will not hinder the ability of your firm qualifying for any other loan/line of credit your firm may need immediately.
Contact your Business Capital Consultant for more information regarding the aforementioned and/or any other question regarding your firms’ business borrowing needs.
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