The Small Business Administration (SBA) has released some helpful tips and links to resources to make navigating the Economic Injury Disaster Loan Program easier and more efficient. You can find all the documents and forms necessary to apply for financial assistance as a small business here.
Click the button below to download the instructional PowerPoint from the SBA. Keep reading for helpful tips and a summary of the information found in the PowerPoint.
This loan program is operated directly by SBA; NO small business owners should pay anyone or company to get assistance in completing this application.
If you have a business who would like free assistance with completing their applications; please have them register by following these steps:
- Visit www.tsbdc.org
- Select “Request Free Advising”
- Select “Local Advising” and Choose Your County
- Complete the Requested Information (it’s a SBA Form 641 for confidential counseling)
- A business counselor will contact the firm within 48 hours to set an appointment or start the process over the phone and/or via online video conferencing
If you are planning to apply for financial assistance through the SBA you will need to gather the following information and have it available.
- Contact information and social security numbers for all applicants
- Employer Identification Number (EIN) for business applicants
- Insurance information
- Financial information (e.g. income, account balances and monthly expenses) – Know the total amounts and payments due for debts that will be paid over the next 10 months or longer (i.e. mortgages, student loans, credit cards, etc.)
- Use Internet Explorer or Mozilla Firefox to apply.
- The ‘Help Button’ provides useful information for each page.
- Use the ‘Save Button’ frequently.
- Be patient and keep trying if you experience slow load times.
What to expect after you apply:
- You will receive email confirmation that your application has been submitted
- You will receive an email letting you know that your application is under review.
- BE PREPARED: You will be contacted by someone from the SBA
- Have your monthly expenses and financial projections ready (your local SBDC can help with this)
If you have questions or need further assistance contact the Tennessee Small Business Development Center at 901-333-5085.