The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
Business owners should apply online in the Disaster Loan Application Portal.
For assistance or further questions, please contact Citizens Bank Gladewater CEO Luke Kimbrough via email or in the office at 903-845-5566.
See below for the requirements needed for filing a DISASTER BUSINESS LOAN APPLICATION:
- 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 SBA 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.