Resources for Small Businesses
The Senate Small Business Committee has provided a small business guide to the CARES Act.
Please see the following document from the Roanoke Regional SBA on information for SBA Economic Injury Disaster Loans: Eligibility and Application Requirements
On 3/18/2020, the Commonwealth of Virginia requested that the Administrator of the U.S. Small Business Administration (SBA) implement a Small Business Administrative declaration to provide assistance in the form of SBA Economic Injury Disaster Loans. As of 3/19/2020 that application was approved.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email firstname.lastname@example.org for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
For a detailed explanation of SBA’s Disaster Loans, please see SBA’s Three Step Process Factsheet. That can be accessed here:
Items Required for Applications
1. Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal). To see what the form looks like, an example can be found here.
2. 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.
3. Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available
4. 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
5. Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)
Additionally use the following for Small Business Guidance & Loan Resources: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources