ECONOMIC INJURY DISASTER LOAN (eidl)

EIDL Status & Recommendations

As of Thursday, April 16, 2020, the EIDL funding has been depleted.  Financial professionals are recommending businesses interested in applying for the EIDL program continue to prepare the EIDL application and gather required documents in preparation for if and when additional funding is approved. 

EIDL Program and Application Forms

The U.S. Small Business Administration (SBA) offers low-interest federal disaster loans to small businesses in designated areas suffering economic injury as a result of the Coronavirus. The SBA is encouraging businesses to complete the application for the U.S. SBA Disaster Loan while seeking other lines of credit from other sources, including the SBA Express Bridge Loan (details below). Eligible entities may qualify for loans up to $2 million. A $10,000 advance on the loan* is available to help businesses as well. The interest rates for this disaster are 3.75% for small businesses and 2.75% for non-profit organizations with terms up to 30 years. Eligibility for these working capital loans are based on the size and type of business and its financial resources.

*The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

If you have trouble accessing the website  or have questions you may call 1-800-659-2955 or (TTY) 1-800-877-8339. 

To assist you with preparing to complete the necessary online forms or to complete the forms in paper the Town of Firestone has obtained the required forms. You may fax the completed forms to 202-481-1505, email the completed forms to ela.doc@sba.gov or mail the completed forms to U.S. Small Business Administration Processing & Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155

For additional guidance please refer to SBA Disaster Loans application training presentation found here.

For Sole Proprietors: 

  • SBA Form 5C - Download, print loan application and complete.IRS Form 4506-T, Download, print form and complete or complete version online and print. Please see instructions.
  • IRS Form 4506-T - Download, print form and complete or complete version online and print.
  • IRS Form 4506-T Instructions

For All Other Businesses:

Non-Profits: 

  • SBA Form 5 - Download, print loan application and complete.
  • SBA Form 4506-T - Download, print form and complete or complete version online and print.
  • SBA Form 4506-T Instructions
    Be prepared to have organizations most recent tax return OR copy of the organization’s IRS tax-exempt certification and complete copies of the organization’s three most recent years "State of Activities" as well as a Schedule of Liabilities.