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 disastercustomer[email protected] for more information on SBA disaster assistance.
Also question is, can you get a SBA loan with no money?
But the SBA offers several no money down small business loan programs, including the SBA Microloan. As you can guess from its name, borrowers will receive smaller loans through the microloan program—the SBA allows intermediary lenders to fund microloans of up to $50,000, but the average amount is $13,000.
Just so, how do I apply for $10000 Eidl grant?
Since any company that’s eligible to receive an EIDL loan is eligible for a grant, the process of getting the up to $10,000 advance for your business was relatively straightforward. You simply went to the SBA’s disaster loan assistance page and filled out an application.
What are the requirements for SBA loan?
- Operate for profit.
- Be engaged in, or propose to do business in, the U.S. or its territories.
- Have reasonable owner equity to invest.
- Use alternative financial resources, including personal assets, before seeking financial assistance.
Once your loan is approved, estimates are that it should take approximately 5-7 business days for your funds to become available. By law the your lender has up to 10 calendar days to fund your account once it receives notification of your loan approval from the SBA.
To qualify for an EIDL under the CARES Act, the applicant must have suffered “substantial economic injury” from COVID-19. EIDLs under the CARES Act are based on a company’s actual economic injury determined by the SBA (less any recoveries such as insurance proceeds) up to $2 million.