Economic Injury Disaster Loan, SBA EIDL Program

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Money Man 4 Business
SBA EIDL Loan Program
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What is EIDL Loan Program

• The SBA, or the U.S. Small Business
  Administration, is a government agency that
  provides financial assistance to small businesses
  during disasters like Covid-19, hurricanes. While
  this guide focuses on the SBA Economic Injury
  Disaster Loan program in particular, the SBA does
  offer a variety of loan types.
• Normally, this program offers low-interest loans
  to small businesses affected by natural
  disasters, such as hurricanes or tornadoes.
  However, the program was recently expanded to
  also include small businesses negatively impacted
  by COVID-19.
• SBA loan specifically designed as disaster relief
  for working capital to small businesses. After
  the current coronavirus (COVID- 19) pandemic, the
  Economic Injury Disaster Loan (EIDL) program or
  EIDL Loan Program has given expanded powers from
  the federal government under the CARES Act. Any
  small business in designated states and
  territories that is impacted by the coronavirus
  outbreak can apply for an EIDL directly from the
  SBA at low-interest with cash up to 2 million.
  With the expanded qualification, you can also
  receive a cash advance of up to 10,000 instantly
  to overcome temporary difficulties. This cash
  advance is forgivable if you spend the money on
  maintaining payroll, rent, utilities, interest
  payments on debts, or other financial obligations.

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How To Apply for SBA EIDL Loan

• The SBA has declared all U.S. states and
  territories disaster areas in order for all small
  businesses eligible to apply for an EIDL. Small
  businesses can apply for an EIDL at the SBA
  Disaster Loan website. In order to expedite the
  application process, business owners should
  provide the following information required by
  these forms SBA Form 5 for disaster loan
  application SBA Form 413 for the personal
  financial statement.
• This form is to be provided by every partner and
  stockholder that owns 20 or more interest in the
  business. SBA Form 2202 for the schedule of
  liabilities SBA Form 1368 for additional EIDL
  filing requirements Monthly business financial
  statements for the SBA to conduct the economic
  injury analysis of pre- and post- disaster
  revenues.
• To make the eligibility easier for affected
  businesses, the CARES ACT has given up certain
  standard EIDL requirements. Unlike typical EIDLs,
  businesses that are affected by the COVID-19 are
  not required to provide collateral or a personal
  guaranty, except for loans larger than 200K, tax
  returns to demonstrate repayment ability, or to
  be operational for one year preceding to the
  disaster provided the business was in operation
  by January 31, 2020.

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Application Process for the Economic Injury
Disaster Loan (EIDL) You can apply for the EIDL
on the SBA Disaster Loan Assistance website. The
application typically takes a few hours to
complete and requires applicants to verify their
needs and eligibility. The applicants are also
required to provide business information and how
their businesses are affected by the coronavirus
outbreak. You can also apply for EIDL through
downloadingand mailing a paper application to
the SBA. Furthermore, you can call the SBA
Customer Service Center (800-659-2955) or send an
email to disastercustomerservice_at_sba.gov to
obtain disaster loan details and an EIDL
application. To learn more on if your business
qualifies for additional monies coming to you
or how to apply for the first time, frequently
asked questions, and more information. Request
here your Free copy of the U.S. Small Business
Administration pdf named Targeted EIDL Advance
published by the SBA on February 1, 2021.

• Application Process for Economic Injury Disaster
  Loan (EIDL)

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About Us

• We are an independent office in Houston, TX,
  working as a Loan Packager for the SBA EIDL. Yes
  you can apply by yourself or we can help you
  apply for this program with our 29 years of
  experience in the financial industry and our
  expertise that have helped business owners with
  over hundreds of thousands of business financial
  transactions since 2007. visit us at
  https//moneyman4business.com

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FAQ SBA Full EIDL Loan
How Can I use the funds? For financial obligations and operating expenses that are due if the National disaster had not occurred (the EIDL advance is forgiven)
What are the terms? 30 year payback 3.75 for business 2.75 for non-profits Up to 2 million
Is it forgivable? EIDL advance-Yes EIDL Loan-No
When do i start paying back? After funded-24 months
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WE PACKAGE YOUR LOAN

• Provide documents required to apply
  for
• SBA EIDL loan which are less than
  a regular SBA 7(a).
• Phone interview with our EIDL
  expert.
• For economic injury, you may borrow
  up to 2 million
• and 30 year payback term.
• Prime Rate of 3.75 APR for profit
  businesses
• and 2.75 APR for Non-profit.

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LOAN PROCESSING DECISION MADE

• Work along our loan packaging agent to
  provide any necessary information
  for a loan determination.
• The goal is to have decisions made
  within 2-3 weeks(some conditions may require
  longer time on decisions)

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LOAN CLOSING AND FUNDS DISBURSED

• Interview with EIDL expert for numbers
  and explanation.
• Once the closing documents are signed
  an initial disbursement
• will be made within 5 days
• Business grants upto 10,000.
• Economic Injury(Working Capital) 2 million
  dollars.
• Case manager will continuesly work
  with you until you
• receive the full loan amount. SBA EIDL can fund
  up to 2
• million dollars per business.

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Contact Us

• Money Man 4 Business
• www.moneyman4business.com

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