Applying for SBA Disaster Relief Loans Video Overview

DATE VIDEO RECORDED: MARCH 22, 2020
While the information in this video still relates to the EIDL Loan process, the bill has changed.

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If you are a small business owner, or someone who helps service businesses impacted by the COVID-19 outbreak.

This 45 minute video will walk you through the different information that is requested during the application process as well as each of the supporting documents that are required as well.

We hope this resource helps small businesses everywhere and openly invite you to share anywhere and everywhere it may reach people in need!

Below you will find timestamp hyperlinks to the different sections of the video as well as links to the additional documents we discuss.

***SBA Disaster Relief Online Application***
Start 0:00
• SBA Three Step Process Overview: 2:55
• Where to get started 4:37
• Type of organization: 6:15
• Page 1 of 3 of online application: 7:28
• Page 2 of 3 of online application: 15:29
• Looking up Your Corporate Statement of Information: 16:17
• Third Party Form Completion: 24:00
• Page 3 of 3 of online application 25:00
• Disaster Loan Assistance Dashboard: 25:40

***Additional Supporting PDF Documents:***
• Additional Supporting Documentation: 26:55
• Credit Karma & Mint: 28:00
• Separate Accounts Are Important: 29:00
• SBA Form 413- Personal Financial Statement 29:45
• SBA Form 2202 - Schedule of Liabilities:33:39
• SBA Form P019 - U.S. SBA EIDL Supporting Information Sheet: 36:15
• IRS Form 4506-T: Request for Transcript of Tax Return: 38:53
• Privacy Agreements: 42:45
• Final Comments: 43:50

***SBA Three Step Disaster Loan Process:***

***Required Documentation for Business:***

SBA Form 5 – Business Loan Application

IRS Form 4506-T – Request for Transcripts of Tax Return

SBA Form 413 - Personal Financial Statement

SBA Form 2202 - Schedule of Liabilities

SBA Form 1368 – Monthly Sales Figures

***Required Documentation for Homeowners and Renters:***

SBA Form 5c – Home Loan Application

IRS Form 4506-T – Request for Transcripts of Tax Return

Parkway Business Solutions - Bookkeeping from the Business Owners Perspective!

Have you checked out our Facebook Group yet?

[Parkwayinc]

Since the SBA completely changed the submission process, I will be working on an update video this evening to share with everyone. While the process may be different, many of the tips in this video are still relevant and worth watching. I will get an updated video out as quickly as possible! Thank you to all for your comments and for subscribing to our channel.

[ingridmoreno]

Does anyone knows in the SBA form 2202 what "How secured" meaning? Thanks!

[thomasbarber]

Awesome informative video- Thank you! Question: When filling out the SBA disaster relief application, can the applicant include two different businesses that are owned by the applicant 100% that were affected by the Covid-19? Both entities (one is a LLP & the other is an S Corp) are owned by the same person 100%. Just wondering if we have to fill out a separate application for each business or if this can be done on one considering they are common ownership? If so, would this information go under the Affiliate section? Thank so much! Tom (Lake George, NY)

[EEZYEEEE]

When filling out SBA Form 2202 (Schedule of Liabilities), do we need to enter Personal liabilities, Business liabilities, or both? It's not very clear.

[MetalBum]

Thanks so Hi. 👋 Do these sba loans appear on our credit when we have them? Will they show up if I try to pull another loan as a liability? I don’t want it to show up on my own credit because I want to refinance my home after

[AndyMc]

Yes completely changed midstream and just threw out all previously submitted forms

[mistynoland]

Are they loans or grants? Is everyone who qualifies for the loan qualify for the grant

[KodakPro]

While I was working on this SBA loan I was able to get about $80, 000 with 0 interest for 1 year (company is Credit Capital Consulting)

[greggroberts]

at sba.gov could find no way to do an online site registration today 03/28/20, in order to log in, which is going to be required in order to upload application.

[securityvlogger]

We are registered as an LLC with the state (multi-member) but elected to be taxed as an S-Corp Federaly. Under which entity type should we be filing? Of course, I will call the SBA hotline in the morning for this answer; but thought it may be of interest for others as well.

[donnettepink]

What about LLC business and what if you you just put the EiN number on the forms and what if you are a new start up small business owner can you be qualify for the lone

[beautifulnae]

I’m confused on the sba ppp language is the SBA Loan the same as PPP loan?
If I was approved for the SBA Disaster relief Loan last year for under $10, 000 and also received the funds last year can it be forgiven? If so how or what form needs to be filled out? Also I received an email requesting payment (Feb 2021) that’s why I am asking can the SBA Loan be forgiven.

[Maoli]

I don't know why I'm looking at an SBA Form 5 that is different than the onw you are showing on the screen. the one I am looking at is dated 06/18. I downloaded it from the SBA.gov site.

[Proudfather]

What if the business is owned 50%|50% by an individual and single member LLC owned by a second individual? For the listed LLC, As a pass through entity, it does not have the a tax return filing and financials that the application is seeking. I expected the application to request the sole member’s financials and taxes but it does not? How do I address this?
Ty great video btw

[joselarco]

I am the owner/member of an LLC with my wife. The rules are that we must spend it on specific things. Am I considered Payroll? Can I apply?

[frederickhargro]

How do you calculate what is the most that you can borrow?

[jeffreysterling]

Note, Covid-19 EIDL is different from the standard disaster form?

[Bennymigs]

Hi and thank you for this. It helped a bunch. A few questions. One, I'm an S-corp but never made myself an employed so I have no W2. Do you know if that will be an issue? Two on the schedule of liabilities do I put in credit cards if yes how do I fill out the Orginal Amount, Orginal Date, Maturity date, and how secure? Thank you?

[raddadization]

Is Your Business Owned by a Business Entity? *. - do i say yes if i'm an s corp, LLC? I'm 100 percent owner

[arulsiva]

Does it qualifies rental Real estate ?