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3.20.20 // SBA NOW granting Texas’ Economic Injury Disaster Loan (EIDL) assistance

20 Mar 2020


Alerts, Media

Governor Abbott announced that the U.S. Small Business Administration (SBA) has now granted Texas’ Economic Injury Disaster Loan (EIDL) assistance declaration, making loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19).

Next Steps: Small businesses who believe they may be eligible for an SBA EIDL should visit the SBA’s website where they can directly apply for assistance. The online application is the fastest method to receive a decision about loan eligibility. 

THOSE APPLYING WILL NEED TO REFERENCE THE SBA'S DECLARATION
NUMBER FOR THIS LOAN, WHICH IS TEXAS #16381.

DUE TO A HIGH VOLUME OF PEOPLE APPLYING FOR THE SBA DISASTER LOAN, THE SITE IS 
EXPERIENCING CRASHES. TO HELP MINIMIZE THIS, TRY SUBMITTING YOUR APPLICATION
DURING THE HOURS OF 7 P.M. - 7 A.M.

Here are the five documents on the website you will need to complete:

  1. IRS Form 4506-T
  2. Personal Financial Statement (SBA Form 413)
  3. Schedule of Liabilities & Fixed Assets (SBA Form 2202)
  4. Monthly Sales (SBA Form 1368)
  5. Home Loan (SBA Form 5c), if applicable

Below is the list of ten documents you should assemble and scan to prepare for uploading them into the EIDL website:

  1. Corporate governance documents; e.g., Articles of Incorporation, Articles of Organization (for LLC), or Registration of Sole Proprietorship
  2. A written narrative statement justifying the nature and scope of economic injury and how/why nature of the business was adversely impacted by the Coronavirus ( one page/no more than two), such loss of revenues, canceled contracts, interrupted supply chain, etc.
  3. Current Accounts Payable and Accounts Receivable Aging as of the date of filing for the loan
  4. Three (3) years’ 1040 Federal Income Tax Returns for the business & owners
  5. Three (3) years’ company FYE Income Statement and Balance Sheet and the latest YTD Financial Statements (Company prepared)
  6. Company and Owners’ Debt Schedule Tables [e.g., Lender, original loan amt., date, current balance, interest rate (F or V?), collateral, the purpose of the loan, guarantors, status (e.g., current or past due with explanation) per row in the table]
  7. Monthly (reasonably detailed) two (2) years cash flow projections
  8. Three (3) years’ Monthly Sales History up to date of filing for a loan
  9. Current copies of owners’ credit reports from the three (3) credit bureaus with explanations for any negative reports
  10. Required SBA Forms (of all Owners, Co-owners & Principals owning 20% or more of the small business): IRS Form 4506-T, Personal Financial Statement (only on SBA Form 413), Schedule of Liabilities and Fixed Assets (SBA Form 2202), Monthly Sales (SBA Form 1368), Home Loan (SBA Form 5c)

Go to www.disasterloan.sba.gov to complete your profile and download forms.

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A good time to buy

Home Appreciation in Pflugerville, TX is up 9.4% in the last 12 months.

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Excellent Healthcare

With 3 healthcare facilities in town and 7 hospitals within less than 20 miles, Pflugerville's healthcare rivals that of any major metropolitan area.

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High Income

Pflugerville has a median household income well above

$80,000

That's nearly double the national average.

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Pflugerville has 26 more sunny days per year than the national average. That's almost a month of extra pool parties and BBQ's!

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With 28 universities and colleges in close proximity to Pflugerville, it's no surprise that nearly 40% of residents hold a Bachelor’s degree or higher.

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A close proximity to Austin and Round Rock provides a wealth of entertainment and recreation opportunities

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