By Murray Wennerlund published 9-10-2020 updated 9-10-2020
DISASTER ASSISTANCE
Customer Service Center (800)659-2955
With any loan comes the responsibility to be able to repay the loan and the SBA Economic Injury Disaster Loan is no different.
The SBA has some of the best marketing people, they are called FEMA Disaster Assistance people who tell you or imply that you must apply for an SBA loan. The FEMA representatives are trained to do this because this is the federal sequence of delivery for disaster assistance.
Decades ago congress voted to pass the disaster debt burden over to the disaster victim and created a program to allow lenders the opportunity to lend funds that are either 90% or 100% secured by federal tax dollars. These loans are a great investment for those that have the investment capital. This money is needed by disaster victims to rebuild, repair after the disaster and to get their revenue streams back up and running so the businesses can continue to function.
The Economic Injury Disaster Loan has specific spending policies that businesses owners have to understand before even applying for the loan. The EIDL is basically operating capital. You may already be aware of the details because of the Pandemic EIDL application millions of small businesses applied for and many accepted the additional disaster debt to keep their business afloat during the shutdown.
In the areas listed below you can apply for a SBA EIDL even if you applied for one under the pandemic. This will be processed as a second loan and completed by phone and US Postal mail.
By now you have been keeping perfect books and know just what you need to make a recovery to how you were before the hurricane. You're not going to make up for lost profits just keep in mind that this is not reimbursement funds this is to continue your business.
From the Federal Register Document No. #2020-19873 published 09/09/2020.
Presidential Declaration Amendment of a Major Disaster for the State of Louisiana
A Notice by the Small Business Administration on 09/09/2020
AGENCY:
U.S. Small Business Administration.
ACTION:
Amendment 3.
SUMMARY:
This is an amendment of the Presidential declaration of a major disaster for the State of Louisiana (FEMA-4559-DR), dated 08/28/2020.
Incident: Hurricane Laura.
Incident Period: 08/22/2020 through 08/27/2020.
DATES:
Issued on 09/01/2020.
Physical Loan Application Deadline Date: 10/27/2020.
Economic Injury (EIDL) Loan Application Deadline Date: 05/28/2021.
ADDRESSES:
Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT:
A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW, Suite 6050, Washington, DC 20416, (202) 205-6734.
SUPPLEMENTARY INFORMATION:
The notice of the President's major disaster declaration for the State of LOUISIANA, dated 08/28/2020, is hereby amended to include the following areas as adversely affected by the disaster:
Primary Parishes (Physical Damage and Economic Injury Loans): Grant, Jackson, Lincoln, Natchitoches, Rapides, Sabine, Winn.
Contiguous Parishes/Counties (Economic Injury Loans Only):
Louisiana: Avoyelles, Bienville, Claiborne, De Soto, La Salle, Red River.
Texas: Sabine, Shelby.
All other information in the original declaration remains unchanged.
(Catalog of Federal Domestic Assistance Number 59008)
Cynthia Pitts,
Acting Associate Administrator for Disaster Assistance.
[FR Doc. 2020-19873 Filed 9-8-20 8:45 am]
States Affected: Louisiana, Arkansas, Texas
Counties Eligible:
Resource Links:
NOTE: If you applied for the EIDL under the pandemic declared disaster the streamline application portal you used after April 2020 will not be the portal you use for this application. You will use the normal application portal the SBA offers online. The SBA will contact you if you are required to file using paper form.
LOUISIANA &ndash Hurricane Laura &ndash August 22 through August 27, 2020
Virtual Disaster Loan Outreach Center & Virtual Business Recovery Center
Declaration #16633
Updated 09/10/20
Virtual Disaster Loan Outreach Center & Virtual Business Recovery Center
Parishes Served: Acadia, Allen, Beauregard, Calcasieu, Cameron, Grant, Jackson, Jefferson Davis, Lincoln, Morehouse, Natchitoches, Ouachita, Rapides, Sabine, Union, Vermilion, Vernon & Winn.
Schedule / Hours
Mondays &ndash Sundays
8:00 am &ndash 8:00 pm EDT
Apply online at: https://disasterloanassistance.sba.gov
or
Contact virtual center staff at
FOCWAssistance@sba.gov or
(800) 659-2955
Paper loan applications can be downloaded from www.sba.gov/disaster
Note: Although a paper application and forms are acceptable, filing electronically is easier, faster and more accurate
Completed paper applications should be mailed to:
U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road
Fort Worth, TX 76155
Resources:
Login to the SBA Portal and complete your EIDL application: https://disasterloan.sba.gov/ela/Account/Login
Disaster loan information and application forms may also be obtained by calling the SBA's Customer Service Center at 800-659-2955 /(800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov
EIDL Filing Requirements