• SBA Economic Injury Disaster Loan Program Applications Starting Soon!

    March 18, 2020

    Business Development and Support Division
    SBA Economic Injury Disaster Loan Program

    Applications Starting Soon!

    Aloha,

    Previously we announced that the SBA’s Office of Disaster Assistance is coordinating with the Hawaii Governor’s Office to certify the state for Economic Injury Disaster Loan Assistance.

    Since the SBA Economic Injury Disaster Loan program should become available in the next week to businesses that are being impacted by the Coronavirus (COVID-19), it is important to know how you can start preparing today.

    There are 3 SBA forms that will be required (SBA Form 5, SBA Form 413, and SBA Form 2202):

    • Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal)
    • Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management
    • Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available
    • Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member
    • Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)
    If your business has been impacted by COVID-19, then these working capital loans of up to $2 million may be just what you need. They can be used to pay fixed debts, payroll and other bills that aren't being paid because of the disaster’s impact.

    Begin preparing your applications now! 

    For more information including the forms and how to submit your application, please go to the SBA Disaster Assistance Portal.

    We will continue to send out information and updates as they become available. 

    Business Development & Support Division
    Dept. of Business, Economic Development & Tourism
    dbedt.cbed@hawaii.gov
    (808) 587-2750
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