ECONOMIC INJURY DISASTER LOANS  
NORTH CAROLINA Declaration 45 (Disaster:  NC-00115)

Application Filing Deadline: December 18, 2020 

Disaster Loan Assistance Available: Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster.  These loans are intended to assist through the disaster recovery period.

   SBA EXPLANATION OF LOAN PROGRAM

   THE SBA’S PATRICK RODRIGUEZ EXPLAINS THE LOAN PROGRAM       (TO ACCOMPANY SLIDESHOW)  

Credit Requirements:

• Credit History – Applicants must have a credit history acceptable to SBA.

• Repayment – Applicants must show the ability to repay the loan.

• Collateral – Collateral is required for all EIDL loans over $25,000.  SBA takes real estate as collateral when it is available.  SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available. READ MORE

Here are the forms you will need:

All businesses and non-profits are being encouraged to apply for the SBA Disaster Relief Loan

Here are details on how to apply. Please watch the video and follow along with the powerpoint presentation.:

• FORM 159 - FEE DISCLOSURE AND COMPENSATION AGREEMENT

• FORM 5 – FOR PARTNERSHIPS, CORPORATIONS, LLCs and LLPS

• FORM 5C – FOR SOLE PROPRIETORS

• FORM 1368 - MONTHLY SALES FIGURES 

• FORM 2202 – SCHEDULE OF LIABILITIES   INSTRUCTIONS FOR SCHEDULE OF LIABILITIES

• FORM 413 – PERSONAL FINANCIAL STATEMENTS

• FORM 4506 - REQUEST FOR TRANSCRIPT OF TAX RETURN   INSTRUCTIONS FOR COMPLETING FORM 4506

• The SBA is saying that peak hours on the website are 7am – 7pm, so if you are experiencing difficulties, try logging in after these peak hours

• The SBA has no walk-in office to help complete the application as there have been in the past with hurricanes or floods. 

• We have heard from some applicants that the SBA site may not interact well with Google Chrome

• SBA is recommending applicants print forms and fill them out (pen/pencil) before getting on the website to enter their information.   Doing this will ensure you are be able to gather all the required information and get it entered completely in your online application.  The link below is for those paper form