Guide: Small Business Administration (SBA) Loan Process

  1. Go to: https://disasterloan.sba.gov/ela/ and create an account to apply online.

Notes: The website is the quickest between 7 p.m. and 7 a.m. The process takes about four hours. The website is slow. Be patient. As you’re going through the pages, it gives you an alert at the top to save your data every few minutes. Make sure and do this!

2. If you’re applying for assistance due to COVID-19, check the “Economic Injury” box.

Page 1: Enter your personal information.
Page 2: Owner of business information and answer all yes/no questions.
Page 3: Additional space if you need it for information.
Page 4: If more than one owner, this page is for additional owners who own more than 50% of the company (if not you), or a managing member or general partner.

At the bottom of this page, it will show you what you have entered from the previous page.

3. Next, you need to complete a Personal Financial Statement, then a Schedule of Liabilities.

  • You will need your EIN for your business, your debts and assets, and your insurance policy number along with your agent/insurance company name and number.

4. Next, you have to download and print the Request for Transcript of Tax Returns for yourself and the business (Form 4506-T). When you click the download button, it may take a while.

  • If you have a printer and scanner, you need to print the forms, sign them and then scan them to your computer.
  • There is a place on this page of the application to browse your computer and download your signed documents.
  • If you cannot do this, then there is a box for you to check to say that you will send them separately at a later time.

5. You also need to submit a copy of the most recent tax return for the business.

6. It will let you preview your electronic application before you submit it.

7. Once you submit the application, you get a message on the screen saying it was completed and you will also get an email as well.

The email is very informative and goes over exactly what you still need to send in if you didn’t do it with the app.

It will give you your application number at the top. You should write it down, but it will also be in the email you received after finishing the application.

The loan process will not start until they receive all of the documents they are requesting.