SBA Application For The Loan and FAQs. SBA Disaster Loan Program: Faqs
This report provides information that is general the SBA Disaster Loan Program. For lots more information that is specific SBA catastrophe help for , see CRS Insight IN11370, SBA EIDL and crisis EIDL Grants for , by Bruce R. Lindsay; CRS Report R46284, Relief Assistance to smaller businesses: problems and Policy Options , by Robert Jay Dilger, Bruce R. Lindsay, and Sean Lowry; and CRS Insight IN11357, -Related Loan Assistance for Agricultural Enterprises , by Robert Jay Dilger, Bruce R. Lindsay, online payday FL and Sean Lowry.
SBA Disaster Loan Program: General Ideas and Concerns
Just Exactly How May Be The System Put into Effect?
You will find five ways that the SBA Disaster Loan Program could be placed into impact. Included in these are 2 kinds of presidential declarations as authorized by the Robert T. Stafford Disaster Relief and Emergency Assistance Act (the Stafford Act) 2 and three forms of SBA declarations. 3 Although the kind of statement might figure out what forms of loans are formulated available, statement kind does not have any bearing on loan terms or loan caps. The SBA Disaster Loan Program becomes available when:
1. The President issues a major catastrophe statement and authorizes both Individual Assistance (IA) and Public Assistance (PA) underneath the authority regarding the Stafford Act. 4 if the President problems this type of statement, SBA catastrophe loans become available to homeowners, renters, organizations of all of the sizes, and nonprofit businesses positioned inside the catastrophe area. Economic Injury catastrophe Loans (EIDL) can also be created for survivors in contiguous counties or any other subdivisions that are political.
2. The President makes a significant tragedy statement that only supplies the state with PA. A private nonprofit entity located within the disaster area that provides noncritical services may be eligible for a physical disaster loan and EIDL. 5 It is important to note that Home Physical Disaster Loans and Personal Property Loans are not made available to renters and homeowners under this type of declaration in such a case. […]