Dear Colorado Lending Source Community,
The SBA has officially declared Colorado eligible for Economic Injury Disaster Loan assistance.
You can visit the SBA’s website to DIRECTLY APPLY for an Economic Injury Disaster loan. (Please note that the website may be slow to load due to a high volume of traffic.)
The SBA’s standard eligibility requirements still apply in that your business must be located in the United States, have 500 employees or less, and offer services directly related to the business. You will also be required to identify the impact of COVID-19 on your business.These loans for up to $2 million in financing may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid as a result of the disaster’s impact, at interest rates of 3.75% (for profits), and 2.75% (non profits) for 30 years. The loans are not intended to replace lost sales or profits or for expansion and cannot be used to pay down long-term debt.
Applicants Will Need to Provide the Following:
- Completed SBA loan application (SBA Form 5)
- Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates
- Complete copies of the most recent Federal Income Tax Return Schedule of Liabilities (SBA Form 2202)
- Personal Financial Statement (SBA Form 413)
- Income, balance sheet, and cash flow documents
If you have specific questions about the Economic Injury Disaster Loan program, please contact SBA disaster assistance customer service center at 1-800-659-2955 (TTY:1-800-877-8339) or email disastercustomerservice@sba.gov.
If you have questions about an existing loan we are available by phone, email, and are happy to schedule virtual meetings with you. Please feel free to call our main line at 303-657-0010 and leave a voicemail so that we may direct your call to the appropriate person or team.
Sincerely,
Your Colorado Lending Source Team
