From the Alabama District Office of the U.S. Small Business Administration (SBA) on applying for an Economic Injury Disaster Loan
Here are links to the announcement of the Alabama Disaster Declaration for the Coronavirus, as well as a fact sheet for applying for SBA Economic Injury Disaster Loans.
Due to heavy traffic on the site, non-peak hours are 7 p.m. – 7 a.m. The Office of Disaster Assistance recommends using Edge or Internet Explorer, as some have had trouble using Chrome. To prevent against delays in processing your application, please read all the steps carefully, and ensure that you provide all documentation asked for. There are upload/download prompts within the application.
Feel free to reach out to SBA’s resource partners located throughout Alabama if you need assistance with the application process. They are listed at: https://www.sba.gov/offices/district/al/birmingham . Click on Alabama District Office Resource Guide. Resource partners (Small Business Development Centers, SCORE chapters and The Catalyst) are listed beginning on page 11 and ending on Page 12.
Reminder on How to Apply
The Alabama Small Business Development Center (SBDC) Network has put together valuable information about what businesses need to do before applying:
- Hard Stuff First: Go to What to Do Now to find the forms you will need.
- On-Demand Webinar: Preparing to Apply for the SBA Economic Injury Disaster Loan (COVID-19): Alabama SBDC Network put together an excellent webinar to guide you through the process. Slides | Recording
After familiarizing yourself with the process, begin your application.
Related News
-
N-2020-61: Special Funding and Benefit Limitation Rules for Single-Employer Defined Benefit Pension Plans under the CARES Act
Notice 2020-61 provides guidance regarding the special rules relating to single-employer defined benefit pension plans under § 3608 of the CARES Act. -
Frequently Asked Questions on PPP Loan Forgiveness
The Small Business Administration (SBA), in consultation with the Department of the Treasury, is providing guidance, Frequently Asked Questions (FAQs) on PPP Loan Forgiveness, to address borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans, as provided for under section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as amended by the Paycheck Protection Program Flexibility Act (Flexibility Act). -
Dirty Dozen part 1: Taxpayers should be on the lookout for these scams
All tax scams put taxpayers at risk. This is the first of two tips taking a closer look at the IRS Dirty Dozen tax scam list. This year, taxpayers should be especially, watchful for aggressive schemes related to COVID-19 relief, including Economic Impact Payments. -
Governor Ivey Announces $50 Million Grant Program for Nonprofit and Faith-Based Organizations
Governor Kay Ivey on Thursday announced a $50 million grant program to support nonprofit and faith-based organizations who have been financially impacted by the COVID-19 pandemic. -
IRS grants additional relief for rehabilitation credit deadlines
Because of the burdens the COVID-19 pandemic has placed on taxpayers claiming the rehabilitation credit, the Internal Revenue Service today issued Notice 2020-58 (PDF) that provides additional relief to taxpayers in satisfying the substantial rehabilitation test.