Preparing to Apply for

Disaster Assistance
What to Assemble
The Checklist
Avoiding Common Mistakes
SBA Disaster Assistance
The Application
 What to Assemble

• Insurance Documents
• Policy
• Declaration Page
• Tax Returns
• Personal
• Business
• Tax Identification Numbers
• Social Security Numbers
• EIN/TIN

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 What to Assemble

•Household Information

•FEMA Registration Number

•Previous Claims

•Take Pictures
• Before and After

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 SBA Disaster Application Checklist

The following information is required to complete the SBA online

application:

Contact information for all applicants

Social security numbers for all applicants

FEMA registration number

Deed, Act of Sale, or lease information

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 SBA Disaster Application Checklist

Insurance information

Financial information (e.g. income, account balances and monthly expenses)

Employer Identification Number (EIN) for business applicants (NOT

APPLICABLE FOR INDIVIDUALS)

NOTE: The loan officer may request additional information.

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 Avoid Common Mistakes

• Check information before submitting

• Email address
• Phone numbers
• Ensure amounts entered match tax returns
• Total receipts
• Cost of Goods Sold
• Review credit reports
• Address any credit issues
• Do not change banking information

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 Avoid Common Mistakes

• Check status of federal debt

• Taxes
• Guaranteed loans
• Child support
• Disaster Loans
• File tax returns timely
• Amendments
• Respond to requests promptly
• Asks questions
• Seek clarity

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Disaster Recovery and
Resiliency
Resources to Reshape Your
Business
Assistance Available from SBA
 Types of Disaster Loans Available

• Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-

damaged property owned by the business, including real estate, inventories, supplies,
machinery and equipment. Businesses of any size are eligible. Private, non-profit
organizations such as charities, churches, private universities, etc., are also eligible.
• Economic Injury Disaster Loans (EIDL) – 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.
• Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-
damaged real estate and personal property, including automobiles.
• Flood Mitigation
• Wind Mitigation

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 How Much Can I Borrow?

• Business Loans –$2,000,000 for the repair or replacement of real estate, inventories, machinery,
equipment and all other physical losses. Subject to this maximum, loan amounts cannot exceed the
verified uninsured disaster loss.
• Economic Injury Disaster Loans (EIDL) –$2,000,000 for alleviating economic injury caused by the
disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less
business interruption insurance and other recoveries up to the administrative lending limit. EIDL
assistance is available only to entities and their owners who cannot provide for their own recovery
from non-government sources, as determined by the U.S. Small Business Administration.
• Business Loan Ceiling – The $2,000,000 statutory limit for business loans applies to the combination
of physical, economic injury, mitigation and refinancing, and applies to all disaster loans to a
business and its affiliates for each disaster. If a business is a major source of employment, SBA has
the authority to waive the $2,000,000 statutory limit.
• Home Loans –$200,000 for the repair or replacement of real estate and $40,000 to repair or replace
personal property. Subject to these maximums, loan amounts cannot exceed the verified uninsured
disaster loss.

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SBA’s Disaster Loans are Different from
Other SBA Loans
SBA’s Disaster Loan funds come directly from the U.S. Treasury.

Applicants do not go through a bank to apply. Instead, apply directly to

SBA’s Disaster Assistance Program at: www.sba.gov/disaster

There is no cost to apply.

There is no obligation to take the loan if offered.

Applicants have 60 days to accept the amount offered.

Applicants can have an existing SBA Disaster Loan and still qualify for a
loan for this disaster, but the loans cannot be consolidated.

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U.S. Small Business -Office of Disaster Assistance-Field Operations Center - East
 Eligibility

• Geographic Areas
• Louisiana: All parishes
• Arkansas: Ashley, Chicot, Columbia, Lafayette, Miller & Union
• Mississippi: Adams, Amite, Claiborne, Hancock, Harrison, Issaquena, Jefferson, Marion,
Pearl River, Pike, Walthall, Warren & Wilkinson
• Texas: Cass, Harrison, Jefferson, Marion, Newton, Orange, Panola, Sabine & Shelby
• Application Filing Deadline: December 23, 2024
• Eligible Entities:
• Small businesses
• Small agricultural cooperatives
• Small businesses engaged in aquaculture
• Most private, non-profit organizations of all sizes

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 Restrictions On Loan Eligibility

• Uninsured Losses – Only uninsured or otherwise uncompensated disaster losses are

eligible. Any insurance proceeds which are required to be applied against outstanding
mortgages are not available to fund disaster repairs and do not reduce loan eligibility.
However, any insurance proceeds voluntarily applied to any outstanding mortgages do
reduce loan eligibility.
• Ineligible Property – Secondary homes, personal pleasure boats, airplanes, recreational
vehicles and similar property are not eligible, unless used for business purposes. Property
such as antiques and collections are eligible only to the extent of their functional value.
Amounts for landscaping, swimming pools, etc., are limited.
• Noncompliance – Applicants who have not complied with the terms of previous SBA loans
may not be eligible. This includes borrowers who did not maintain flood and/or hazard
insurance on previous SBA loans.

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 Interest Rates

• Economic Injury Loans

• Businesses & Small Agricultural Cooperatives – 4.000%
• Non-Profit Organizations - 2.375%
• Interest does not begin to accrue until 12 months from the date
of the initial disaster loan disbursement.
• SBA disaster loan repayment begins 12 months from the date of
the first disbursement.

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Disaster Loan Terms

What are the collateral requirements?

• Disaster Loans over $25,000 require collateral.

• SBA takes real estate as collateral when it is available.

• SBA will not decline a loan for lack of collateral,

but requires borrowers to pledge what is available.

• Maximum maturity of 30 years

U.S. Small Business -Office of Disaster Assistance-Field Operations Center - East 16 16

 Types of SBA Disaster Declarations

Declarations for Physical Damages/Natural Disasters

• Presidential
Individual Assistance – Includes all SBA loan programs to residents
and businesses in declared counties/parishes/tribal nations
Public Assistance – Includes SBA loans to certain private nonprofits of
a governmental nature

• Administrative (Agency)
Includes all SBA loan programs to residents and businesses in
declared counties/parishes/tribal nations

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 Other SBA Disaster Declarations

Declarations for Economic Injury Disaster Loans

(EIDL) to Small Non-Farm Businesses and Most
Private Nonprofits
• Governor’s Certification - for economic impacts to small
businesses, which includes a fishery resource disaster
under 308 (b) of the Interjurisdictional Fisheries Act of
1986, as amended
• Secretary of Agriculture - declared for droughts or extreme
weather
• Military Reservist – for small business losses suffered due
to loss an essential employee called for active military
duty during a period of military conflict

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 SBA’s Disaster Loan Programs

• Business and Home Loans for Property Damages

Low-interest direct loans to businesses, nonprofits, homeowners
and renters not covered by insurance or other recovery funds
• Economic Injury Loans for Working Capital Needs
Low-interest direct loans to small businesses and most private
nonprofit organizations

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 SBA Disaster Loan Limits

Types of Loans Borrowers Purpose Max. Amount

Business Loans Businesses and private Repair or replace real $2 million *
nonprofits estate, inventory,
equipment, etc.
Economic Injury Loans Small businesses and Working capital loans $2 million *
private nonprofits

Home Loans Homeowners Repair or replace $200,000

primary residence

Home Loans Homeowners and Repair or replace $40,000

renters personal property

Mitigation Businesses, private Mitigate / prevent 20% of verified physical

nonprofits and future loss of the same damage. Homeowners
homeowners. type limited to $200,000.

*The maximum business loan is $2 million, unless the

business qualifies as a Major Source of Employment (MSE).
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 Making Recovery Affordable

The Small Business Act and additional disaster laws

provide SBA tools to make disaster loans
affordable:
• Low-interest (below market) rates -set quarterly
• Affordable long terms (either 15 or 30 years)
• Payments are based on borrower’s ability to pay
• Economic injury disaster loans cannot be used to
refinance long term debts.

(NOTE: Loan amounts and terms are set by SBA and

based on each applicant’s financial condition)

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 Loan Eligibility Restrictions

• Only uncompensated losses (disaster losses not compensated

by insurance or other recoveries such as FEMA grants,
reimbursement by another party, settlement of a lawsuit, etc.)
are eligible.

• Applicants are not eligible if they have not complied with the
terms of previous SBA loan agreements or other Federal
obligations (e.g., failure to maintain required insurance, court-
ordered child support, student loans, or Federal Income Tax
filing requirements).

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 Application Filing Deadline

• Filing Deadline for Physical

Damage:
• 60 days from the declaration date.

• Filing Deadline for Economic

Injury:
• 9 months from the declaration
date.
• December 23, 2024 – LA-20001

In Presidential Declarations, FEMA may extend the filing deadline

for all Federal programs, including SBA.

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 Loan and Insurance Requirements
Requirements for loan approval
Eligibility
• Damaged property must
be in a declared area.
Credit History
• Applicants must have a
credit history acceptable
to SBA.
Repayment
• Applicants must show
the ability to repay all
loans.
Borrowers must obtain and
maintain appropriate insurance
as a condition of most loans.
Hazard Insurance
• Required on all secured
loans.
Flood insurance
• Required for properties
located in a Special Flood
Hazard Area (SFHA) and for
properties damaged in a
flood disaster.
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 Basic Filing Requirements

• Completed SBA loan application (SBA Form 5 or 5C).

• 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).
Other Information may also be requested.
*Although a paper application and forms are acceptable, filing electronically is
easier, faster and more accurate.

U.S. Small Business -Office of Disaster Assistance-Field Operations Center - East 25 25

 Additional Filing Requirements

Other information that may be requested:

• Complete copy, including all schedules, of the most recent Federal income
tax return for principals, general partners or managing member, and
affiliates (see filing requirements for more information).
• If the most recent Federal income tax return has not been filed, a year-end
profit-and-loss statement and balance sheet for that tax year .
• A current year-to-date profit-and-loss statement .
• Additional Filing Requirements (SBA Form 1368) providing monthly sales
figures. (This is especially important for Economic Injury Disaster Loans.)

U.S. Small Business -Office of Disaster Assistance-Field Operations Center - East 26 26

Business Type

SBA Form 5 would be completed by:

• Corporations
• Partnership
• Private Non-Profit Organizations
• Limited Partnership
• Trust
• Limited Liability Entity

SBA Form 5C would be completed by:

Sole Proprietorship

Once you make your selection the

system will automatically direct you
to the form.

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 Complete Certifications

Read and Electronically Agree to

the Certification of Truthful
Information and the Executive
Orders Document.

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Start Application – Form 5

This business type for

this example is an LLC.

This page provides

information on all the
filing requirements
necessary to have a
successfully completed
application.

To begin depress
START

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 Form 5 – Page 1

Fill in the information

on this page as
necessary, items with
a red * are
mandatory field and
you will not be able
to advance to NEXT
until these sections
are completed.

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 Form 5 – Pages 2 and 3

Page 3
Page 2 of Form 5 allows is used
the business owner to for any
provide information relevant
about any Partners or comme
Affiliate Businesses. nts

Note: If a business is a
partnership all members
must listed with the % of
ownership until the
combined entries equal
100%

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 Filing Requirements

Now that the

application is
complete, the
filing
requirements on
this page must
be submitted /
uploaded to
complete the
process.

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 Personal Financial Statement

You can use

If you indicated you have real
this form to
estate you must complete this
complete
form, supplying additional
your
information
personal
financial
statement or
upload a
financial
statement
you already
have by
scanning
and
uploading
that
document
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 Personal Assets / Debits

The
applicant
and any
partner
would
need to
provide
informati
on on
assets
and
debits

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Schedule of Liabilities – SBA form 2202
Applicant would click on Schedule of Liabilities
and either complete the SBA form or upload the
applicant’s document

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Uploaded 4506T
The 4506T
can be
uploaded
once the
form is
printed and
signed. You
would need
to save a
copy on
your
desktop,
once saved
browse find
the
document
and upload.

You could
also opt to
deliver
offline
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Electronically file 4506T
Each Applicant and Partner must submit a 4506T

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4506T Uploaded Successful

Once the 4506 T is uploaded you will

receive a message back indicating the
transmittal was successful. Make
sure all fields are complete. All
partners must submit this form for
their individual and business taxes.

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 Tax Returns
To complete your application you must
upload your most recent tax returns.

Taxes would be
scanned and saved
on the desktop. You
would browse your
desktop and then
upload the tax
returns.

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Certificate as to Truthful Information

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 Filing Requirements Complete
You can see that all filing requirements no longer say “start” what shows now is all filing
requirements have been updated and the application is ready to submit

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Application Successfully Submitted

Once the application is successfully

submitted you will get this page. In the
right hand corner a message indicator
will appear. The message confirms
submittal of the application

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 Business Losses

A Sole-Proprietor will use

“Sole-Proprietor” and
“Economic Injury (EIDL).

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 Form 5C continued -Debts and Assets Information

Fill in the information blocks

and then hit next. Fields
marked with a red asterisk is
a required field.

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 Form 5C continued - Disclosure Statements

Fill in the information as

required and then hit next.

Fields marked with a red

asterisk is a required field.

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Form 5C continued - Consent and Additional Comments

Read the
information, check Additional Comments are used for
“All the clarifying or additional information.
information…” then
click “Next”. Click “Next” to continue the process.

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Form 5C continued - Affiliated Businesses

Fill out the Affiliated

Business information
then click “Save”.

To continue the
process click “Next”.

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 Completing IRS Form 4506-T

Once you have

finished the SBA
Form 5C, the tax
transcript
information will need
to be completed.

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 Request for Transcript of Tax Return

Form 4506T can be

submitted
electronically, via
upload or offline. If
the eSign option
populates click
through the options
until the document is
successfully
completed. If you
upload the document
you would save it on
your desktop, select
browse and then
upload.

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Request for Transcript of Tax Return - Download / Upload

If you chose to deliver a copy this

alert will appear. And you will no
longer be able to upload
information. The document will
have to be submitted offline.

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Request for Transcript of Tax Return - Download / Upload

Successfully Uploaded will

Once you have downloaded appear when finished.
your tax returns you can Then click “Next” to continue
upload. the process.

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 Filing Requirements

Once the tax returns are

complete sign the final Truthful
Information Statement.

64
 Submit Application

Finally you can submit

your application when
the “Submit” icon
appears.

65
 Application Submission Confirmation

After
submission you
will see that
your
application
number has
been
submitted.

66
Message Center

67
Application Status

68
 Special Note

If you receive a message like the one below, depress “SAVE”

so that you don’t lose your information.

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 Summary Information

• Submit application online by using the MySBA Loan Portal at

https://lending.sba.gov
• Insurance Requirements
• SBA may require you to obtain and maintain appropriate insurance
• Protects each borrower and the Agency
• Collateral property located in a special flood hazard area must purchase and maintain
flood insurance
• SBA’s Customer Service Center
• Email: disastercustomerservice@sba.gov
• Phone: 1-800-659-2955
• Deaf, hard of hearing, or have a speech disability: Please dial 7-1-1 to access
telecommunications relay services

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 Assistance from SBA Resource Partners

Louisiana Small Business Development Centers (SBDCs)

SBDCs are providing the following services to help small businesses impacted by the disaster
(no charge for any services):
• Counseling for financial, accounting, marketing and other post-disaster challenges
• Management and technical assistance
• Business planning to help business owners re-establish their operations and plan for
their future
• Help in reconstructing damaged or destroyed business records
• Assistance with updating or rewriting business plans
• Assistance with accessing government contracts and procurement related to the
disaster
www.louisianasbdc.org

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 Assistance from SBA Resource Partners

• SCORE - Helping America’s Small Businesses

SCORE has experts in virtually every area of business management to mentor small
businesses. Mentors are available to help small businesses with their disaster recovery (no
charge for individual and team counseling).
• Services include:
• Free online disaster preparedness/recovery resources for small business at
www.score.org/disaster-preparedness-recovery
• Matching volunteer business-management mentors with clients in need of expert
advice
• In-depth counseling and training with small business owners and managers
• Help to identify business problems, determine the causes and find solutions
• Maintaining a confidential and personal relationship
Contact a SCORE Chapter or visit the SCORE website at https://www.score.org/

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 Assistance From SBA Resource Partners

Women’s Business Resource Centers

Women’s Business Centers (WBCs) WBCs provide technical training and counseling to
women and others who are currently in business or thinking about starting a business.
Assistance is targeted to meet specific needs whether a beginner or seasoned entrepreneur

• Urban League of Louisiana Center for Entrepreneurship & Innovation

• (504) 620-9647 wbrc@urbanleaguela.org www.urbanleaguela.org/cei

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 Assistance from SBA Resource Partners

Veterans Business Outreach Centers (VBOCs)

Through a cooperative agreement, SBA has 22 organizations participating as Veterans Business
Outreach Centers designed to provide entrepreneurial development, business training, counseling,
and mentoring for eligible veterans who own or are starting a small business. Contact the Veterans
Business Outreach Center at https://www.vboc.msstate.edu.

VBOC LOCATION
VBOC at Mississippi State University
Starkville, MS
(662) 325-4990
VBOC@business.msstate.edu

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Questions

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 Louisiana District Office
500 Poydras Street, Suite 828
New Orleans, LA 70130
Telephone: (504) 589-6685

JO ANN LAWRENCE
jo.lawrence3@sba.gov
504-589-2879
504-256-5293 Cell