If I want to apply for the SBA coronavirus relief loan funding what should I do?

Deeak asked 2 years ago
I have a restaurant and I want to apply for the loan. What are the next steps?
2 Answers
Jesse Staff replied 2 years ago
I wish I could give a very simple, straightforward answer but as of right now it's a little complicated.

For any business that has been impacted by the coronavirus outbreak, in order to be eligible for assistance from the SBA, the governor of the state or territory your business is located in has to request that the SBA make an Economic Injury Disaster Loan declaration for the county where your business is.

Once that coordination between the governor of the area and the SBA is coordinated, the SBA has said it will make available information on the loan application process to "all affected communities" and also at SBA.gov/disaster .

Usually, applications for loans in declared disaster areas are found here: https://disasterloan.sba.gov/ela/

When I looked, I didn't see any areas designated under the COVID-19 program as of yet.

One thing you can do in the meantime is reach out to your governor and other elected officials to let them know your business is hoping to apply for this assistance.

There's a lot more information on the SBA loans for the coronavirus outbreak here: https://www.zenefits.com/workest/how-do-i-apply-for-the-coronavirus-small-business-loan/

I hope this helps.
Hung replied 2 years ago
Is Santa Clara county qualify for covid-19 SBA loan?
Jesse replied 2 years ago
Since we are not affiliated with the Small Business Administration (SBA), nor with any of their efforts and lending activities, we don't have anymore information than what has been made publicly available online. I would recommend visiting the SBA website and monitoring that for declarations of which counties qualify (<a href="<a href="https://www.sba.gov/">https://www.sba.gov/</a&gt&quot; rel="nofollow">https://www.sba.gov/">https://www.sba.gov/</a&gt</a&gt;;). Also, you can contact county officials in your area and/or monitor their website. Santa Clara has a dedicated portion of their site specifically regarding the coronavirus outbreak in the county here: (<a href="<a href="https://www.sccgov.org/sites/opa/opa/covid19/Pages/home.aspx">https://www.sccgov.org/sites/opa/opa/covid19/Pages/home.aspx</a&gt&quot; rel="nofollow">https://www.sccgov.org/sites/opa/opa/covid19/Pages/home.aspx">https://www.sccgov.org/sites/opa/opa/covid19/Pages/home.aspx</a&gt</a&gt;;)