Needed Economic Injury Disaster Loan Forms
Thanks to a concerted effort by the state of Michigan and the U.S. Small Business Administration Michigan small businesses are now eligible for SBA’s Economic Injury Disaster Loans. Here’s a list of documents that you will need to complete the application:
- SBA Form 5 and/or SBA Form 5c for sole proprietorship – SBA loan application
- IRS Form 4506T – Tax Information Authorization for the applicant, principals and affiliates
- Complete copies of the most recent Federal Income Tax Return
- SBA Form 2202 – Schedule of Liabilities
- SBA Form 413 – Personal Financial Statement
- SBA Form 1368 – Monthly sales figures
Click HERE to apply now. (We recommend that you complete your application online, however preparing these documents before entering the system will help streamline the process.)
Upcoming Economic Injury Disaster Loan Application Trainings: An Overview of Applying
- Wednesday, March 25, 5:00 pm to 6:00 pm – An Overview of Applying for EIDL with Congresswoman Debbie Dingell
- Thursday, March 26, 12:00 pm to 1:00 pm – An Overview of Applying for EIDL
- Thursday, March 26, 2:00 pm to 3:00 pm – An Overview of Applying for EIDL
New training opportunities and information will be added, please continue to follow for the latest list.
Additional Economic Injury Disaster Loan Information
- Low-interest loans of up to $2 million are available for small businesses and private non-profits.
- Loans may be used to pay fixed debts, payroll, accounts payable and other bills and have repayment options of up to 30 years.
- Interest rates are 3.75% for small businesses and 2.75% for private non-profits.
- Need help filling out the application? Access these step-by-step instructions
Federal and State Small Business Resources
SBA Resource Partners are ready to help with no-cost, one-on-one business counseling regarding COVID-19.
Visit Coronavirus.gov for the latest official health information and for a full list of the nation’s whole-of-government response, including safety, business and tax tips, worker assistance and more
The Michigan Department of Labor and Economic Opportunity has extended unemployment benefits for those impacted by Coronavirus – Here’s how to apply
The Michigan Economic Development Corporation’s (MEDC) call center stands ready to support businesses looking for assistance through other available state programs. For more information, visit www.michiganbusiness.org
Other Michigan government efforts pertaining to Coronavirus response can be found here.