* Include the specific disaster in your application – specifically reference “COVID-19” or Coronavirus
* Apply online vs by mail
* Write your password down; neither the system nor any personnel are able to retrieve it
* Save your work at every prompt
* Do not rush through the application. Check and recheck the filing requirements to ensure that all the needed information is submitted. The biggest reason for delays in processing is due to missing information.
* Make sure to complete all filing requirements before submitting the application and forms
* Be sure to use the same contact information (business name and the name of all owners) that you use on your federal tax returns. Double-check that they match
* If your tax returns reference other businesses that you own, you must also submit those tax returns in order to avoid processing delays
* If more funds are needed, applicants can submit supporting documents and a request for an increase. If fewer funds are needed, applicants can request a reduction in the loan amount.
* If the loan request is denied, the applicant will be given up to six months in which to provide new information and submit a written request for reconsideration
As you consider applying for the different funding sources the Federal Government is offering to businesses, please keep the following information in mind as you make the best choices for your situation:
1) Federal funds often come with restrictions. If you accept funding or receive approval from one program, this may cause you to be fully or partially ineligible for other Federal funding.
2) Federal funding often rolls out in phases and can take many forms: Loans, Grants, etc.
3) We are not currently aware of specific federal grants that are being offered at this time for business disaster recovery, but grants may become available later with specific requirements that will be determined at that time.
Our intent is to make you aware of any new offerings as soon they become available and to act as your partner to help guide you through this.