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  • Additional Filing Requirements - Economic Injury Disaster Loan And Military Reservist Economic

Get Additional Filing Requirements - Economic Injury Disaster Loan And Military Reservist Economic

U. S. Small Business AdministrationOMB No. 32450017 Expiration Date: 08/31/2021ADDITIONAL FILING REQUIREMENTS ECONOMIC INJURY DISASTER LOAN (EIDL), and MILITARY RESERVIST ECONOMIC INJURY DISASTER.

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How to fill out the Additional Filing Requirements - Economic Injury Disaster Loan and Military Reservist Economic online

Filling out the Additional Filing Requirements for the Economic Injury Disaster Loan (EIDL) and Military Reservist Economic Injury Disaster Loan (MREIDL) can seem overwhelming. This guide provides clear, step-by-step instructions to help you successfully complete the form online.

Follow the steps to accurately complete the form.

  1. Click the ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin by providing your business information, including the name, address, and contact details. Ensure you double-check for accuracy to avoid issues later.
  3. Next, indicate whether you are applying for the EIDL or MREIDL by selecting the appropriate checkbox on the form.
  4. In the section labeled 'Monthly Sales Figures', provide your monthly sales figures dating back three years. If you do not have exact figures, you may estimate but mark those estimates with a small letter 'e' following the number.
  5. Complete the totals section to ensure that your figures reconcile with the sales figures reported on your tax returns for each fiscal year.
  6. If relevant, provide a financial forecast that illustrates expected income and expenses during the affected period until normal operations resume. While this is optional, it may strengthen your application.
  7. Review the form thoroughly for any errors or omissions. Make sure all required sections are filled out accurately.
  8. Once you are satisfied with your entries, proceed to save any changes made to the document. You can download, print, or share the form as needed.

Take the first step towards securing your funding by completing the form online today.

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Phase I Based on a 4x multiple of historical Monthly Average Gross Profits (limited to $300,000). Phase II Based on trend adjusted lost gross profits over the injury period (limited to the amount essential to the continued viability of the business).

Applicants may qualify for a Targeted EIDL Advance if they meet the low-income location and reduction-in-revenue criteria, and: Have 300 or fewer employees. Business entities normally eligible for the EIDL program are eligible, including sole proprietors, independent contractors, and private, nonprofit organizations.

The grant is available to businesses in low-income communities only. Eligible recipients will be contacted by the SBA directly. These businesses may receive anywhere from $1,000 to $10,000 depending on the size of their original EIDL grant.

The Small Business Administration (SBA) has reopened the Economic Injury Disaster Loan (EIDL) program to all small businesses affected by the coronavirus pandemic. ... These advances, however, are no longer available, as the SBA has given out all $20 billion as of July 11.

The CARES Act passed in March 2020 introduced the grant to pay SBA EIDL applicants an advance on their EIDL loans. These advances were treated as tax-free grants and did not need to be paid back. The program funds were exhausted in July 2020, and is no longer widely available.

Following the President's declaration of the COVID-19 Pandemic, the SBA has approved over 3.6 million loans through our Economic Injury Disaster Loan program nationwide, Administrator Jovita Carranza said. ... EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds.

Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000. ... Many have called on SBA to remove the $150,000 cap.

Who is eligible for Economic Injury Disaster Loans? To be eligible for EIDL assistance, small businesses or private non-profit organizations must have sustained economic injury and be located in a disaster declared county or contiguous county.

Gross Profit ÷ 2 = maximum loan amount You Gross Profit is Annual Revenues less Cost of Goods Sold.

Starting the week of April 6, the loan limit for COVID-19 EIDL loans will jump from six months of economic injury with a maximum loan amount of $150,000 to up to 24 months of economic injury with a maximum loan amount of $500,000.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232