As a Small Business Owner, we want you to know we are here for you! As the economic impact of COVID-19 begins to surface and you look to apply for some government financial relief, here are a list of items that you should have ready:
- 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)
Please chat with your Roundbank Commercial Banker for further advice and assistance. More information is available on the SBA disaster assistance website at SBA.gov/Disaster
- These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
- SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.