How to fill out SBA Coronavirus Disaster Loan Documents 

The U.S. Small Business Administration is offering targeted low-interest federal disaster loans of up to $2 million for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). There is no payment for the first 12-months and the loan duration can be stretched to 30 years.

Online filing is recommended at Disasterloan.sba.gov; there is an option for paper forms.

SCORE and SBA have received many inquiries to indicate that our clients may be struggling to fill out these forms.

Dr. Lalitha Raman, CPA, Executive VP of SCORE Houston will walk you, step by step, through the required two forms and optional many.

You may wish to download these forms so as to make it easy for you to follow along with her presentaiton.

Step 1: Submit only two forms:
1. Loan application: SBA Form 5 (Form 5C for Sole Proprietor)
2. Supporting documents: SBA Form P-109

Step 2: You may be asked for the following information:
3. Release of income taxes - completed IRS Form 4506-Ts
4. Personal Financial Statements (SBA Form 413D)
5. Schedule of Liabilities (SBA Form 202)
6. Monthly sales figures (SBA Form 1368)
7. Up to two (2) years complete business tax returns with all schedules
8. A current year-to-date profit-and-lossstatement

We have set aside ample time to answer your specific questions so please go through the forms and note down your questions as an incomplete or incorrectly filled out form will delay the sorely needed money.

Presenter: Dr. Lalitha Raman, CPA and Executive VP of SCORE Houston

Lalitha has 26 years of experience working in The City of Houston in three different departments, Health, Parks and Recreation, Public Works and Engineering. She has worked as an environmentalist, Trust Account Manager, Chief Accountant, Budget Director, Information System Manager, Fixed Asset Manager.

She has over 15 years of research experience working at Carnegie Mellon University, Michigan State University and Bhabha Atomic Energy (Bombay-India). 

Her non-profit experience is working with Braeswood place homeowner’s association for 8 years. She has been active in various accounting and business groups like the women accounts and business womens’ groups serving as president and various other capacities. 

Lalitha received B.Sc(Hons) in Physics from University of Madras, India, Ph.D from Michigan State University, M.S(Acc) from University of Houston. She is a Certified Public Accountant.