In an effort to keep our clients up to date with the Disaster Relief from SBA we would like to inform you that as of today New Jersey and New York is declared a Disaster area and therefore you may apply for assistance directly to SBA. Please visit SBA website at https://disasterloan.sba.gov/ela/Account/Login
Please follow the steps Below for Faster processing by filling out the attached applications.
Step 1. Complete the Disaster Business Loan Application (SBA Form 5 attached).
Step 2. Complete, sign and date each Personal Financial Statement (SBA Form 413 attached) for each owner.
Step 3. Complete each Schedule of Liabilities (SBA Form 2202 attached).
Step 4. Complete and sign each Request for Transcript of Tax Return (IRS Form 4506-T) shown below. This income information, obtained from the IRS, will help us determine your repayment ability. Please also provide a personal financial statement for each Owner and also one Request For Business Transcript signed from one of the owners.
Step 5. Complete copies, including all schedules, of the most recent Federal income tax returns for the applicant business; an explanation if not available
It takes approximately 5-7 Business days to get approved and a case manager will be assigned to your case. The manager will assess the financial needs for your business for working capital and will approve and release the necessary Funds. The rate for a Disaster Relief loan is at 3.75%
Additionally Banks or Landlords might be willing to waive payments for the next 90 days and work with you on case by case basis. Please make sure you make those phone calls as soon as possible.
My office will remain a resource to inform and help you in any way possible. J.Pappas is fully vested in the Diner and Restaurant Industry as much as you are and I truly feel we are in this together. I will provide updates as they become available and post on our website JPappas.com/news. Forms will also be available on our website JPappas.com
Regards
John Pappas