SBA Economic Injury Disaster Loan (EIDL) Assistance Program
Business Finance Group is here to assist your business in presenting a clear vision of your working needs to the SBA.
STEP 1 – INITIAL INTERVIEW AND ELIGIBILITY DETERMINATION: Contact BFG to setup an initial interview to assess your businesses cash flow needs and your eligibility under the program. BFG will then determine the loan packaging fee charged and will send a copy of the fee agreement and payment instructions prior to our commencement (standard fee is $2,500, but more complicated cases will be priced accordingly). Upon receipt of payment by BFG, we will proceed to steps 2 & Step 3. We commit to donate 10% of our loan packaging fee into local communities to further help those families in need.
STEP 2 – GATHER DOCUMENTATION FROM BUSINESS OWNER: BFG will provide a checklist of the items needed to apply for the EIDL Program, based on your initial interview. We will work closely with you to answer any questions. Timely response is critical as the SBA will be overloaded with applications.
STEP 3 – COMPLETE WORKING ANALYSIS AND SUBMIT APPLICATION: BFG will complete a Working Capital Assessment, conduct an interview with you to confirm the loan amount, and obtain any outstanding forms or documents. BFG will submit the completed package to the SBA. BFG will work with your EIDL case manager to respond to any questions and work with you on any obtaining any additional documentation.
EIDL Program Details
>Loans up to $2,000,000
>Fixed Interest Rate
Up to 30 years (generally working capital loans range from 5-10 years depending on need). The SBA case manager will make the final decision.
Important! Per SBA, any additional documents required by SBA must be submitted within 5 days of request or it will delay your application!