Phoenix small businesses needing assistance with the Small Business Administration’s Economic Injury Disaster Loan application can find a 6-minute video on the Phoenix.gov/Resources website. The step-by-step tutorial covers the new simplified EIDL loan application and supplemental information that SBA may require.
The SBA disaster loan allows an advance of up to $10,000 that the agency strives to direct-deposit within 72 hours.
The new application may be submitted online or via mail, email, or fax; however, delays may occur with any delivery method other than online. To assist businesses, in case there are problems with the SBA website due to substantial demand, Phoenix created a fillable PDF file of the four online screens and disclosures.
These forms may be used for alternative submittals, but an online submission is recommended. Filling in the forms offline can speed up the time it takes for filling out the online form.
The SBA may request more information than covered on the simplified application. Phoenix has also posted the four SBA forms most likely to be requested from businesses. Download these forms from the SBA Disaster Loan Assistance Roadmap at Phoenix.gov/Resources.
“We have re-tasked our economic developers for the primary purpose of serving local businesses to help them find the resources they need,” Christine Mackay, director, Phoenix Community and Economic Development. “By posting the SBA online screens in a PDF format, businesses can collect required information while off-line and complete the online forms quickly once logged in to the SBA site.”
The short tutorial walks through information SBA requires and highlighting essential sections needing close attention. The new SBA streamlined forms ask for readily available information.
“One important point to remember is that each business owner, including spouses in some cases, must complete a separate form, as instructed by SBA,” said Mackay. “Businesses must take care to provide all the information requested to avoid application processing delays.”
At Phoenix.gov/Resources under “Business Resources,” look for the “Small Business Administration” heading, or access the video and road map directly.
Phoenix is the fifth-largest American city, home to 1.7 million people. For the third year in a row, it is America’s fastest-growing city. Phoenix was named the 2017 “Highest Performing City” by Governing Magazine. Key industries include advanced business and financial services, technology, health and life sciences, hospitality, and advanced manufacturing. At 517 square miles, with world-renowned mountain trails and opportunity for diverse lifestyles, Phoenix is nearly one half the size of Rhode Island. An average of around 100 people every day choose Phoenix to be their new home. Founded in 1868, Phoenix’s wild-west roots grew to host major events in a dynamic downtown for the Super Bowl, NCAA championships and music festivals. For more information, visit Phoenix.gov. For economic development information, visit Phoenix.gov/EconDev.
