SBA Form 5, Disaster Business Loan Application

SBA Form 5, Disaster Business Loan Application
SBA Form 5, Disaster Business Loan Application

What Is SBA Form 5?

SBA Form 5, Disaster Business Loan Application is a form used by business owners to request financial assistance in repairing or replacing real estate or business property damaged during a natural disaster. The Small Business Administration (SBA) requires the information provided via the form to make eligibility and credit decisions on loan requests.

The latest version of the form was released by the SBA in February 2015. An up-to-date fillable version of the form is available for digital filing and download below:

The SBA Form 5C (Disaster Home Loan Application) is a related form used for requesting loans necessary to repair or replace personal property damaged by a federally-declared disaster.

SBA Form 5 Instructions

The SBA Disaster Loan program offers low-interest disaster loans of up to $2 million for restoring or replacing disaster-damaged, uninsured, real and personal property.

  1. To be considered eligible for the loan, the business must be adversely impacted by a state or federally-declared disaster. All data in the form provided must be complete and correct. Submitting incomplete or false information will result in civil or criminal penalties. The business owner may apply for the loan online, in-person, or by mail.
  2. The business owner is obliged to provide all the necessary data and attach the documents listed in the filing requirements listed on the form. This includes the following:
  3. The business owner has to provide a detailed description of their business. Required information includes the full address of the damaged property, the type of organization, its legal name, trade name, the business owner’s Federal Employer Identification Number (EIN), phone number, mailing address, and the date the business was established.
  4. The SBA allows using the services of an attorney, accountant, engineer, appraiser, or other representatives to help the business owner with the preparation of the application. The provided services have to be disclosed in the form.

SBA Form 5 Section 22

Section 22 was removed from the latest version of the SBA Form 5. Previously, business owners that had spouses or family members working for the SBA had to disclose that information by completing Section 22 and providing additional data at the request of the Agency within 7 business days.

SBALOANFORMS

Legal Disclamer:

The information provided on sbaloanforms.com is for general and educational purposes only and is not a substitute for professional advice. All information is provided in good faith, however, we make no representation or warranty of any kind regarding its accuracy, validity, reliability, or completeness. Consult with the appropriate professionals before taking any legal action. sbaloanforms.com will not be liable for loss or damage of any kind incurred as a result of using the information provided on the site.

SBALOANFORMS. All rights reserved. 2023 ©