Small Business Administration (SBA) Loans

Texas small businesses can now apply for SBA Economic Injury Disaster Loans to help with the COVID-19 crisis.

As you prepare to submit your application, the following financial/accounting data and information will most likely be required. You should have these documents ready:

  1. Written narrative statement justifying the nature and scope of economic injury and how/why nature of business was adversely impacted by the Coronavirus (one page/no more than two), such loss of revenues, cancelled contracts, interrupted supply chain, etc.
  2. Current Accounts Payable and Accounts Receivable Aging as of date of filing for the loan
  3. Three (3) years’ 1040 Federal Income Tax Returns for the business & owners
  4. Three (3) years’ company FYE Income Statement and Balance Sheet and latest YTD Financial Statements (Company prepared)
  5. Company and Owners’ Debt Schedule Tables [e.g., Lender, original loan amt., date, current balance, interest rate (F or V?), collateral, purpose of loan, guarantors, status (e.g., current or past due with explanation) per row in table]
  6. Monthly (reasonably detailed) two (2) years cash flow projections
  7. Three (3) years’ Monthly Sales History up to date of filing for loan
  8. Current copies of owners’ credit reports from the three (3) credit bureaus with explanations for any negative reports
  9. Owners’ Personal Financial Statements (SBA Form 413)
  10. SBA Form of Personal History for each (10% or more) owner


These free sessions will cover the basics of the SBA’s Economic Injury Disaster Loan (EIDL) program, how to apply and where you get additional help with preparing and applying for an SBA Economic Injury Disaster Loans through the SBA’s website.

The information presented on all calls will be the same. Please join at the date and time best for you.

Join by phone: +1 210-469-4148

For questions about or relating to an EIDL loan application please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail


Are there local entities providing assistance applying for the Small Business Administration (SBA) loans?

Several resources partners such as UTSA’s Small Business Development Center, the Women’s Business Center, SCORE and Liftfund are providing small businesses direct assistance with the SBA loan application. Business owners may call 1-800-659-2955 for assistance or the status of their loan application.

How much time will it take for loan funds to be distributed once a loan is approved?

The exact timeframe will vary with each application depending on the amount of documents required. The usual processing timeframe for a SBA loan is 90 days, however, SBA is working expeditiously due to the current impact of COVID-19. Business owners may call 1-800-659-2955 for the status of their loan application.

Do the SBA loan amounts vary by industry and type of business, or an individual’s credit worthiness and collateral?

SBA loan applications are reviewed on a case by case basis. The industry and type of business has no direct impact on loan amount.

I understand the interest rate is a max of 3.75%, but does it vary by the individual’s credit worthiness?

No, all small business loans are provided a fixed interest rate of 3.75% and 2.75% for non-profits. Loan terms are allowed up to 30 years.