How to find out if you’re eligible for SBA disaster loan
A loan that is intended for disaster-related costs can be an effective way to repay your loan if you don’t qualify for a loan to help pay the costs of the disaster.
The loan is typically referred to as a loan for disaster and it’s an easy way to avoid the stress of the loan application process and get the money you need quickly.
To qualify for the loan, you must be able to provide the following information to the lender:Your Social Security Number, Social Security number expiration date and the name of the business or individual that is making the loan.
You must also have an income of at least 100 percent of the Federal Poverty Level.
This income is determined by your State’s income tax rate.
For more information on how your state taxes income, visit our article on how to find your income.
Your credit score, if applicable.
If you have been married for at least two years and are able to prove that you are at least 18 years old, you may qualify for loan assistance.
To do so, you need to send the following:Your original Form W-4, showing income from wages, salary, commissions, tips, tips from your own business, and tips from others, if any.
A copy of your state’s tax return or a certified copy of any other state income tax return.
The following documents are required for loan application:The original, signed Statement of Income Tax Return (Form W-2).
Your original, completed Social Security Return.
A copy or certified copy (or both) of your IRS Form 1099, if you have one.
The original certified copy or IRS Form 990, if not.
Any other documents you can provide that prove that the business you work for is the same as the business in which you are making the loans.
If you work from home, this includes your current address.
For more information about loans, including how to get a loan, visit www.sba.gov/financial/finance/financialaid/loan-help.