Virginia declared a disaster area. Here’s how to apply for an SBA loan

The U.S. Small Business administration has declared Virginia, along with the rest of the country a disaster area in the wake of the coronavirus outbreak.

Now small businesses will be eligible for loans backed by the federal government. Small business owners and non-profit organizations may borrow up to $2 million due to the loss of business during the outbreak.

Prince William County and Manassas City economic development officials are urging small business owners to contact their respective offices.

In keeping with our commitment to bring you the most up to date information, we wanted to let you know that the US Small Business Administration has granted disaster declaration for Prince William County, as well as all of Virginia. As a result, affected businesses, private nonprofits, homeowners and renters may qualify for federal disaster loans. Details on the application process are provided below. If you have questions or need assistance, email our team at [email protected] or call 703-792-5510.

-Prince William County Economic Development Director Christina Winn

Applicants may apply online, receive additional disaster assistance information, and download applications.

• Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. Individuals who are deaf or hard?of?hearing may call (800) 877-8339.
• Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
• Contained in a PFD, here’s an explanation of SBA’s Disaster Loans, please see SBA’s Three-Step Process Factsheet. That can be accessed here:

Items Required for Applications:

• Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal). To see what the form looks like, an example can be found here.
• Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management.
• Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available.
• Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)

Here are the contacts for the economic development offices in Stafford County, and Manassas and Fredericksburg cities.