Application Checklist: COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION

Posted on 07/13/2020 by Tammie Nolte, Big Fat Writer

Food trucks around the US could be eligible for COVID-19 Economic Injury Disaster Relief. To make the process a bit easier, FoodTruckBooking.US created a checklist and links for food truckers. Gather your info, apply to the US Small Business Administration (SBA) and get the process started ASAP.

APPLY FOR A DISASTER LOAN

[Originally published March 29, 2020 "Application Checklist: Emergency Disaster Relief". Updated July 14, 2020 with new links & new pages specifically for COVID-19 Guidance from the SBA]

FoodTruckBooking.US spoke to Patrick Bolanos who has experience and gives Facebook Live meetings on Food Trucks & Trailers – Tips & Tricks to help food truckers with the impact of the coronavirus. Patrick helped us build this application checklist.

START THE SBA APPLICATION NOW
4 QUICK ANSWERS TO THE SBA APPLICATION PROCESS

Patrick is a former CFO of a restaurant group and put together the package for a $2.5 million dollar loan with the SBA. He's been through the lengthy application process for disaster relief after Hurricane Harvey and gave us some quick answers.
1. This is a long process and you’ve suggested food truckers should get started. Won’t there be some fast tracking? Explain how long this could take and why?
  
  Yes. This is a federal emergency. The number of apps is sky rocketing. The website is crashing. Getting your application in sooner helps tremendously. It takes 3 to 4 weeks to get an approval. SBA is diligent about the information.
2. What is on offer by the SBA for food trucks and why is this interesting or beneficial?
  
  This is for small businesses. The amount will depend on the business’s financials. You can get up to 12 months’ working capital, including wages, inventory, etc.
3. We’ve heard if you keep employees, then government will allocate more benefits. Could you explain how this works and why keeping workers would work better for food trucks?
  
  The incentive is in place so fewer people are out of a job, but only applies for W2 employees.
4. With your SBA experience, how can food trucks make sure their applications make it quickly through the system?
  
  Get your taxes filed, including 2019, personal and business. Get your financials done for January & February of this year.
Patrick Bolanos is also offering to help food truckers with the SBA Disaster Relief Loan application. He charges a fee based on a small percentage of the secured loan. Send him a direct message or join his Facbook page Food Trucks & Trailers – Tips & Tricks.
GET STARTED ASAP
- Applying online is the fastest method to receive a decision about your loan eligibility.
- CoronaVirus Small Business Guidance & Loan Resources shows options for all available services.
- Complete the loan application and include a signed and dated IRS Form 4506-T giving permission for the IRS to provide SBA your tax return information.
- Apply in person at any Disaster Recovery Center and receive personal, one-on-one help from an SBA representative.
- Find a location near you by contacting our Customer Service Center. E-mail: [email protected].
- Call 1-800-659-2955 (TTY: 1-800-877-8339)
FoodTruckBooking.US is giving 100 FREE 1-year memberships to food trucks who are struggling with business and the impact of coronavirus.

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