SBA Economic Injury Disaster Loan Program

Wednesday Mar. 18th, 2020

Bozeman businesses suffering financial loss should carefully read the announcement below and review the provided documents about reporting financial impacts and applying for financial assistance.
The most important step is to complete the "Economic Injury Worksheet" and sending it to as soon as possible. The worksheet is a simple one-page form. We suggest you report the financial impacts for the next 30 days. You will then need to estimate your revenues for the next month and then provide your revenues from last year for the same period. If you have any questions, please contact the Montana Disaster and Emergency Services staff at the contact information below.
Letter from Disaster and Emergency Services:
"The SBA Economic Injury Disaster Loan program became available to businesses that were impacted by the Coronavirus (COVID-19) with the recent legislation signed by President Trump. These working capital loans of up to $2 million can be used to pay fixed debts, payroll and other bills that can't be paid because of the disaster's impact.
SBA's Office of Disaster Assistance will coordinate with the state's or territory's Governor to submit the request for Economic Injury Disaster Loan Assistance.

In order to make an economic injury declaration at least five small business concerns in a disaster area need to have suffered substantial economic injury as a result of the disaster and are in need of financial assistance not otherwise available on reasonable terms. The method to determine impacts of the disaster is through the collection of Economic Injury Disaster Loan worksheets. The worksheet provides an estimated economic impact of each of the businesses.