The U.S. Small Business Administration (SBA) announced that business owners can now apply for SBA disaster loans via their web portal.
After its operations were halted last week due to security issues, the SBA online portal for business owners is now open again for applications.
Applicants who want to avail the Economic Injury Disaster Loan program must resume filling out and sending applications through the web portal.
“The site is streamlined, much cleaner and easier for applicants to use,” said Matt Coleman, a spokesman for the agency’s Region II, which includes New York State. "You don’t have to download anything. You can apply online.”
Since last week, business owners have been downloading PDF files of the application forms. Once completed, the forms will be uploaded to the SBA website via a BOX widget. Submissions are also made via email, fax and postal mail.
The operations had to be halted on March 25 after SBA disconnected the online portal. The agency discovered that the personal information of 100 business owners became visible to other applicants as they applied for disaster loans. The visible information included names, addresses, birth dates, and Social Security numbers.
Free credit monitoring
SBA alerted the affected applicants and provided them free credit monitoring for one year.
The glitch took place as thousands of business owners sought financial assistance to cope with the coronavirus pandemic. SBA reported that it has seen “a surge of applications from Long Island.”
The revamped application portal may be found at covid19relief.sba.gov/#/.
Meanwhile, completed loan applications may be sent to disasterloans@sba.gov, faxed to 202-481-1505 or sent via postal mail to the U.S. Small Business Administration Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, Texas 76155.
The SBA disaster loans also can also be availed by private nonprofits with an interest rate of 2.75%.
For inquiries about the program, business owners can call 800-659-2955. The deadline of application is Dec. 21.
