- If you are having concerns regarding your company’s ability to make monthly payments due to COVID-19, please click on the red button below to download the deferment packet.
- Please review the packet carefully in order to expedite the processing of your request. If you have recently provided financial statements or tax returns, please skip this step. Once completed, please email it to DefermentDocuments@FBDC.net
- Once we receive your request, we will promptly communicate with you after reviewing your loan file. However, due to increased loan activity please allow up to 48 hours to receive a reply.
- As a reminder, the last payment made by the SBA on your behalf as approved by the CARES Act was on September 1, 2020. The SBA will resume drafting the monthly payment from the borrower’s checking account on October 1, 2020
Alabama Small Business Capital would like to share the below resources regarding support available to Alabama businesses. Please let us know if you have any questions.
Existing Alabama Small Business Capital SBA 504 Borrowers
Coronavirus Aid, Relief, and Economic Security (CARES) Act Resources
SBA Disaster Assistance in Response to the Coronavirus
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for a small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
- The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
- Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).
- 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.
- Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities.
- These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
- SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
- SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.
For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail email@example.com.