Document requirements for the SBA EIDL loan [Economic Injury Disaster Loan]
If you obtained an EIDL from the SBA, you or your corporation/LLC is required to submit documents to the SBA.
The Board minutes or letter is due 6 months after funding, so it is now due for most businesses.
The insurance coverage is due 12 months after funding.
If you wish to have assistance with Board Letter of Resolution, respond to this email.
If we did NOT complete the EIDL application for you, we will need the date of funding and your Application Number
Below is a sample of the language from your SBA representative, that you should have received via email.
Letter of Resolution from Board of Directors/Individual Owner
Draft a Letter to Include the Following:
There was a board meeting held with all owners of the Entity (if applicable)
All agreed upon the loan amount
The signer of the Loan Authorization and Agreement is authorized to sign on all owner’s behalf
Must include the business name and address
Must be signed by all parties
Must include the date the letter was drafted
Must include the Application Number: XXXXXXXXXX
Must include the date of Loan Agreement: XXXXXXXX
Please importantly, Address the Letter with To Whom it May Concern or Dear SBA.
Business Owners Policy
Current/Renewal copy of business’ insurance Declarations Pages or Certificate
Must Include Policy Number, Applicant’s Name, Business Name, Business Address, and Dates of Coverage
MUST HAVE BPP COVERAGE (Business Personal Property)
Please return all required documents in PDF format.