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Mar 20, 20203 min read

How to Get SBA Disaster Funding in Texas

Updated: Apr 1, 2020

Your business was forced to close, and you need funds! It is important to understand how the SBA might help your business with funding due the Coronavirus (COVID-19). With the signed “Economic Injury Disaster Loan” (EIDL) declaration, Texas businesses can file for a SBA Disaster Assistance Loan. Every small business in the US is eligible! Here is the link to apply. The intent for this money is to pay for fixed debts, payroll, accounts payable and other bills because of the disaster's impact. Keep this in mind when presenting the application for this product to the SBA. This was written March 24th of 2020.

We are working on the Triple P update. This program is administered through the bank and can be forgiven! You can have an EIDL and PPP however an EIDL is not forgivable.


We have been on conference calls and speaking with various lenders about options for business owners; including this from the Houston SBA office (SBA Presentation). It will be very important that the business owner demonstrate that they cannot get credit elsewhere. Being maxed out on current debt is a good example of not being able to get additional credit. Also know, your business may not qualify for this loan; if you are financially sound and have available credit and reserves.


Now is a great time to reach out to your banker(s). Communication with creditors is key to preserving business and personal credit. Request a forbearance, payment extensions, interest only, debt restructuring and more! Your individual situation will determine what options will work best.

To qualify for SBA's EIDL, small businesses must demonstrate they have exhausted securing other funding sources. For example, not being able to modify existing agreements or perhaps being rejected by current bank and creditors could demonstrate not be able to get additional credit.


As with all loans, analyzing your current financial position is pivotal! Documentation will be required and it must be current!

If you intend to apply for this loan; start gathering your documentation now!



  • Tax returns – Business and personal returns as noted, for the previous 3 years (2016, 2017 & 2018). CONGRATULATIONS if you have already filed your 2019 business return; your 2016 return will not be required. Remember you must provide complete copies of the business return. The personal return, including all schedules, is also required for each principal owning 20% or more of the applicant business, each general partner or managing member, and each affiliate (if any owner has more than a 50% ownership in the affiliate business). Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management. If the most recent Federal income tax return has not been filed, a year-end profit and loss statement and balance sheet for that tax year is acceptable. (Note accurate financials require bank and credit card accounts to be reconciled.)

LET US HELP if you haven’t filed tax returns!


  • CURRENT Balance Sheet and Profit & Loss statement. By the time processing starts, first quarter 2020, through March 31, 2020, financials will be requested. (Note accurate financials require bank and credit card accounts to be reconciled.)

LET US HELP if your accounting is not current!


SBA Forms Needed




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