The US SBA has made it easier to apply for disaster recovery assistance by making revisions to its electronic loan application method. Now, the number of screens that applicants have to read while filing disaster applications has been reduced significantly. The goal of SBA is to support those rebuilding after a disaster. So, the agency is trying to make the process simple and user-friendly.
SBA is there to provide assistance to communities and businesses and to help them overcome the ravages caused by tornado, earthquake, hurricane and devastating floods. The agency is always there to help small businesses get back to their feet in such crisis situation. It is just to make the loan process more simplified and streamlined that SBA has undertaken a different approach. The improvements in loan application process shall make the first steps toward recovery very convenient.
It is an easy, convenient, less time consuming application form that the SBA has made. The previous electronic loan application required users to pass through 80 screens where they had to respond to questions to determine their eligibility. But now the new system allows applicants to fill a form on SBA’s secure website. It looks like a paper application having three pages for business loans and four pages for home loans.
The form is available with the SBA’s disaster loan website. Renters, businesses and non-profits can access the form and apply for disaster loans conveniently.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com