Sba Form 1368 PDF Details

In the wake of disaster, small businesses and agricultural cooperatives along with eligible private non-profit organizations confront significant challenges in sustaining operations. The U.S. Small Business Administration (SBA) provides a lifeline through the Economic Injury Disaster Loan (EIDL) and Military Reservist Economic Injury Disaster Loan (MREIDL) programs to support these entities in times of need. The SBA Form 1368, central to this support, serves a critical function as it is required for economic injury loan increase requests when additional supporting documentation is unavailable. This form, an integral part of the application process, demands detailed financial disclosures, including monthly sales figures spanning three years prior to the disaster through to the most recent available month, allowing for estimates marked distinctly for clarity. Furthermore, the form encourages applicants to supplement their submissions with narrative or financial information that could better convey their economic loss, and, when possible, a financial forecast to project the impacted period's income and expenses. Recognized as a necessity, the completion of Form 1368 is designed to be straightforward, estimated to take approximately one hour, yet its completion is vital for applicants to establish the extent of economic injury directly resulting from the declared disaster or military call-up and to secure the much-needed aid to bridge their operations back to normalcy. Completing this form accurately and comprehensively can significantly impact the success of a loan application in the arduous journey to recovery.

QuestionAnswer
Form NameSba Form 1368
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namessba form 1368 pdf, sba form 1368 sample, form 1368 sba, sba eidl application form

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OMB No. 3245-0017

Expiration Date: 08/31/2021

U. S. Small Business Administration

ADDITIONAL FILING REQUIREMENTS

ECONOMIC INJURY DISASTER LOAN (EIDL), and

MILITARY RESERVIST ECONOMIC INJURY DISASTER LOAN (MREIDL)

*An EIDL is limited to providing working capital that is unavailable from other sources, as determined by the U.S. Small Business Administration (SBA), for an eligible business to continue operations until the effects of the declared disaster have passed.

*A MREIDL is limited to providing working capital that is unavailable from other sources, as determined by the SBA, for an eligible business to continue operations until the effects of a call-up to active duty (as a result of a military conflict) of an essential employee have passed.

*The APPLICANT must be a small business or small agricultural cooperative, as defined in SBA's published size standards, or an eligible private non-profit organization of any size.

*The APPLICANT must establish that the claimed economic injury is substantial and is a direct result of the declared disaster. For MREIDL, the applicant must establish the claimed economic injury is substantial and is a direct result of the call-up of an essential employee. Substantial economic injury generally means a decrease in income from operations or working capital with the result that the business is unable to meet its obligations and pay ordinary and necessary operating expenses in the normal course of business.

*The 1368 is required for an economic injury loan increase requests when supporting documentation is not available.

PROVIDE THE FOLLOWING INFORMATION IN ADDITION TO THE REQUIREMENTS ON THE

“DISASTER BUSINESS LOAN APPLICATION,” SBA FORM 5

Monthly Sales Figures

Provide monthly sales figures (you may estimate if actual figures are not available) beginning 3 years prior to the disaster and continuing through the most recent month available.

PLEASE NOTE: Identify any estimates with a small letter “e” after the number.

Month

Fiscal year

Fiscal year

Fiscal year

Current year/

to date

*Totals

*Please note: the total figures for each year should reconcile to the sales figures on your tax returns for the corresponding fiscal year.

PLEASE SUBMIT ANY ADDITIONAL NARRATIVE OR FINANCIAL

INFORMATION YOU FEEL WILL HELP ESTABLISH YOUR ECONOMIC LOSS

CONTINUED ON REVERSE

SBA Form 1368 (05-18) Reference SOP 50-30 Previous editions are obsolete.

Page 1

 

It can be helpful to provide a financial forecast to illustrate what the income and expenses for the business will be during the period affected by the disaster until normal operations resume. This is not required.

This optional format is provided for your convenience.

Period covered by this forecast. From

To

Net sales (receipts)

 

 

 

Less cost of goods sold

 

 

 

Gross profit

 

 

 

Less expenses

 

Officers salaries

 

 

 

Employee wages

 

 

 

Advertising

 

Rent

 

Utilities

 

Interest

 

Taxes

 

Insurance

 

Other expenses

 

Total expenses

 

Net profit <Loss> before income taxes

 

PLEASE SUBMIT ANY ADDITIONAL NARRATIVE OR FINANCIAL INFORMATION

YOU FEEL WILL HELP ESTABLISH YOUR ECONOMIC LOSS

Please note: The estimated burden for completing this form is 1 hour. You are not required to respond to any collection of information unless it displays a current valid OMB approval number. Comments on the burden should be sent to U.S. Small Business Administration; Chief, AIB; 409 3rd St., SW, Washington, DC 20416 and Desk Officer for the Small Business Administration; Office of Management and Budget, New Executive Office Building, Room 10202, Washington, DC 20503. OMB Approval (3245-0017). Please do not send forms to OMB.

SBA Form 1368 (05-18) Reference SOP 50-30 Previous editions are obsolete.

Page 2

How to Edit Sba Form 1368 Online for Free

The notion supporting our PDF editor was to allow it to be as simple to use as possible. You will find the general process of managing sba form 1368 pdf simple as soon as you adhere to the next steps.

Step 1: The very first step would be to choose the orange "Get Form Now" button.

Step 2: At this point, you're on the document editing page. You can add text, edit existing information, highlight specific words or phrases, put crosses or checks, add images, sign the document, erase unneeded fields, etc.

Enter the appropriate information in each part to create the PDF sba form 1368 pdf

stage 1 to completing sba eidl form form

Enter the requested data in the space Period covered by this forecast, Less cost of goods sold, Gross profit, Less expenses, Officers salaries, Employee wages, Advertising, Rent, Utilities, Interest, Taxes, and Insurance.

Completing sba eidl form form stage 2

You may be requested for specific necessary data to be able to complete the Other expenses, Total expenses, Net profit Loss before income taxes, PLEASE SUBMIT ANY ADDITIONAL, and Please note The estimated burden area.

sba eidl form form Other expenses, Total expenses, Net profit Loss before income taxes, PLEASE SUBMIT ANY ADDITIONAL, and Please note The estimated burden blanks to fill out

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