SBA streamlines online application for disaster loans
Business owners recovering from hurricanes and other disasters will have an easier time seeking federal assistance online, the U.S. Small Business Administration announced this week.
The SBA has revised its electronic application for low-interest disaster loans. The original form, designed in 2008, required applicants to click their way through 80 different screens.
The new system is more user-friendly, said SBA Administrator Karen Mills. The SBA reduced the number of screens and added identity-proofing software to improve site security. The agency also redesigned the online form so it looks exactly like the paper version.
"To make the loan application process more streamlined and simplified, we have taken a different approach with the online applications," Mills said in a June 18 statement. "This improvement will make those first steps toward recovery more convenient.”
To apply for an SBA disaster loan, visit https://disasterloan.sba.gov/ela/.