Print and Electronic Forms Now Match
This week, the U.S. Small Business Administration published its revised disaster recovery loan application. Until now, the SBA relied on an electronic loan application that guided applicants through a sequence of 80 screens, based on responses to questions to assess eligibility. The online application bore no resemblance to the paper form of the application, complicating the process for those who like to follow their notes as they work through the screens. The new version of the electronic loan application is identical to the paper form with three pages of information required for business loans.
The new online application can be found at https://disasterloan.sba.gov/ela. The SBA is offering multiple channels to access assistance as small businesses and their advisers become familiar with the new application. A “Help” link appears at the top of each page of the loan application, which directs applicants to online support. In addition, the SBA offers a dedicated disaster customer service line at 1-800-659-2955 or by e-mail at disastercustomerservice@sba.gov. Further information about the disaster assistance program is available at www.sba.gov/disaster The intent of the new online application is to reduce the burden on applicants and eliminate the confusion resulting from the differences between the paper and electronic versions. Applicants should also consider sharing their experiences with the new application, both positive and negative, with their elected representatives. Is the SBA a more welcoming partner to work with small businesses? Revising the online loan application is certainly a step in the right direction.
