Ryder Group
Business Operations & Accounting Consulting

2 Decades of quickbooks and business consulting experience has resulted in an ability to help companies compete at the next level.

We can provide onsite training and consulting in accounting best practices, emerging cloud based tools, and agile reporting.

Talk to us today and let's work together to exceed your company's potential.

  • Onsite Business Tools and Quickbooks Consulting
  • QuickBooks File Clean Up
  • Deploying known best practices in your accounting and reporting operations
  • Business tools support and purchasing

March 18, 2020

The Small Business Administration (SBA) is offering small business loans for firms impacted by the Coronavirus economic shutdown. https://disasterloan.sba.gov/ela/Information/ApplyOnline  

Be sure to let us know if you need copies of any of your tax documents.


Keep in mind these loans are most often for fires and floods and are being re-purposed to help small businesses affected by the economic shutdown due to the Coronavirus. You will see some verbiage on the forms related to property damage and valuing damages, just leave those sections blank or enter a “?”


The general rules are as follows:

For California businesses in San Diego, Los Angeles, & San Francisco Counties plus other counties listed below, owners, shareholders, members and partners who have decent credit (it does not have to be great) and have not previously defaulted on an earlier SBA loan there is an SBA loan program available. Note: If you have back taxes or past due student loans you may have additional negotiations to receive a loan. Their website said you should hear from them within 2 to 3 weeks of applying, we've already had a couple of clients apply who have promised to keep us apprised of how it's going and what the time frame turns out to be. 


If you own real estate, expect them to use the property to secure the loan, if you have business equipment such as restaurant equipment or construction machinery expect them to use the machinery and equipment as collateral for the loan.

They are also asking for information on your assets and other businesses you own. If it appears you have substantial investments that could be accessed to help your business you may be denied a loan, if you have more than one business and they are both struggling then apply for both firms. If one business is struggling and the other business is doing OK, it’s a good idea to let them know the business that does not need the financing isn’t generating enough profits to help your struggling business. Each loan is on a case by case basis.

To apply for an SBA Disaster Loan you will need to submit the following documents:

1.      Form SBA 5 (I have attached a sample form with helpful notes.) You’ll fill out the form in the name of your business, then fill out the information of any individual owners at #17 of page 2, if a business entity owns part of all of your business enter the information for the “owner entity”  at #17 of page 2 under “Business Entity Owner”.

2.      Form 4506-T is a form that permits the SBA to get transcripts of your tax returns to verify the information you submit. Complete and submit a separate Form 4506T for each owner or partner and a separate Form 4506T for the business. If you haven’t finished the 2019 taxes yet no problem, just fill out the 4506T as shown in Line 9 of the attached form and in either case be sure to add 12/31/2019.

3.      Complete copies of the 2018 or 2019 federal taxes for the business you are applying for.

4.      A completed personal financial statement for each owner from ABS 5 Line 17.

5.      A Schedule of Liabilities for the business, attached, for each loan showing on the last filed business tax return or new loans taken out since the last tax return was filed.

They may ask you for additional documents, do not submit these unless requested:

1.      You may be asked for complete federal copies of the owners’ taxes.

2.      If you haven’t filed the 2019 taxes yet, they may ask for 2019 financial statements.

3.      They may ask you for a current year to date financial statement.

4.      You may be asked to provide current monthly sales reports.





CALIFORNIA Declaration #16332 (Disaster: CA-00313)

Incident: CORONAVIRUS (COVID-19) occurring: January 31, 2020 & continuing in the California counties of: Alameda, Calaveras, Contra Costa, Los Angeles, Sacramento, San Diego, San Francisco, San Mateo, Sonoma & Tuolumne; and the contiguous California counties of: Alpine, Amador, El Dorado, Imperial, Kern, Lake, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Napa, Orange, Placer, Riverside, San Bernardino, San Joaquin, Santa Clara, Santa Cruz, Solano, Stanislaus, Sutter, Ventura & Yolo Application

Filing Deadline: December 16, 2020

Disaster Loan Assistance Available: Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster.

These loans are intended to assist through the disaster recovery period.

Credit Requirements:

 • Credit History – Applicants must have a credit history acceptable to SBA.

• Repayment – Applicants must show the ability to repay the loan.

• Collateral – Collateral is required for all EIDL loans over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.

Interest Rates: The interest rate is determined by formulas set by law and is fixed for the life of the loan. The maximum interest rate for this program is 4 percent.

Loan Terms: The law authorizes loan terms up to a maximum of 30 years. SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term.

Loan Amount Limit: The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster.

1.       The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit.

2.       SBA also considers potential contributions that are available from the business and/or its owner(s) or affiliates.

3.       If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit.



COPY OF SBA DISASTER LOAN FACT SHEET                                                       PAGE 2


Loan Eligibility Restrictions: Noncompliance – Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers who did not maintain required flood insurance and/or hazard insurance on previous SBA loans.

Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this declaration to determine how an approval of SBA disaster loan might affect their eligibility.

Refinancing: Economic injury disaster loans cannot be used to refinance long term debts. Insurance

Requirements: To protect each borrower and the Agency, SBA may require you to obtain and maintain appropriate insurance. By law, borrowers whose damaged or collateral property is located in a special flood hazard area must purchase and maintain flood insurance. SBA requires that flood insurance coverage be the lesser of 1) the total of the disaster loan, 2) the insurable value of the property, or 3) the maximum insurance available.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155

Ryder Group | Consulting