African Development Center



Small Business Emergency Loan – Application – Part II – Request for Financial InformationNOTICE TO APPLICANT: APPLICATION IS NOT CONSIDERED COMPLETE UNTIL ALL REQUIRED INFORMATION, INCLUDING THAT LISTED BELOW, IS RECEIVED. Due to program demand, there will be delays in the review of incomplete applications. Only complete applications will be considered for an emergency loan. Funds may be exhausted prior to application review if information is incomplete.Any form requiring a signature, including the Initial Application, must be fully completed, signed and dated prior to application review.We have received your Initial Application for the Minnesota Small Business Emergency Loan Program. Based upon the information you provided your business appears to be eligible. In order to fully process your loan request, we need to collect financial information about the business. Below is a punch list of information we will need to evaluate your loan request. You should complete the forms noted below and return the information to Hibo Abdi at habdi@ and you may cc Nasibu Sareva nsareva@ 2018 federal tax return or prepared 2018 financial statements (if business was operating)Prepared 2019 financial statements or tax returns, if available. If not available, company prepared profit-and-loss statement (income and expense statement) and balance sheet for 2019 (or since business start if operating less than 12 months). All information must be for the operating company. 3 months itemized operating expenses – rent or mortgage, inventory, payroll (do not include currently laid off employees), and working capitalSBA Form 2202?- Schedule of Debt - Liabilities.SBA Form 1368?- Monthly sales figures. On page 1, provide 12 months of data (or since business start if operating less than 12 months). Page 2 should be completed for the period May 1, 2020 (the date the executive orders are set to be lifted) through April 30, 2021.SBA Form 413?- Signed and dated personal financial statements.Signed and dated authorization to pull your personal and/or business credit report. This must be completed for all owners who hold at least a 20% interest in the business (see attached) See ADC one-pager Credit Authorization Form available online at . Additional financial information may be requested as needed.Some of the above forms are SBA branded documents. We know that many businesses will also be applying for the SBA Economic Injury Disaster Loan Program (EIDL) and hope that this will ease the application process for both programs. All SBEL applicants are encouraged to also apply to for an EIDL loan. You can review a fact sheet about the program here.?? Fact Sheet.? ................
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