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Annual Report of the Chief Counsel for Advocacy on Implementation of the Regulatory Flexibility Act

The Regulatory Flexibility Act (5 U.S.C. 601-612) requires federal agencies to consider the effects of their regulatory actions on small businesses and other small entities and to minimize any undue disproportionate burden. The chief counsel for advocacy of the U.S. Small Business Administration is charged with monitoring federal agencies' compliance with the act and with submitting an annual report to Congress.

This information applies to SBA disaster loans for Homeowner Associations (HOA), Planned Unit Developments (PUD), co-ops, condominium and other common interest developments.

Types of Disaster Loans Available to Qualified Applicants

SBA disaster business loans of up to $2 million are available to associations to repair or replace disaster-damaged common elements not fully covered by insurance or other disaster recoveries. 

Once you have decided to apply for a loan guaranteed by the SBA, you will need to collect the appropriate documents for your application. The SBA does not provide direct loans. The process starts with your local lender, working within SBA guidelines.

Use the checklist below to ensure you have everything the lender will ask for to complete your application. Once your loan package is complete, your lender will submit it to the SBA. 

If you hire employees, you need to secure information for the mandatory records and forms you must complete. Visit the Hiring Employees page on IRS.gov and search for Form W-4 - Employee’s Withholding Allowance Certificate.

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