A quick post on one of the more common questions from SBA loan officers when you're requesting an SBA EIDL Loan or SBA EIDL Loan increase. SBA Loan Officers often ask for official documentation that the business owner has been approved by the Board to seek the EIDL Loan.
We've put together an example Board Resolution document, for illustrational purposes only.* In addition, we'll be adding more resources and information related to SBA support document requests. If you have questions and want to chat with us, you can start a free 15 day Skip Plus trial.
SBA EIDL Loan Board Resolution Document Example
We've outlined an example Board Resolution document since this is one of the most common support documentation requests from the SBA.
This ensures to the SBA that the Board of the company has officially approved the EIDL loan and that the person signing the letter (and requesting the EIDL loan) has the authority to request such a loan.
📌 Pro-tip: Here is a Google Doc with the example Board Resolution letter that you can duplicate.
In the above document, the key information to be sure to include in your version is:
- Your business name and EIDL application number
- Your position and capacity at the business
- That the business has authorized you to sign and has authorized the loan amount
- The document is dated and signed
Further SBA EIDL Resources and Information
Scan our blog for more of our resources. In the meantime, we'll be adding other posts with more information soon.
*Skip is not responsible for any decisions or documentation you provide to the SBA directly. The Board Resolution document is for illustrational purposes only.