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The SouthStar Bank Shiner location will be closed Thursday, April 18. The Moulton and Gonzales locations will be open for service during this time.

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SBA Relief Loans: EIDL and PPP

Economic Injury Disaster Loans (EIDLs)

Small Businesses on Main Street

Small business in historic downtown community

The Small Business Administration (SBA) has implemented relief loans for businesses affected by the COVID-19 situation. Loans include Economic Injury Disaster Loans (EIDLs) to provide access to working capital, and SBA 7(a) Relief Paycheck Protection Program (PPP) to retain workforce through debt forgiveness for payroll and other eligible expenses during a defined covered period. A Preferred SBA Lender, SouthStar Bank is here to help and discuss available options for your business.


The deadline to apply for the Paycheck Protection Program (PPP) was August 8, 2020. Learn more about PPP loans.

Through Economic Injury Disaster Loans (EIDL), the SBA can provide up to $2 million to help meet financial obligations and operating expenses that could have been met had the Coronavirus disaster not occurred. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.

EIDL Qualification

Businesses who may qualify include:

  • Small businesses and private, non-profit organizations within designated disaster areas of a state or territory
  • Businesses suffering substantial economic injury as a result of COVID-19

EIDL Application

To apply for an EIDL, visit

Required documentation includes:

  • Completed SBA loan application (SBA Form 5)
  • Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates
  • Complete copies of the most recent Federal Income Tax Return
  • Schedule of Liabilities (SBA Form 2202)
  • Personal Financial Statement (SBA Form 413)
  • Other Information that may also be requested:
    • Complete copy, including all schedules, of the most recent Federal income tax return for principals, general partners or managing member, and affiliates (see filing requirements for more information)
    • If the most recent Federal income tax return has not been filed, a year-end profit-and-loss statement and balance sheet for that tax year
    • A current year-to-date profit-and-loss statement
    • Additional Filing Requirements (SBA Form 1368) providing monthly sales figures

Learn more about Economic Injury Disaster Loans.


SBA 7(a) Relief Paycheck Protection Program (PPP)


The CARES ACT authorizes up to $349 billion in forgivable loans to small businesses who maintain payroll during the COVID-19 crisis. Paycheck Protection Program (PPP) loans may be used for employee payroll, salaries, mortgage interest payments, rent and utilities.

Loans will be eligible for forgiveness if workforce and pay levels are maintained.

PPP Qualification

Businesses who may qualify include:

  • Businesses in need of funds to maintain workforce
  • Businesses utilizing funds for payroll, mortgage obligations, rent or utilities
  • All businesses with 500 of fewer employees.

PPP Application

PPP applications will be accepted through your local lender beginning April 3, 2020.

The SBA is continuing to provide guidance to the banks. At this time, we recommend gathering the following:

  • Completed Paycheck Protection Program Application (SBA Form 2483)
  • 2019 IRS Quarterly 940, 941, or 944 payroll tax reports
  • Payroll reports for a twelve-month period (ending on your most recent payroll date), which will show the following information:
    1. Gross wages for each employee, including officer(s) if paid W-2 wages
    2. Paid time off for each employee
    3. Vacation pay for each employee
    4. Family medical leave pay for each employee
    5. Taxes assessed on an employee’s compensation
  • 1099s for independent contractors for 2019
  • Documentation showing total of all health insurance premiums paid by the company under a group health plan
  • Documentation of the sum of all retirement plan funding that was paid by the company
  • Completed trailing twelve-month payroll spreadsheet (download HERE)
  • Copy of current lease agreement
  • Copy of your most recent commercial mortgage statement
  • Copy of your most recent month’s utility statements (gas, electric, water)

To apply with SouthStar Bank, you may submit complete documentation as listed above directly to your local SouthStar Bank loan officer.

Learn more about the Paycheck Protection Program.




 1Subject to further SBA Guidance   2Subject to change based on current volume   3Covered period from either February 15, 2019 – June 30, 2020, or January 1, 2020 – February 29, 2020, as selected by the borrower.[/vc_column_text][vc_empty_space height=”25px”][vc_column_text]

Understanding New Programs

From the U.S. Senate Committee on Small Business & Entrepreneurship: Download a comprehensive guide to help small business owners and entrepreneurs better understand the new programs that will soon be available under the CARES ACT.

Local Support

SBA loans offer key advantages over most traditional loans and can be particularly beneficial during these trying time. As an SBA Preferred Lender, SouthStar Bank is here to help guide you through the process. Get the support and advice you need, along with streamlined processing handled by a team of experts who care about your business. Contact us today: or 512.456.0035.


Alexis Michael

Senior Vice President / Regional Credit Manager / SBA Director

512.456.0035 |

NMLS# 790782


Amanda Aaron

Vice President & Branch Executive

512.456.0035 |

NMLS# 1819235


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