If you applied for and received an EIDL Loan from the SBA during the first quarter of 2020, the SBA is now requesting certain documentation to satisfy the requirements of the loan. In this video we discuss several of those documents, primarily the request for a Certificate of Resolution for loans over $25,000.

The email coming from SBA requests the following:
a. A statement that the LLC held a meeting
b. A statement that the LLC authorizes acceptance of the SBA loan and specifying the loan amount
c. A statement designating an individual or individuals by name and title authorized to sign the SBA loan closing documents
d. The statement should be dated and signed by at least one member/manager/managing member of the LLC.

This statement is very similar to a statement required by many lenders and banks when you apply for many/most types of loans, especially in the Real Estate Investing world. The bank/lender requires that you document that you have the proper authority to sign the loan documents.

In this video, I reference a statement from a previous loan, that I've been able to re-use for my SBA loan.

*** UPDATE: I found a GREAT form provided by SBAFORMS - its a fillable PDF, mainly designed for a Corporation (or S-Corp) as it mentions a Board of Directors. You may be able to get it to work for an LLC as well:

[ Ссылка ]

LINK to SBA EIDL Loan Login: [ Ссылка ]
(Note, this is not the regular SBA Login, which will have its own user account)

WARNING: *** This is not legal or financial advice! This is only an example of what I've done to satisfy the requirements for my specific situation. Please consult a Lawyer or seek legal and financial advice for your specific situation. ***

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