This document package comprises the Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) Authorization and Agreement (LA&A) and the accompanying Promissory Note for a $4,700 loan granted to Valerie Vess Jimenez on February 1, 2021 (Loan #9971547900). The agreement outlines the loan’s key financial terms – a 3.75% annual interest rate, $23 monthly installments beginning twelve months after the note’s date, and a 30‑year maturity. It details collateral requirements (none for loans ≤ $25,000, security interest for larger amounts), permissible uses of proceeds (working capital for disaster‑related injury, prohibition on relocation without SBA consent, preference for American‑made equipment), and extensive compliance obligations (record‑keeping for three years, hazard insurance coverage, limits on asset distributions, equal‑opportunity posting, lobbying certifications). The borrower must certify no adverse financial changes, no undisclosed compensation, and compliance with various SBA regulations. Default triggers are enumerated (missed payments, misapplication of funds, false statements, bankruptcy, etc.), and the SBA’s rights upon default—including immediate acceleration, collateral seizure, and legal action—are specified. Disbursement may occur in increments but not later than six months from the agreement unless extended. The Promissory Note reiterates the repayment schedule, prepayment rights, default events, and SBA’s enforcement powers, and is signed electronically by both SBA representative James E. Rivera and borrower Valerie Vess Jimenez.
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Loan Financial Terms and Repayment Schedule
Specifies loan amount ($4,700), interest rate (3.75% per annum), monthly payment amount ($23), grace period of 12 months, and 30‑year maturity.