Paycheck Protection Program (First Draw)
For those businesses who didn’t participate in the previous program, we are also accepting applications for a First Draw loan under the SBA’s PPP. These will remain available until March 31, 2021.
Please complete and submit the forms below and we will work with you to process your request to the Small Business Administration. For more information on the PPP, please visit the U.S. Treasury Department.Required Documentation
Please have digital versions of the supporting documents listed below ready before starting your application. These documents are part of the application package and are required in addition to your Borrower Application Form to be eligible for consideration. Submitting a completed application package will help ensure a smooth application process.
- Proof of supporting payroll costs for 2019 (This can include reports from your payroll provider or a list of employees with salaries, taxes and benefits as evidenced by W3’s and W2’s).
- If you are a sole proprietor, please include your 2019 IRS Schedule C.
- If you are an independent contractor, please include your 2019 1099 Form.
- Document the sum of all health insurance premiums and retirement plan funding that was paid by the company owner(s) if applicable. (do not include funding that came from employees out of their paycheck deferrals).
- Include all employees and the company owners.
- Include 401K plans, Simple IRA, SEP IRA’s.
- IRS Form 941 Employer’s Payroll Tax Report for 2019 (four quarters) or similar document.
- Payroll statement for period on or around 2/15/2020 showing that business paid salaries and payroll taxes.
- A cover letter or document which summarizes the itemized figures used to calculate the average monthly payroll costs listed on the application.
