SBA Care Loans - What You'll Need to Apply

Here's a list of the documentation you'll need to apply:

  • Completed Paycheck Protection Loan Application - SBA Form 2483
    • Please provide a brief explanation of how you calculated your average monthly payroll to your loan officer (show your work).
  • 2019 Income Statement by Month OR 2019 Federal Tax Return
  • January & February 2020 Income Statement by Month (include March 2020 Income Statement if available)
  • 2019 IRS Quarterly and Annual 940, 941 or 944 payroll tax reports (Other annual reports such as a W2 or W3 summary for 2019 may be sufficient)
  • January, February, and March 2020 Payroll Reports. Payroll reports must show the following:
    • Gross wages for each employee, including the officer(s) if paid W-2 wages
    • Paid time off for each employee
    • Vacation pay for each employee
    • Family medical leave pay for each employee
    • State and local taxes assessed on the employee's compensation for each employee
  • We may need documentation of your company sponsored health insurance & retirement plans - if required.
  • Driver's license  & Most recent Personal Tax Return for each owner
  • Completed Additional PPP Loan Information Document
  • Completed Affiliated Businesses Addendum  (If required. Typically only if you own 20% or more of any other business entity – please check with you loan officer for further details)
  • Use of the proceeds from the PPP loan is restricted to:
    • Payroll Expense
    • Rent or Mortgage Interest Expense
    • Utilities Expense
  • After the 8 weeks immediately following the funding of your request, we will need to collect proof of qualified expenditure for loan forgiveness (Not required at time of initial PPP Loan application)
This list of documents is subject to change. We continue to monitor guidance from the SBA and the US Department of the Treasury
Preparing to Apply for a Business Loan

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