Apply for your PPP Loan Today!

We are grateful we can come alongside hundreds of business owners to provide much needed funding during this difficult time.

We are equipped and ready to help your business apply for PPP funds!

 

If you’ve never received a PPP Loan before, click here.

If you have received a PPP Loan in the past and need to apply for a 2nd PPP Loan, click here.


1st time target

For first-time borrowers:

  • You must have been in business prior to February 15, 2020
  • You can have no more than 500 employees (or fewer or more for certain business types for certain SBA size standards)
  • Your loan can be up to 2.5x your business’s average monthly payroll costs, up to a $10 million loan maximum (or $20 million for a corporate group)
  • Current economic uncertainty must make this loan request necessary to support the ongoing operations of your business
  • PPP funds are to be used for payroll costs, benefits, rent, interest payments, utility payments, PPE costs related to COVID-19, uninsured property damage from looting or vandalism during 2020

 

To apply for your 1st PPP Loan, you will need:

  • 2019 IRS Quarterly Payroll Tax Records (941 or 944) for all four quarters of the preceding 12-month period
  • 2019 IRS Annual Payroll Tax Record (940)
  • Payroll reports for a twelve-month period (concluding with your most recent payroll) which reflects the following:
  • Gross wages for each employee paid W-2 wages
  • Other Compensation for each employee
  • Federal, State and Local Taxes assessed on an employee’s compensation
  • 2019 IRS 1040 – Schedule C with accompanying 1099’s (sole proprietors and independent contractors only)
  • Invoice or bank statement from February or March 2020 (verification business was active as of Feb. 15, 2020)
  • Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan
  • Documentation showing the sum of all retirement plan funding paid by the company owner(s)
  • NAICS Code for your business  (find your NAICS code)   
  • Mortgage Interest and/or rents (2 months)
  • Interest on other debt in place before 2/15/2020 (2 months)
  • Average utility costs (2 months)
  • Employer costs for continuation of group health insurance premiums (2 months)

 

Click here to apply for your PPP Loan!

 

Please also note that the SBA has notified lenders that immediate approvals will not be provided and could take several days.


2nd time target

For second-time borrowers:

  • For most borrowers, the maximum loan amount of a Second Draw PPP Loan is 2.5x average monthly 2019 or 2020 payroll costs up to $2 million. For borrowers in the Accommodation and Food Services sector (use NAICS 72 to confirm), the maximum loan amount for a Second Draw PPP Loan is 3.5x average monthly 2019 or 2020 payroll costs up to $2 million.

 

You are eligible for a 2nd PPP Loan if:

  • You have previously received a 1st Draw PPP Loan and you have used or will use the full amount 
  • You have no more than 300 employees; and
  • You can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020

 

To apply for your 2nd PPP Loan, you will need:

IMPORTANT NOTE: For loan requests of $150,000 or less, you still have to provide documentation when you applying for your 2nd loan.

  • Documentation that shows your business experienced a revenue reduction of 25% or greater in 2020 relative to 2019.
  • Your SBA loan number
  • The phone number used on your round-1 application

 

To prove your 25% reduction in gross receipts, you will need:

  • Quarterly financial statements for the entity. If the financial statements are not audited, the Applicant must sign and date the first page of the financial statement and initial all other pages, attesting to their accuracy. If the financial statements do not specifically identify the line item(s) that constitute gross receipts, the Applicant must annotate which line item(s) constitute gross receipts.
  • Quarterly or monthly bank statements for the entity showing deposits from the relevant quarters. The Applicant must mark which deposits listed on the bank statement are gross receipts (e.g., payments for purchases of goods and services) and which do not (e.g., capital infusions).
  • Annual IRS income tax filings of the entity (required if using an annual reference period). If the entity has not yet filed a tax return for 2020, the Applicant must fill out the return forms, compute the relevant gross receipts value, and sign and date the return, attesting that the values that enter into the gross receipts computation are the same values that will be filed on the entity’s tax return.

 

Click here to apply for your 2nd PPP Loan!

 

Please also note that the SBA has notified lenders that immediate approvals will not be provided and could take several days.