Through the SBA’s Paycheck Protection Program, small businesses can apply for loans for payroll and other eligible expenses.
The PPP was introduced to help small businesses weather the storm of the COVID-19 pandemic. Under the CARES Act, the program provides forgiveness up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Protection. The PPP provides small businesses with funds to help cover payroll costs, lease and rent payments, and other qualifying expenses.
Please make sure to have the following required documentation ready before you apply.
- 2019 IRS 941 for each quarter
- 2019 W-3
- Payroll Register/Summary for January and February 2020
- Business License
- Document reflecting your calculation for your maximum loan amount
- If you are an independent contractor or self-employed with no employees, please provide a copy of your 2019 IRS Form 1040 Schedule C.