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Paycheck Protection Program (PPP)

Assistance for Small Businesses

The Paycheck Protection Program (PPP) prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
 


PPP Loan Forgiveness


The SBA posted revised forgiveness applications for the Paycheck Protection Program (PPP), which implement the measures contained in the Paycheck Protection Program (PPP) Flexibility Act. Read the SBA Press Release here. There are two versions of the application, which you can find below. 

Form 3508EZ
This is the borrower-friendly, streamlined forgiveness version that is intended to make the forgiveness application process easier for most PPP borrowers. The “EZ” version of the forgiveness application applies to borrowers who:
PPP Forgiveness Form 3508EZ Application
 
PPP Forgiveness Form 3508EZ Instructions


Form 3508
This is the full forgiveness application which will apply to all borrowers that do not qualify to file the streamlined 3508EZ forgiveness application
 
 

Information for Borrowers

Our teams have been fielding many questions from our PPP clients about next steps toward securing loan forgiveness. At this time, the SBA has not provided banks with the specific procedures needed for businesses to submit forgiveness applications.

Please rest assured that we share your sense of urgency for answers. You want to know if your loan will be forgiven and to what extent. We want to provide you with the guidance, reassurance and tools to confidently make that determination on time.

As soon as we receive answers from the SBA, we will communicate them to you. We will share next steps and any action required to move forward. Until then, we’re asking that you remain patient and trust that we will uphold our commitment to take care of you and your business.​

 

The Small Business Administration (SBA) has published an information sheet to guide borrowers through the process.
The fact sheet can be found here.

 

Application Process

Note: It is very important to follow the instructions and upload all required documents. Incomplete applications will significantly slow the approval process.

Part 1: Gather required documents

 

Sole Proprietor and Independent Contractors: Please use the document checklists found at the bottom of this page. 

Please use the checklist below to confirm your Paycheck Protection Program application is complete.  A printable checklist can be found here.  

☐ Payroll processor records detailing all compensation paid to each employee during February 2020.

☐ Payroll processor records detailing all compensation paid to each employee, excluding amounts per employee over $100,000, from January 1, 2019 to December 31, 2019.

☐ Documentation showing the total cost of group health care coverage from January 1, 2019 to December 31, 2019.

☐ Documentation showing the total of all employer paid retirement benefit cost from January 1, 2019 to December 31, 2019.

☐ Documentation showing all state and local taxes assessed on compensation of employees from January 1, 2019 to December 31, 2019.
 

Part 2: Complete Loan Calculator


Required document to be uploaded in borrower portal.  The maximum loan amount from the calculator must match the requested loan amount on SBA Form 2483. 
Loan Calculator

 

Part 3: Complete the SBA Application - Form SBA 2483
 

1. Access the SBA Paycheck Protection Program Application

Borrower Application 

2. Save a copy of the application to your device. 

3. Complete all fields, initial and sign the application. Digital signatures are acceptable.
 
 

Part 4: Upload your documents
 

1. Access the COVID-19 Relief portal.

Borrower Portal 

2. Use the drop down to choose “SBA Loan Request Paycheck Protection Program.”

3. Enter your name and a description of your request (loan number will be blank).

4. Use the “Choose File” button to upload documents from the application checklist (remember to upload your completed Loan Calculator spreadsheet).

5. Create a password and enter your email address. TIP: remember your credentials because you’ll need them later to and check the status of your application and upload any missing documents to this portal.

6. Choose “Submit Request” to complete your loan request.
 

This form is for individuals with Self-Employment Income who file a form 1040, Schedule C. Please use the checklist below to confirm your Paycheck Protection Program application is complete. A printable checklist can be found here. 

Document Check List – Form 1040, Schedule C Filers with No Employees
☐ SBA Form 2483 - Paycheck Protection Program Application.

☐ Completed Paycheck Protection Program Calculator. The maximum loan amount from the calculator must match the requested loan amount on SBA Form 2483.
Loan Calculator

☐ 2019 Form 1040 Schedule C. The 2019 Form 1040 Schedule C is not required to have been filed with the IRS but should be a correct representation of the Applicant’s Net Income.

☐ A 2019 IRS Form 1099-MISC, work invoice, or bank statement that establishes you are self-employed.

☐ Bank Checking Account Statement for February 2020.

☐ Copy of Driver’s License - Front & Back.

Document Check List – Form 1040, Schedule C Filers with Employees

☐ All the above Documents.

☐ 2019 IRS Form 941 from each quarter.

☐ Payroll records detailing all compensation paid to each employee, excluding amounts per employee over $100,000, from January 1, 2019 to December 31, 2019.

☐ Documentation showing all state and local taxes assessed on compensation of employees from January 1, 2019 to December 31, 2019. (State Unemployment Tax from quarterly wager reporting forms.)