• Fiffik Law Group, PC

PPP Loan Application Document Checklist: What You Need

The U.S. Small Business Administration will re-open the Paycheck Protection Program (PPP) loan portal on Tuesday, January 19, 2021 to all participating PPP lenders to submit First and Second Draw loan applications to SBA.

The funding is limited and you should expect it to go fast. That means get started now. Here’s what you’ll need to submit along with your PPP Loan Application.

If your business is any of the following:

Corporation, Professional Corporation, General Partnership, Limited Liability Company or Non-Profit Corporation

All business types should provide the following:

  1. Color copy of government issued ID (front and back) of person signing application

  2. Organizational documents e.g. articles of incorporation and bylaws (corporations), certificate of organization and operating agreement (LLCs), partnership agreement. All should be fully executed (signed) by business owners.

  3. 2019 or 2020 IRS Form W-3

  4. 2019 or 2020 IRS Form 940

If you have employees making over $100,000, W-2s for employees making over $100,000.

If your business is any of the following:

Sole Proprietorship, Independent Contractor, Self-employed or single member LLC

  1. Color copy of government issued ID (front and back) of person signing application

  2. Organizational documents (if applicable) e.g. articles of incorporation and bylaws (corporations), certificate of organization and operating agreement (LLCs), partnership agreement. All should be fully executed (signed) by business owners.

If you have employees:

  1. 2019 1040 Schedule C

  2. 2019 or 2020 IRS Form W-3

  3. 2019 or 2020 IRS Form 940

If you do not have employees:

  1. 2019 1040 Schedule C

  2. Substantiation of self-employment

  3. 1099- MISC for Independent Contractors

  4. 2020 invoice, bank statement or book or record to establish you were operating effective 2/15/2020

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