PPP LENDER MATCH

Before we match you to a lender, here is a checklist of the documents you'll need in order to make your PPP Application process with them as smooth as possible:

1. P&L and Balance Sheet
2. Payroll Processor Records
3. Payroll Summary
4. Payroll Tax Filings
5. NAICS Code
6. Date your entity was formed
7. Entity documents i.e. Article, Operating Agreement etc.
8. Copy of driver’s license or other form of government-issued ID
9. Tax documents
10. Profit and loss records to show revenue decreased 25% between comparable quarters in or calendar years of 2019 and 2020. Special rules apply for businesses formed in 2020 (second draws)

Loan Forgiveness Details

Borrowers that receive a PPP loan of $150,000 or less may receive forgiveness if the borrower satisfies SBA PPP loan forgiveness requirements, completes and submits to the loan provider the SBA Form 3508S Loan Forgiveness Application. Among other things, the application includes certifications, the number of employees the borrower was able to retain because of the loan, the estimated total amount of the loan spent on payroll costs, and the total loan amount.

All other borrowers for loan amounts greater than $150,000 or that are unable to complete the certification will need to provide the following information:

• Payroll Processor Records for the 8 to 24 weeks covered period following the funding of the PPP loan.
• Evidence borrower maintained the same number of employees or met one of the SBA defined safe harbors to maintain eligibility for full forgiveness and all other requirements are satisfied.
• Cancelled Checks for other eligible expenses (utilities, rent, mortgage interest).
• Documentation for health insurance premiums paid by the company over the 8 to 24-week covered period following the funding of the PPP loan.
• Documentation for retirement plan funding by the employer for the 8 to 24-week covered period following the funding of the PPP Loan.
• Submission of a completed SBA Form 3508 Loan Forgiveness Application to the loan provider along with all required supporting documentation.

Most businesses can request a loan in an amount of up to two and one-half months of your average monthly payroll costs from 2019 or 2020.

In order to match you with a lender, first we need to know a little more about the business: