Get prepared for your Paycheck Protection Program (PPP) Loan application!
Use the following checklist to gather the documentation that you need to complete your application.
How do I know if my business is eligible? Previous PPP loan recipients with fewer than 300 employees may qualify if they have more than a 25% drop in revenue quarter over quarter from the previous year. If you are applying for your second PPP loan, you will need to have used the full amount of funds from your first PPP loan before your second is disbursed.
CARES Act Report
A CARES Act Report is generated straight from your payroll provider, such as ADP or Gusto. This method allows your loan processing team to review your loan quicker. Visit the SmartBiz Learning Center to learn how your payroll processor can help.
Tax Documents for 2019
Choose a tax document that’s easiest for you to provide.
Your selected tax document will depend on your business’s entity type.
Quarterly Profit & Loss Statements
Required for loans over $150,000
You will need to submit a photo or copy of a voided check, front and back, from your business bank checking account.
Driver’s License or Passport
You will need a photo or color copy of the front and back of your identification. Taking a photo with your smartphone works well.