SBA PPP Loans
Required Application Documents for 1st and 2nd PPP Loans
All Applicants:
SBA Quick Loan Application (choose one)
Note: If multiple owners, one signature from an authorized representative is ok.
Driver's License - color photo of driver's license, front and back, for all owners of 20%+ (passport acceptable as well) (p (
Organizational Documents - for business entities (e.g., Articles of Incorporation, Certificate of Formation, etc.)
Any Business with W-2 Employees:
Payroll Documents
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Form 940 for 2019
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Form 941s for 2019 and Q1 2020
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Copies of 2019 employee W-2's for any employees earning over $100k
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Monthly payroll statement or business bank account that includes February 2020
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PPP Payroll Report if available - payroll providers like ADP, Paychex and Gusto offer a report for PPP loans. Please check with your provider.
Proof of Other Payroll Expenses (if any) - e.g., health plan payments, retirement contributions, state unemployment taxes
Tax Return for 2019 (or if not available, then a 2019 P&L)
For 2nd PPP Loans over $150,000:
Proof of revenue decline of 25% in any quarter of 2020 compared to 2019. You can also qualify if providing a P&L for full-year 2019 and 2020 and showing a full-year revenue decline of 25%+.
Special Situations - Business Entites
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If Seasonal Business
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Payroll reports for 12-week period starting Feb, 15 2019 or March 1, 2019
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If Business Entity Not Operational from Feb 15, 2019 to Jun 30, 2019
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Payroll reports for Jan 2020 through Feb 2020
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Independent Contractors and Sole Proprietors:
2019 or 2020 Schedule C
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If 2019/2020 tax return was not filed, a Schedule C is still required (it's ok that this is prior to filing your completed tax return). Here are links to download from IRS.gov a blank 2019 Schedule C and the instructions for Schedule C.
Any 1099 forms received for 2019
Verification of continued self-employment as of Feb 15, 2020 (such as an invoice or bank statement)