SBA PPP Loans
Required Application Documents for 1st and 2nd PPP Loans
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:
Form 940 for 2019
Form 941s for 2019 and Q1 2020
Copies of 2019 employee W-2's for any employees earning over $100k
Monthly payroll statement or business bank account that includes February 2020
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
If Seasonal Business
Payroll reports for 12-week period starting Feb, 15 2019 or March 1, 2019
If Business Entity Not Operational from Feb 15, 2019 to Jun 30, 2019
Payroll reports for Jan 2020 through Feb 2020
Independent Contractors and Sole Proprietors:
2019 or 2020 Schedule C
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)