Following the SBA’s Interim Final Rule released on April 2, 2020, our team has compiled a list of documents your lender will initially request with your Paycheck Protection Program Application.
  • Application: SBA Form 2483 (Paycheck Protection Program Application Form) and payroll documentation, as described below.
  • Payroll Documentation: Along with your application, the lender will need the supporting documents that you used to calculate your average monthly payroll from the 12 month period ending December 2019. These would be documents such as payroll processor records, payroll tax filings, or Form 1099-MISC, or income and expenses from a sole proprietorship. Lenders may request your most recent quarterly tax returns (Form 941) to assist in payroll verification. For borrowers that do not have any such documentation, the borrower must provide other supporting documentation, such as bank records, sufficient to demonstrate the qualifying payroll amount. Note that these are payments to employees only. Payments to independent contractors are not included in the payroll calculations.
  • Entity Documents: If the lender does not already have loans with your business, they will likely need your entity documents such as the Articles of Organization/Incorporation, Operating Agreement or Bylaws, and Tax ID Number.