Many agencies in the US applied (or tried to apply) for the Paycheck Protection Program (PPP) on Friday or over the weekend.

We’ve been getting reports on what kinds of documents they’re being asked for and have compiled a complete list.  No one is being asked for ALL of these items but each application is requiring some combination of the items below…and in many cases, most of the items below.

  • Completed Application
  • Proof of ID and citizenship (driver’s license or passport)
  • Articles of Incorporation/Organization of each borrowing entity
  • Bylaws/Operating Agreement of each borrowing entity
  • Copies of all owners’ Driver’s Licenses
  • Payroll Expense Verification documents to include:
    • IRS Form 940 and 941
    • Individual payroll reports for each employee for 2019
    • Payroll Summary Report with corresponding bank statement.
    • If a Payroll Summary Report is not available, Employee Pay Stubs as of February 15, 2020 (or corresponding period) with corresponding bank statement, Breakdown of payroll benefits (vacation, allowance for dismissal, group healthcare benefits, retirement benefits, etc.)
  • 1099s (for independent contractors)
  • Report on healthcare premium payments for 2019
  • Report on retirement contributions for 2019
  • Bank records (to verify payroll figures) for 2019
  • Certification that all employees live within the United States. If any do not, provide a detailed list with corresponding salaries of all employees outside the United States
  • Trailing 12-month Profit and Loss Statement (as of the date of application) for all applicants month by month
  • Most recent Mortgage Statement or Rent Statement (Lease)
  • Most recent utility bills (Electric, Gas, Telephone, Internet, Water)
  • Signed good faith sheet or good faith letter