If Congress authorizes additonal funds that allow the SBA to re-open the Paycheck Protection Program, a Loan Officer will contact you to discuss the next steps.
The SBA requires supporting documentation for the Paycheck Protection Program. While the complete list may vary based on the type of your business, we recommend you begin to compile the following documentation:
Employee wages for the last twelve months including paid time off, sick pay, and family medical pay. If you use a payroll provider (ADP, PayChex, etc.) you can request this information from them.
Withholding for state and local taxes on employee compensation.
1099’s paid to independent contractors of the core business that provide employee type functions.
Documentation regarding amounts paid for employee health insurance for the past 12 months.
Documentation regarding the amounts paid for retirement plan funding for the past 12 months.
If you haven't already, download these resources for additional information and answers to frequently asked questions about the Paycheck Protection Program: