PPP APPLICATION CHECKLIST

PPP APPLICATION CHECK LIST

Use this check list to make sure that you have what you need BEFORE applying for the Payroll Protection Program
In order to be eligible for a loan, first-time businesses must have been in operation on February 15, 2020.
INSTRUCTIONS
Please check the answers to show what documents that you do have access to. Just because you may not be able to check everything off does not mean you can not apply. You may be able to pull together the information with assistance.

Only complete the section that applies to your business.

None of the questions are mandatory.
Date

Month Day Year
Date
Business Coach Email (This will be sent to your business coach)
example@example.com
Would you like to meet with a business coach?
COMPANY INFORMATION
Company Name
Was your business started before Febuary 2020
Name

First Name Last Name
Address

Street Address

Street Address Line 2

City State / Province

Postal / Zip Code
Your Email
example@example.com
Phone Number

Area Code Phone Number
Please enter the organization that you are associated with.
Please enter the email address of the organization.
example@example.com
Did you apply for PPP in the last rounds
What financial institution did you apply with?
Did you receive PPP funding in the last rounds
How much PPP funding have you received?
Have you applied for PPP forgiveness?
BUSINESS TYPE

Select the type of business and move to that section on this form.
What type of business do you operate?

Independent Contractor/Self-Employed/Sole Proprietorship with No Employees Sole Proprietorship/Self Employed with Employees Corporations (& LLCs that file as corporations) Partnerships (& LLCs that file as partnerships) Second-Draw Requirements Non-profits
Independent Contractor/Self-Employed/Sole Proprietorship with No Employees
REQUIRED ITEMS

Driver's License / Photo ID Voided Check Form 1040 Schedule C Bank Statements
Form 1040 Schedule C
If line 31 is $0 or negative, you are ineligible for a PPP loan.

Bank Statements
Please provide a bank statement that covers 2/15/2020 as proof that the Applicant was in business as of 2/15/2020. If available, bank statements that are downloaded from your bank's website will work better than scanned versions
Sole Proprietorship/Self Employed with Employees
REQUIRED ITEMS

Driver's License / Photo ID Voided Check Form 1040 Schedule C Bank Statements Proof of Payroll Form 940
Form 1040 Schedule C
If line 31 is $0 or negative, you are ineligible to include this owner's income in the PPP loan calculation.

Bank Statements
Please provide a bank statement that covers 2/15/2020 as proof that the Applicant was in business as of 2/15/2020. If available, bank statements that are downloaded from your bank's website will work better than scanned versions.

Proof of Payroll Form 940
Applicable only if you have employees.
While it is preferable to provide a 940, you may provide four 941 quarterly forms instead. If you choose to provide 941's instead of a 940, please make sure that they are four consecutive quarters covering your full calculation period (2019 or 2020). Using 941's may require a manual underwriting which can delay your application.
Corporations (& LLCs that file as corporations)
REQUIRED ITEMS

Driver's License / Photo ID Voided Check Form 1120 or 1120-S Bank Statements Proof of Payroll Form 940 Form 1040 Schedule C
Bank Statements
Please provide a bank statement that covers 2/15/2020 as proof that the Applicant was in business as of 2/15/2020. If available, bank statements that are downloaded from your bank's website will work better than scanned versions.

Form 1120 or 1120-S
To substantiate health insurance (line 24 of 1120 or line 18 of 1120-S) or retirement benefits (line 23 of 1120 or line 17 of 1120-S) to employees.

Proof of Payroll Form 940
Applicable only if you have employees.
While it is preferable to provide a 940, you may provide four 941 quarterly forms instead. If you choose to provide 941's instead of a 940, please make sure that they are four consecutive quarters covering your full calculation period (2019 or 2020). Using 941's may require a manual underwriting which can delay your application.

Form 1040 Schedule C
If line 31 is $0 or negative, you are ineligible to include this owner's income in the PPP application.
Partnerships (& LLCs that file as partnerships)
REQUIRED ITEMS

Driver's License / Photo ID Voided Check Form 1065 Bank Statements Proof of Payroll Form 940 Form 1065 Schedule K-1
Bank Statements
Please provide a bank statement that covers 2/15/2020 as proof that the Applicant was in business as of 2/15/2020. If available, bank statements that are downloaded from your bank's website will work better than scanned versions.

Form 1065

Form 1065 Schedule K-1

Please provide a K1 for each Partner with self-employment earnings in box 14a.

Proof of Payroll Form 940
While it is preferable to provide a 940, you may provide four 941 quarterly forms instead. If you choose to provide 941's instead of a 940, please make sure that they are four consecutive quarters covering your full calculation period (2019 or 2020). Using 941's may require a manual underwriting which can delay your application.
Non-profits
REQUIRED ITEMS

Driver's License / Photo ID Voided Check Part IX Form 990 Bank Statements Proof of Payroll Form 940 Form 1065 Schedule K-1
Bank Statements
Please provide a bank statement that covers 2/15/2020 as proof that the Applicant was in business as of 2/15/2020. If available, bank statements that are downloaded from your bank's website will work better than scanned versions.

Part IX Form 990
A Form 990 does not always need to be filed - this is only applicable if your non-profit files a 990.

Proof of Payroll Form 940

Applicable only if you have employees.
While it is preferable to provide a 940, you may provide four 941 quarterly forms instead. If you choose to provide 941's instead of a 940, please make sure that they are four consecutive quarters covering your full calculation period (2019 or 2020). Using 941's may require a manual underwriting which can delay your application.

Please note regarding parsonage: Only parsonage expenses that are cash payments qualify and not in-kind parsonage expenses. Alternative methods for verifying parsonage amounts - e.g., receipts, invoices, cancelled checks, or similar documentation (or failing all of those, a certification of the amount paid by the authorized representative of the church or other religious organization) - are allowed.
Second-Draw Requirements
For second-draw PPP loans more than $150,000, you must provide proof of 25% loss.

When you must substantiate that you had a 25% loss in gross receipts/gross income (Gross Profit – COGS) between 2020 and 2019, you can do so by choosing one of the following comparison choices:
REQUIRED ITEMS

Full year 2020 to full year 2019 Any quarter in 2020 to the same quarter in 2019 If your business began in the period of 1/1/2020-2/15/2020 you can compare any Q1 2020 to any other quarter in 20200 If your business began operation in Q4 2019 you can compare any Q4 2019 to any quarter in 2020 Bank Statements (all credits) Tax Documents (actuals or drafts) Quarterly financial statements
Additional comments
Signature

Clear
Should be Empty:

PPP APPLICATION CHECK LIST

INSTRUCTIONS

COMPANY INFORMATION

BUSINESS TYPE

Independent Contractor/Self-Employed/Sole Proprietorship with No Employees

Sole Proprietorship/Self Employed with Employees

Corporations (& LLCs that file as corporations)

Partnerships (& LLCs that file as partnerships)

Non-profits

Second-Draw Requirements