PPP Application: At-A-Glance Documents Checklist

Author: Fundbox Team | January 22, 2021

The Paycheck Protection Program (PPP) is a Small Business Association (SBA) loan that can provide 1% interest loans that are potentially forgivable if borrowers use the money according to the program rules. As of December 27, 2020, Congress has approved additional funds for the PPP. Fundbox is no longer accepting PPP applications, however, the SBA can help you find a PPP lender. To help maximize your PPP application success, we have prepared a list of possible documents that you may want to have at your fingertips when it’s time to apply to your lender.

Please note that specific requirements and acceptable documents may vary depending on the lender.

Here are the PPP Application Documents You May Need: 1. Completed PPP application Form 2483 (or 2483 SD) from the SBA.gov website. 2. Proof of net revenue (sole props without employees): IRS Form 1040 Schedule C. 3. Proof of payroll/income (with employees): Applicable IRS forms (940 or 941s, 1120, 1040 Schedule C, 1065 K1s, 1099s, 990). 4. State quarterly wage unemployment insurance tax reporting forms for each quarter. 5. As proof of business operation: Any invoice, bank statement, book of record, or a 1099 MISC from 1/1/2019 to 2/15/20. 6. Bank statement showing deposit of an Economic Injury Disaster Loan (EIDL) if applicable. 7. Unexpired, government-issued driver's license or passport (for all owners over 20%). 8. Voided check (or other form of electronic funds transfer information requested by the lender). 9. Proof of 25% revenue reduction in accordance with SBA guidelines.

For more details, please see the U.S. Chamber of Commerce’s website.

Ready for more?

Apply for funding and find out if you qualify today

Want to learn more?

Subscribe to Fundbox Forward for expert insights and tips every week so you can grow.