Get Your Documents Ready
We know everybody’s anxious to get going with this and we are too. You can help streamline the process by having these documents ready when you go to the portal to submit your application.
We’ll likely ask you for more info once inside the application portal, but these are good ones to start with:
Non-Profit Organizations
Form 990 (Return for Organizations Exempt from Income Tax)
Self Employed Individuals
Form 1040 Schedule C
Something that proves that you were in business on or around February 15,2020 – example: invoice, proof of payments, bank statements
Small Businesses
Form 940, 941 or 944, (or K-1 for partnerships without employees)
List of each employee with salary amounts
Payroll reports that show:
Gross wages for each employee, including officer(s) if paid W-2 wages
Paid time off, vacation pay, family medical leave pay for each employee
State and local taxes assessed on an employee’s compensation
Include 401K plans, Simple IRA, SEP IRA’s
Proof of Ownership (for all Owners over 20%)
Proof of business operation and active status from Secretary of State which must be current for the month you’re applying for your loan.