Yahoo Web Search

Search results

  1. Jan 15, 2021 · 4. Have your paperwork ready. While the SBA has an application that they have given banks, many banks have their own process. You will need: Tax returns for at least 2019, but if you have 2 years of tax returns easily available, get those ready. Payroll reports that show clearly how you achieved your total loan amount.

  2. May 27, 2021 · Business owners need to fill out a PPP loan application — SBA Form 2483 for first-draw loans and SBA Form 2483-SD for second-draw loans — and gather all supporting documents.

  3. People also ask

  4. Apr 27, 2024 · From 3508S is a simplified form that previously was available for loans of $50,000 or less. Now it covers loans of $150,000 or less. It requires the borrower to: Describe the number of employees retained due to the PPP loan, The estimated amount of the loan proceeds spent on payroll, and. The total amount of the loan.

  5. Dec 21, 2020 · The Paycheck Protection Program (PPP) loan is a type of SBA loan designed to provide funds to help small businesses impacted by COVID-19 to keep their workers on payroll. These loans may be completely forgiven if spent on eligible expenses (mainly payroll) during a specific time period. Update: Paycheck Protection Program Loans are no longer ...

    • (405)
  6. Mar 4, 2021 · Lenders typically decide when to submit individual PPP loan applications to SBA. Therefore, any questions or concerns regarding individual PPP loan applications must be directed to your lender. If you are unsure about your PPP loan status, or if your PPP loan application has been flagged due to data anomalies, please contact your lender to get ...

  7. Jan 14, 2021 · 3) Complete Your Application. Once you’ve found a lender, you’ll be asked to complete the PPP loan application. It’s important to note that there are two applications based on whether you’ve previously received a PPP loan. We’ll go more into the two applications in a later section.

  8. Mar 5, 2021 · How to fill out the first-draw PPP application . If you are not a Form 1040, Schedule C filer, here are step-by-step instructions on how to fill out the PPP application. (If you do file Form 1040, Schedule C—and have elected to use gross income to make your calculation—see the section below on how to fill out the right PPP application form.)

  1. People also search for