Update: Paycheck Protection Program has ended
It was our honor to have supported more than 300,000 small businesses with COVID-19 relief loans to help them cover expenses, pay employees and get back on their feet.
For the best tips on running and scaling your growing business, check out the latest on our blog:
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The Paycheck Protection Program (PPP) is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Initially, this was a $350-billion program providing small businesses with eight weeks of cash-flow assistance through federally guaranteed loans that functioned similarly to a non-taxable grant. In December 2020, the government passed a stimulus package committing an additional $284.5B to PPP.
Because the PPP is available through Mar 31, 2021, and funds are limited, you’ll want to gather the right documents for the loan application right away. Here’s a checklist of what’s required:
PPP Loan Application Checklist
General Business Information Needed
- Basic information about you and your business
- Average monthly payroll costs
- Details of full-time employees and associated payroll costs
- Details of all persons with 20% or greater ownership stakes
Required documents based on First and Second Draw
|First Draw Documents||Second Draw Documents|
We understand this is a difficult time for everyone, and we’re committed to helping business owners with government emergency relief resources and clear steps.
Bluevine is an official direct non-bank lender for the government-backed SBA Paycheck Protection Program. Our entire PPP application process, including retrieving your loan number, is automated and online. Get started with a fast and secure online PPP loan application.