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.
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