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, functioning like a non-taxable grant. In April, the Paycheck Protection Program and Health Care Enhancement Act added $310 billion to the program.
Because the PPP is available through August 8, 2020 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
- Payroll tax filings such as 941, 940/944, Scheduled C, or payroll process records
- Bank statements or bank connection
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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