SBA Coronavirus Assistance Program Apply for the Paycheck Protection Program

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In 2020, we helped more than 155,000 small businesses
including independent contractors get their PPP loans.

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Funds are limited. Apply before the May 31, 2021 deadline.
Business Loans, Line of Credit and Invoice Factoring from BlueVine

Loans up to $2 million

Interest rates at 1.0%

No payments for 10 months

You could qualify in minutes for
Paycheck Protection Program funds
through BlueVine

First PPP loan or Second Draw

Apply for your first PPP loan, or a Second Draw even if you previously received a PPP loan from a different lender.

Up to 100% forgivable

Full loan forgiveness for eligible expenses; and streamlined forgiveness process for loans less than $150,000.

Easy to apply

Apply online with some basic information and find out if you qualify within minutes.

Funds for your business

Independent contractors and self-employed businesses without employees are eligible to apply for up to 2.5x average monthly net profit as outlined in 1040 Schedule C1

About the program

The SBA Paycheck Protection Program (PPP) is specifically designed to aid eligible small businesses with potentially 100% forgivable loans during the Coronavirus pandemic. The latest government stimulus package commits $284.5B to PPP and allows for First and Second Draws and simplified loan forgiveness for loans less than $150,000.

What you need to apply *

Self-employed businesses or independent contractors

Example: Gig economy workers or non-employers who bill clients on a per project
or hourly basis.

  • Basic information about you and your business
  • IRS form 1040 Schedule C
  • Bank statements
  • Proof that you were a self-employed business on February 15, 2020*

Unless specified, you should use the calendar year 2019 or 2020 in your loan application and submit documents covering that period.

*We recommend you provide bank statements that show that your business was in operation on February 15, 2020. If you do business as an independent contractor on a gig economy platform (e.g., Lyft, Uber, DoorDash), we recommend that you provide statements from the same bank account that you get paid into from these platforms.

Small businesses with employees

  • Basic information about you and your business
  • Details of full-time employees and associated payroll costs
  • Details of all owners with greater than 20% ownership stakes
  • Proof of mortgage interest payments, rent payments, and utility bills
  • Bank statements
  • Quarterly 941 forms (for all four quarters of your payroll reference period), yearly 940 or 944 form, 1120 form, 1065 form, 1120-S form, or payroll processor reports with a corresponding letter from the payroll processor

For Second Draw applicants only

If your loan request is over $150K, you will also be required to submit documents at the time of your application that demonstrates at least a 25% reduction in revenue (based on gross receipts) compared to the relevant 2019 or 2020 period, which may include tax forms, quarterly financial statements, or bank statements2

*For a full list of eligibility requirements, visit our help center.

Tips for a smoother application process

  • Your business address should be the address where your business is registered, which could be your personal address if you do not have a separate business address. It is not the address of a gig economy platform.
  • Your bank statements should match your name or your business’s name, whichever you are using to fill out the “Tell Us About Your Business” portion of the application.
  • The Schedule C you submit should be from the same year that you are calculating your eligibility. Example: If you are using 2019 numbers, submit a 2019 Schedule C.
  • If you aren’t already a BlueVine customer, we recommend applying with an email address you own that has been in existence for several years (even if it is a personal email address). Newly created email addresses may make it more difficult to verify your identity.

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Loan Forgiveness

New SBA rules include simplified forgiveness for loans less than $150,000—with more guidance for borrowers to come. If BlueVine is managing your loan forgiveness process, you’ll hear from us by email once we’re ready to accept applications. No action is required. We are not accepting forgiveness applications at this time.

Frequently asked questions

The SBA Paycheck Protection Program (PPP) is specifically designed to aid eligible small businesses with forgivable loans during the Coronavirus pandemic. The latest government stimulus package commits $284.5B to PPP and allows for second draws and simplified loan forgiveness.

The PPP has been extended through May 31, 2021, however SBA funds are limited. We anticipate that funds will run out prior to the 5/31 deadline, and encourage small businesses to apply as soon as possible.

BlueVine is supporting both First Draw and Second Draw applications. We’re helping as many small businesses as possible apply for PPP, including Second Draw applicants that didn’t have their First Draw with us.

Certain supporting documentation is required to apply for a PPP loan. BlueVine recommends these documents, which have a higher likelihood of going through our automated system. Documents should be read-only. Editable PDFs will not be accepted by BlueVine.

First Draw applicants:

  • Small businesses with employees: Quarterly 941 forms (for all four quarters of your payroll reference period), yearly 940 or 944 form, 1120 form, 1065  K-1 form5 (preferred over 1065 form), 1120-S form, or payroll processor reports with a corresponding letter from the payroll processor
  • Self-employed individuals, sole proprietors, and independent contractors without employees: 2019 or 2020 1040 – Schedule C

For Second Draw applicants:

  • Small businesses with employees: Quarterly 941 forms (for all four quarters of your payroll reference period), yearly 940 or 944 form, 1120 form, 1065  K-1 form5 (preferred over 1065 form), 1120-S form, or payroll processor reports with a corresponding letter from the payroll processor
  • Self-employed individuals, sole proprietors, and independent contractors without employees: Form 1040 – Schedule C 
  • If your loan request is over $150K, you will also be required to submit documents at the time of your application that demonstrates at least a 25% reduction in revenue (based on gross receipts) compared to the same time period in 2019, which may include tax forms, quarterly financial statements, or bank statements1

Applicable Reference Period for Calculating Payroll

Unless specified, you should submit documents covering the payroll period you want to use in your loan application:

  • Small business applicants generally may use the calendar year 2019, the calendar year 2020, or the one-year period before their loan is made as their preferred payroll period
  • Self-employed individuals, sole proprietors, and independent contractors may use the calendar year 2019 or 2020. They may not use the one-year period before their loan is made
  • Seasonal borrowers may use any 12-week period between February 15, 2019 and February 15, 2020

Additional documentation may be required of all applicants:

  • Basic information about you and your business
  • Details of full-time employees and associated payroll costs
  • Details of all owners with greater than 20% ownership stakes
  • Proof of mortgage interest payments, rent payments, and utility bills
  • Bank statements
  • Small business owners without employees: apply with a social security number
  • Small business owners with employees: apply with an EIN or Tax ID

If you’re a First Draw PPP applicant, eligibility terms are similar to the initial program launched in 2020. U.S. small businesses in operation as of February 15, 2020, with fewer than 500 employees, including these now-eligible business types, can apply: 

  • Housing cooperatives with no more than 300 employees
  • Certain broadcast and news organizations
  • “Destination marketing organizations” that generally don’t engage in lobbying and have fewer than 300 employees

If you’re a Second Draw PPP applicant, you must meet the following additional criteria and note that additional conditions may apply:

  • Have 300 or fewer employees32
  • Have used your entire First Draw PPP loan on PPP-eligible expenses
  • Demonstrate a 25% or greater reduction in revenue over a certain period

The following businesses are no longer eligible for a PPP loan: 

  • Businesses that receive grants under the SBA’s new Shuttered Venue program
  • Companies traded on a public stock exchange
  • The President of the U.S., Vice President of the U.S., heads of government executive departments, members of Congress, and their spouses

Please refer to the SBA’s PPP webpage for complete information on eligibility criteria.

Small businesses that previously received a PPP loan may be eligible for a Second Draw. Generally, for small businesses to qualify for a Second Draw PPP loan, they must have been in operation on February 15, 2020, and:

  • Have fewer than 300 employees2
  • Have used their First Draw on PPP-eligible expenses
  • Demonstrate a 25% or greater reduction in revenue over a certain period

Additional conditions may apply, and various documentation is needed.

Yes, you will need to submit a new application and you may be required to provide additional information and documents.

Yes. Existing PPP borrowers are not limited to their original lender.

Yes, the new Paycheck Protection Program round includes loan forgiveness changes, including a simplified forgiveness process for borrowers with loans under $150,000 and expanded forgivable expenses. The SBA has recently released new guidance, and we’re working to translate this guidance into a more efficient and simpler forgiveness application for those that apply. BlueVine is not currently accepting loan forgiveness applications.

Businesses that fall under NAICS Code 72 are eligible for 3.5x average monthly payroll on Second Draw. The only businesses that qualify for this are either:

  • Businesses that reported a business activity code starting with 72 on their most recent income tax filing, or
  • Businesses that left their business activity code blank on their most recent income tax filing. These businesses can use NAICS 72 if (1) that code is the most applicable one to their primary business activity and (2) they can substantiate their industry activity code with alternative documentation like permits or licenses that are unique to their sector and issued by local governments.

SBA funds are limited. Deadline to apply is May 31, 2021

Funds subject to SBA availability

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