Dear Clients and Friends,
The Small Business Administration recently posted details of the
Paycheck Protection Program
, an integral part of the newly passed CARES Act. For details on the application process please visit the
SBA Paycheck Protection
Program
.
Also, included is a
Sample Application
.
Applications will be processed through any existing SBA 7(a) lender however, we recommend you contact your local lender and inquire if they are participating. Application processing will begin as soon as
April 3rd, 2020
.
To apply, you will need the following information:
- Average monthly payroll cost
- Copies of W-3 and W-2s
- Quarterly payroll tax returns
- 2019 annual payroll summary report
- Employer paid health insurance premiums
- Personal information of business owners with a greater than 20% ownership
- A good faith certification by a 20% business owner
Please reach out to the accountant and/or partner on your account should you require any assistance in completing this application. Our team is ready to help and vested in the continued health and success of your business.