fbpx

Fountainhead PPP Round Two Checklist

ppp2checklist

PPP Round Two

For all 2nd Draw PPP Loan Requests

Under $150,000 PPP loans:

  • Entity Formation Documents, if applicable
  • Driver’s License (or passport) on all owners of 20% or more of the borrowing entity
  • 2019 or 2020 IRS Form 940/1120S (whichever year the borrower chooses to base their loan on)
  • Payroll summary report (or W2’s on all employees) for the corresponding year, which reflect all employee annual wages, taxes withheld, etc. (in order to comply with SBA’s guidelines to filter-out compensation above $100k for loan amount calculations)
  • Any other corresponding documentation that you wish to include in the loan amount calculation, such as receipts for employees’ health insurance paid by the company
  • Email Wire Info Document (download sample is on our portal)

Over $150,000 PPP loans:

  • Entity Formation Documents, if applicable
  • Driver’s License (or passport) on all owners of 20% or more of the borrowing entity
  • 2019 or 2020 IRS Form 940/1120S (whichever year the borrower chooses to base their loan on
  • IRS Form 941 (quarterly payroll tax forms) for all four quarters of 2019 and 2020 (Q4 as well, if available)
  • 2019 Business Tax Returns
  • Quarterly P&L Financial Statements for 2019 and 2020 OR just the comparative quarters showing at least a 25% revenue reduction (i.e. Q2 2019 vs. Q2 2020).  PLEASE sign the front page of these and initial each additional page.
    • If you have affiliate entities, you must also provide quarterly P&L Financial Statements for the same periods above for each entity. The SBA requires Lenders include the affiliates’ revenue in the reduction calculation
  • Payroll summary report (or W2’s) for the corresponding period, which reflect all employee annual wages, taxes withheld, etc. (in order to comply with SBA’s guidelines to filter-out compensation above $100k for loan amount calculations)
  • Any other corresponding documentation that you wish to include in the loan amount calculation, such as receipts for employees’ health insurance paid by the company
  • Wire Info Document (download sample is on our portal)

Apply With Us Today

Leave a Reply