Posts Tagged "sbappp"

Just in case you are looking for the actual form, here it is. You can take it to any bank or credit union. We worked with OneWorldBank and found the process to be simple and efficient.

Helpful resources:

OneWorkBank Forms: https://www.oneworldbank.com/sba_ppp/

Required documents to complete application:

  • PPP Loan Application
  • Funding Form
  • Owners driver’s license
  • 12months payroll, by pay period, with Summary totals and headcount (if you do not use a payroll service that collects and pays withholding taxes paid)
  • Business entity documents
    • Articles of incorporation/ certificate of formation
    • By-Laws/ Operating Agreement
    • IRS SS-4 for Tax ID NUMBER

Instruction Video for SBA PPP: https://youtu.be/dMrV3xTcFGE

SBA Paycheck Protection Program

  • Processor: Lender
  • Use of Proceeds:
    • Payroll
    • Mortgage Interest
    • Rent
    • Utilities
    • Interest on debt owed before 02/15/2020
  • Maximum Loan: 2.5 X Avg. Monthly Payroll for preceding 12 Months.
  • Interest rate: 1% Fixed
  • Term: No payments for 6-12 Months then up to a 2-year term
  • Forgiveness: up to 100%
  • Personal Guarantee: No
  • Collateral: None 

Instruction Video for $10K EDL: https://youtu.be/1AXQt1iI4C4

Here is the link to the SBA EDL: https://covid19relief.sba.gov

Tutorial for applying online for $10,000
Update – 4/10/2020

covid-19 sba sbappp surviveandthrive

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