You’ll need to enter an email address and the company tax identification number, or the primary applicant’s Social Security number. Next, select Proceed.
A verification code will be sent to the email address entered. The code will take up to two minutes to deliver. You will have five minutes to enter the verification code. If you do not see your verification code in your inbox, please check your Spam/Junk folder. If you do not receive the email, you can request a new code after the two-minute countdown, by clicking Resend Code.
The first question will ask if you have received a loan under the Paycheck Protection Program (PPP). Select Yes. Select the financial institution via drop-down menu. Enter the SBA Loan number and loan amount, select Continue. A message will appear that your PPP loan will be processed under guidelines of Second Draw PPP Loan. Select Continue.
Using the dropdown select the entity type of your business. Enter the legal name of the business as it appears on tax returns. Enter the Primary Phone Number and then Select the Purpose(s) of the loan. You can click on the Help button for additional information.
You’ll then answer a series of eligibility questions. If you are considered not eligible based on SBA guidelines, a message will appear letting you know that you are not eligible based on your response. After answering a series of questions, you will then answer Yes or No if you were operational on February 15, 2020; if you are an existing customer; and if you are a franchise.
Type in your NAICS code. You can search by typing your business type in the box. Select Yes or No for the affiliates question. Enter the number of employees the business has and enter the average gross receipts for 2019 or 2020. You can click the Help button for more information. The last two boxes of this page will have you enter your average annual net income in the last two fiscal years (after federal income tax) and your tangible net worth in case you are ineligible based on standards specified by the SBA. Select Continue.
A message will appear letting you know that you are eligible to continue with your PPP loan application. Click Continue.
Select Yes or No to indicate if your business is seasonal. The dropdown menu will have our calculation worksheets available for download and use. You can select the Inclusion and Exclusion buttons for more information on what can be included in average monthly payroll costs. Borrowers are permitted to use payroll costs from either calendar year 2019 or calendar year 2020 for their PPP loan application calculations.
After determining your average monthly payroll costs, please enter the value in the following box. The next box will auto calculate the loan amount you are qualified for. You can enter the loan amount you are requesting. The loan amount cannot exceed the loan amount you qualify for. The term on the number of months for the loan will be set to 60. Click Continue.
Now enter the date of incorporation; use the dropdown menu to select the number of years in business. Enter the preferred contact name, name of authorized representative of the borrower, and title. You’ll now need to enter the business primary address. If you do not know the parcel code, you can click on the Here link to direct you to the USPS website to help locate it.
Next is the ownership details. Use the dropdown menu to select the number of individuals who own 20% or more of the business or have a controlling interest. Enter the owner details in the following fields. The Community Reinvestment Act details and demographic information are optional, you can fill out this information if you would like. Click Continue to proceed.
You can now upload your documentation; please note the acceptable file types. The fields marked with an asterisk are required. Select upload and select the document(s) to upload. A green banner and green checkmark will appear letting you know that the document was successfully uploaded. Please upload all documentation that applies to you. Click Continue. You can now review and eSign your application. If an eSignature error occurs, you can download and upload the PPP application form. Click Continue.
Your application has now been submitted and you will receive your application number for future reference. Click OK to return to the main website.
End of transcript. Press the escape key to close the transcript window.
