Thanks to Member Leon Yeh for providing the below text.
If anyone needs to apply for PPP loan :
I’ve using the First Bank for a while and they are really helpful and the link as below for your reference :
https://firstbanks.com/about-us/security-center/emergency-preparedness/COVID-19
This is what you need to submit the doc for PPP loan applications :
Documents Required to Verify Loan Amount under Paycheck Protection Program Attached
1)
Copies of payroll tax reports filed with the IRS (including Forms 941, 940, state income and unemployment tax filing reports) for the entire year of 2019 and first quarter of 2020 (if available) should be presented.
2)
Copies of payroll reports for each pay period for the preceding 12 months. Such reports should include gross wages including PTO (which may include vacation, sick, and other PTO). This includes payroll reports through pay period preceding the origination of the subject application.
3)
Documentation reflecting the health insurance premiums paid by the company under a group health plan including owners of the company for the immediately preceding 12 months prior to the date of the SBA loan origination. Copies of the monthly invoices should suffice.
4)
Documentation of all retirement plan funding by the employer for the immediately preceeding 12 months. Copies of workpapers, schedules and remittances to the retirement plan administrator should be sufficient.
The “PPP loan” is directly set up to help small businesses, which can give you 2 months of free payroll, utilities, and rent.
*** Apply via your local bank that has your business account. There’s also other SBA loans, like the EIDL loan. These are “forgivable loans”, meaning you won’t have to pay them back. ***
https://www.sba.gov/funding-
https://home.treasury.gov/
https://www.sba.gov/funding-
However, see if you qualify first. (see text above)
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PPP VS EIDL
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1. PPP LOAN:
https://www.sba.gov/document/
2. https://covid19relief.sba.gov
https://www.
3. Employee Retention Credit: