Documentation you might need to apply for a Payroll Protection Program loan.
Good morning all,

In the last 48 hours I've been on the phone or in contact with all of our friends in the banking industry to start to get an idea of the documentation that will be required through the process of applying for a Payroll Protection (Forgivable) Loan.

If you would like for us to oversee the collection of your data in preparation for your loan application please email [email protected] with your name, business name, contact information, and your bank or commercial banker name.  You will be added to our list and someone will contact you within a week to discuss what will need to be done on your end to expedite the process as much as possible.

Our clients and this community are extremely important to us and we will be providing these services at a discounted rate for all of our EXISTING clients.  We ask again that you are patient with us and we will do our best to communicate as effectively as possible throughout this process.

We've been able to accumulate the list of information from a variety of our friends in the banking industry. In the interest of being over-prepared, we are advising our clients to have the following information prepared as soon as possible.  This may not be ALL of the information required:

1.) Articles of Incorporation/Organization for each borrowing entity
2.) Bylaws/ Operating Agreement for each borrowing entity
3.) Copies of all owners' Drivers Licenses
4.) Payroll Expense Verification Documents
     a.) Payroll Summary for the last 18 months
     b.) IRS Forms 940 and 941
     c.) 1099s Issued
     d.) PEO or Leased Employee Agreements and copies of trailing 12 month invoices
5.) Trailing 12 month Profit and Loss Statement
6.) Most recent Mortgage Statement (if you own your building)
7.) Copy of your lease agreement (if you rent your building)
8.) Last 3 months of utility bills
9.) Completed Bank Application (not yet available)
10.) Personal Financial Statement (format not confirmed)

We know this is probably the most stressful time in many of your lives.  We will do everything that we can to help you navigate this changing environment.

Please continue to be patient with us as we are able to distribute information to all of you.

Thank you.



Tim Petrey, CPA, CGMA
Managing Partner
330.759.8522 ext. 103

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