What you need to know before getting Started
Before you start
You may choose an 8-week payroll period during 2019 or 2020 to calculate the amount of the loan you may be eligible to receive. All documents you provide must correspond to the selected calendar year.
If you are a franchise, please confirm that your franchise is approved with the SBA, Franchise Directory.
Here are the documents you will need to upload with your application
Documents Required for Your Business
- Articles of Incorporation or Articles of Organization
- Certificate of Beneficial Owner
Download Certificate of Beneficial Ownership Form Here
- Certificate and EIN Letter
if you are using a fictitious name or an assumed name (DBA)
- Corporate Resolution
if you are not the president of the company and will be signing the loan application. The Resolution must be signed by a majority of the owners giving you authority to sign on behalf of Company.
- Bank statement for February 2020 including the date February 15, 2020
- Franchise Addendum (if applicable)
Download Franchise Addendum Here
Documents Required to Verify the Identity of Individuals Owning 20% of More of the Business
- Unexpired driver’s license (both sides)
Documents Required to Validate Payroll Costs
Documents must correspond to the year you selected
- W-2s for all employees
- W3 or a detailed payroll report for the full year of 2019 or 2020, depending on the clear year you selected.
The report must be detailed to break down individual annual salaries
- IRS Form 941 for 4 consecutive quarter of 2019 or 2020.
- IRS Form 941 for the first quarter of 2020
(if you chose the 2019 calendar year)
- IRS Form 940 for the year 2019 or 2020
- State Quarterly Unemployment Reports
NOTE: Seasonal business and nonprofits, see rules in sba.gov Download Rules Here
Here are the documents you will need to upload before your loan is funded
These documents can be uploaded after you apply.
- Closing Form & ACH Authorization
- Voided Check or Bank ACH Instruction Form from your current bank If you are a business, the account must be your business account. Funds cannot be deposited in alternate accounts.
- Current bank statement if you changed banks since February 2020. This account must match voided check and/or ACH Info.
If you are a franchise, please confirm that your franchise is approved with the SBA, in link below.
Additional documents may be required