Getting your documentation ready for your PPP forgiveness application
Yes, you can still apply for PPP forgiveness! But before you do, you need to make sure you’ve got all your records and required documents in place.
Below is a list of all required documents you will need to gather to accompany your PPP loan forgiveness application. Note that your lender may have additions to this list. It’s always good to check with them as well.
-Verification documents showing the number of full-time equivalent employees on payroll and their pay rates, for the timeframe used to verify you met the staffing/pay requirements.
This includes:
- Payroll reports
- Form 941 Payroll tax filings
- State income, payroll, and unemployment insurance filings
- Any retirement and health insurance contributions verification documents
- Any documents that verify eligible interest, rent, and utility payments that were active in February 2020
-Any documents showing your eligible interest, rent, and utility payments
-Any documents showing your eligible expenses over the 24 week PPP period
Getting your loan forgiven will be a much easier process if you start the application fully prepared. Scanning any paper documents into digital format is also a good idea to be ahead of the game. Make sure you keep all your originals.
Finally, you should have your business financial statements completed at the end of your fiscal year. Remember that both your lender and the SBA may request and audit the records you provide.
If this seems like a task you just can’t manage on your own, please reach out to Halsey Resources. We’re here to help!
RESOURCES: https://home.treasury.gov/system/files/136/PPP-Forgiveness-Factsheet-508.pdf
