PPP Documents Needed: Sole Proprietorship / Self Employed with Employees

Revenued is currently accepting applications for the US Small Business Administration (SBA) Paycheck Protection Program (PPP). Whether you are a first-time applicant or a borrower seeking a second draw loan, we understand the urgency of PPP funding for your small business and we are working hard to facilitate this relief.

 

If you haven’t already, start your PPP application now

To streamline the application process and ensure you’re able to complete the full application using our automated platform, please check out which documents you should have ready as a Sole Proprietorship or Self Employed business with Employees:

 

 

 

1. Driver’s License / Photo ID

 

 

2. Voided Check

 

 

3. Form 1040 Schedule C

If line 31 is $0 or negative, you are ineligible to include this owner’s income in the PPP loan calculation

 

 

4. Bank Statements

Please provide a bank statement that covers 2/15/2020 as proof that the Applicant was in business as of 2/15/2020. If available, bank statements that are downloaded from your bank’s website will work better than scanned versions.

 

 

5. Proof of Payroll Form 940

*Applicable only if you have employees*

While it is preferable to provide a 940, you may provide four 941 quarterly forms instead. If you choose to provide 941’s instead of a 940, please make sure that they are four consecutive quarters covering your full calculation period (2019 or 2020). Using 941’s may require a manual underwriting which can delay your application.

 

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