Summary The “Payroll Protection Program” (PPP) application is NOW AVAILABLE (HERE).
APPLY NOW for businesses, non-profits and sole proprietors.
Independent Contractors & Self-Employed can apply Friday, April 10th.
Local banks are working hard around the clock with the SBA to ensure all PPP applications are processed as quickly as possible. If you already have an existing banking relationship you should reach out to them first, if not, check with other local banks for availability.
Need assistance in completing the application and supporting documentation required?
ContactCalifornia Accounting: Call us at: 916.721.4357 Email us at: Info@CaliforniaAccounting.com Visit our website at: https://CaliforniaAccounting.com/covid-19 Here are some things that will most likely be required when working with any local Small Business Association (SBA) lender:
Start date of the business
Business owner information
Number of employees
Gross annual sales for 2019
2019 quarterly payroll tax reports (Form 941s)
Monthly payroll costs for the past 12 months
Average monthly operating expenses (rent, utilities, mortgage interest)
Total health insurance premiums paid under a group health plan
Retirement plan funding paid by the company owners
2019 Federal Tax Return (2018 is acceptable if 2019 has not been filed)
NOTE: Every local lender has different required documentation for their own underwriting purposes.
California Accounting is keeping up to date with the latest tax laws and the “CARES Act” programs. We will continue to share updates as the situation evolves. Our team of CPAs, accounting and tax professionals are here to help! Reach out today so we can help address the needs of your business.
YOU CAN APPLY through any existing SBA 7(a) lender
or through any federally insured depository institution.
Here are some banking solutions and their application links:
Additional Resource Links:
Paycheck Protection Program (PPP) - Application Form: Click Here
SBA Economic Injury Disaster Loans (EIDL) and Grant Application: Click Here
Guide to SBA's Economic Injury Disaster Loans: Click Here
“The Small Business Owner’s Guide to the CARES Act" : Click Here
The CARES Act and SBA “Paycheck Protection Program” : Click Here
