Applications for PPP loan forgiveness at Bank of America must be submitted digitally through our online PPP loan forgiveness application portal.

How do I provide payroll documents for PPP?

All businesses of this type should provide the following

1. Color copy of government issued ID (front and back)
2. 2019 1040 Schedule C**
3. 2019 IRS Form W-3.
4. 2019 IRS Form 940.
5. W2s for any employees earning more than $100,000.
6. Payroll statement covering 2/15/2020.

How do I document my PPP loan?

Keep copies of every expense you use your PPP loan to cover, no matter how small. This includes payroll records; copies of mortgage interest, rent, and utility payments; receipts for any other expenses you use the PPP loan for; bank account statements; and journal entries.

What documents are required for PPP loan forgiveness?

How to Get Your PPP Loan Forgiven

• Name of your business: business legal name, DBA, trade name (if applicable)
• Business Tax Identification Number (TIN): Social Security number (SSN) or Employer Identification Number (EIN)
• SBA loan number.
• Your PPP loan amount.
• EIDL advance amount (if you got one)

How does the Paycheck Protection Program ( PPP ) work?

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and

Where can I apply for the payroll protection program?

You can apply for the Paycheck Protection Program at any lending institution that is approved to participate in the program through the existing U.S. Small Business Administration lending program and additional lenders approved by the Department of Treasury.

Who is eligible for the Paycheck Protection Program?

The Paycheck Protection Program provides 100% federally guaranteed loans to small businesses. Who is eligible for the loan? A small business with fewer than 500 employees An individual who operates as a sole proprietor An individual who operates as an independent contractor

What are the supporting documents for PPP loan forgiveness?

In an effort to make the PPP Loan Forgiveness process as smooth as possible, we have compiled a list of the various supporting documents that may apply to your forgiveness application.