Based on the PPP Loan Requirements if any of the following apply, please save time and money by not applying or submitting your application via our firm's Online Application process. If you are submitting your application via our online application, you must understand our firm will charge you a $250 one-time fee to prepare your PPP Loan Application. OUR FEE IS NOT CONTINGENT ON WHETHER OR NOT YOUR PPP LOAN IS APPROVED AND IS DUE AT THE TIME OF YOUR APPLICATION SUBMISSION. EACH APPLICANT IS RESPONSIBLE FOR ENSURING THEY QUALIFY PRIOR TO SUBMITTING AN ONLINE APPLICATION.
1. The Applicant or any owner of the Applicant is presently suspended, debarred, proposed for debarment, declared ineligible, voluntarily excluded from participation in this transaction by any Federal department or agency, or presently involved in any bankruptcy?
2. The Applicant, any owner of the Applicant, or any business owned or controlled by any of them, ever obtained a direct or guaranteed loan from SBA or any other Federal agency that is
(a) currently delinquent, or
(b) has defaulted in the last 7 years and caused a loss to the government?
3. The Applicant (if an individual) or any individual owning 20% or more of the equity of the Applicant presently incarcerated or, for any felony, presently subject to an indictment, criminal information, arraignment, or other means by which formal criminal charges are brought in any jurisdiction?
4. Within the last 5 years, for any felony involving fraud, bribery, embezzlement, or a false statement in a loan application or an application for federal financial assistance, or within the last year, for any other felony.
5. The Applicant (if an individual) or any owner of the Applicant
(a) been convicted;
(b) pleaded guilty;
(c) pleaded nolo contendere
(d) commenced any form of parole or probation (including probation before judgment)
1. The Applicant was in operation on February 15, 2020, has not permanently closed, and was either an eligible self-employed individual, independent contractor, or sole proprietorship with no employees, or had employees for whom it paid salaries and payroll taxes or paid independent contractors, as reported on Form(s) 1099-MISC.
2. Current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.
3. The funds will be used to retain workers and maintain payroll; or make payments for mortgage interest, rent, utilities, covered operations expenditures, covered property damage costs, covered supplier costs, and covered worker protection expenditures as specified under the Paycheck Protection Program Rules; I understand that if the funds are knowingly used for unauthorized purposes, the federal government may hold me legally liable, such as for charges of fraud.
4. I understand that loan forgiveness will be provided for the sum of documented payroll costs, covered mortgage interest payments, covered rent payments, covered utilities, covered operations expenditures, covered property damage costs, covered supplier costs, and covered worker protection expenditures, and not more than 40% of the forgiven amount may be for non-payroll costs. If required, the Applicant will provide to the Lender and/or SBA documentation verifying the number of full-time equivalent employees on the Applicant’s payroll as well as the dollar amounts of eligible expenses for the covered period following this loan.
5. The Applicant has not and will not receive another loan under the Paycheck Protection Program, section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) (this does not include Paycheck Protection Program second draw loans, section 7(a)(37) of the Small Business Act (15 U.S.C. 636(a)(37)).
6. The Applicant has not and will not receive a Shuttered Venue Operator grant from SBA.
7. The President, the Vice President, the head of an Executive department, or a Member of Congress, or the spouse of such person as determined under applicable common law, does not directly or indirectly hold a controlling interest in the Applicant, with such terms having the meanings provided in Section 322 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act.
8. The Applicant is not an issuer, the securities of which are listed on an exchange registered as a national securities exchange under section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f).
9. I further certify that the information provided in this application and the information provided in all supporting documents and forms is true and accurate in all material respects. I understand that knowingly making a false statement to obtain a guaranteed loan from SBA is punishable under the law, including under 18 U.S.C. 1001 and 3571 by imprisonment of not more than five years and/or a fine of up to $250,000; under 15 U.S.C. 645 by imprisonment of not more than two years and/or a fine of not more than $5,000; and, if submitted to a federally insured institution, under 18 U.S.C. 1014 by imprisonment of not more than thirty years and/or a fine of not more than $1,000,000.
10. I acknowledge that the Lender will confirm the eligible loan amount using the required documents submitted. I understand, acknowledge, and agree that the Lender can share any tax information that I have provided with SBA’s authorized representatives, including authorized representatives
Overview-of-First-Draw-PPP - If you have not received any previous PPP Loan money then this information sheet applies to you.
Overview-of-Second-Draw-PPP - If you received any previous PPP Loan money then this information applies to you.
AICPA-SBA-Letter- Why is my PPL Loan delayed?
Paycheck-Protection-Program-Frequently-Asked-Questions - If you still have questions about the PPP loan, then you can check out the FAQ or call our office at 540-693-5881.
PPP-Forgiveness-Factsheet-508- The PPP Loan is a forgivable loan if you qualify for loan forgiveness. Check out this information sheet for more information about the loan forgiveness process.