At Peoples Bank, our mission is to help our customers and communities be more successful. We are here to help you get through these challenging times.
We have received final guidance from the SBA, and are ready to take applications for the Paycheck Protection Program (PPP). To access the application, and to see eligibility requirements, visit www.sba.gov or www.treasury.gov.
Peoples Bank needs additional information in order to process each application. Please provide your Business Banker with all required information, along with a completed application. We will communicate with you as your application is reviewed and processed.
Information Required To Apply
- Completed, signed, and initialed final SBA Form 2483 Borrower Application (Click to access)
- Certificate of good standing from Secretary of State of state of incorporation
- Supporting documentation for payroll costs including:
- 2019 IRS Forms 940, 941, 944 (all that apply)
- 2019 Schedule C and Form 1099-MISC for sole proprietors, self employed individuals, and independent contractors
- 2019 IRS Form W-3
- Payroll processor records for all employees for 2019, including information documenting employees whose annual salaries exceed $100,000
- If you have an Economic Injury Disaster Loan (EIDL), be prepared to provide supporting documentation (see Question #4 on Borrower Application form)
- Borrower prepared Loan Amount Calculation
- Most recent filed Federal Annual Tax Return
- Any other forms and documents the Bank deems necessary to process your Loan Application. Your Business Banker will contact you if this applies to your application.
Documents Required For Loan Forgiveness
- The SBA will issue additional guidance on loan forgiveness. We will provide updated information as it becomes available. Treasury has advised that, due to likely high subscription, it is anticipated that no more than 25% of the forgiven amount may be for non-payroll costs.