As an employer, you may be considering applying for the Paycheck Protection Program (PPP) from the Department of the Treasury. The intent of the Paycheck Protection Program (PPP) is to provide small businesses with funds to pay up to eight weeks of payroll costs including benefits (funds can also be used to pay interest on mortgage, rent and utilities), for financial assistance during the coronavirus pandemic.
Employers can apply for the program through any SBA 7(a) lender or any federally insured depository institution (banks), federally insured credit union, and participating Farm Credit System institutions.
To assist you in the loan process, we have put together a package of supporting documents that will give you the information needed to complete the application for a nominal fee. The package consists of a Labor Distribution report with monthly totals for the period January 1, 2019 through March 30, 2020 as well as copies of quarterly payrolls returns for all 4 quarters of 2019 and the first quarter of 2020.
Once completed, we will send the package via a secure email back to the person designated in your request.
We understand the gravity of the situation for your business and are processing all requests as quickly as possible. We have put together a special Team of 3 Client and Tax Specialist specifically to fill these requests, allowing us to reply within 24 hours. This may change due to a high volume of requests. We will continue to work diligently to provide these reports to you.
If you are interested in receiving this package, please email your assigned Client Service Representative and they will forward you request to our assigned Team.
Stay safe and thank you for your patience and understanding
Mike Caron, Chief Financial Officer/Director of Human Resources
Ben Getchell, Chief Operations Officer