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What is required to apply for a PPP loan with Biz2Credit?

Get started with a PPP Loan Application by providing basic business information and using the Biz2Credit online platform to complete your application. Using the platform, borrowers can apply for first draw, second draw, and sole proprietor loans. SBA Forms 2483, 2483-SD and 2483-C  

Required documentation can vary based on PPP loan type, SBA requirements and borrower preference. Here are the basic documents everyone should keep in mind. 

First Draw

Sole Proprietors and Independant Contractors

  • 2019 IRS Form 1040 Schedule C1 ​
  • 2020 invoice, bank statement or book of record showing business was operating as of 2/15/2020​
  • Driver's License(s) or other Real ID document (front and back)

Sole Proprietors with Employees

  • 2019 IRS Form 1040 Schedule C ​
  • 2020 IRS Form 941* for Quarter 1 OR Payroll statement covering 2/15/2020 ​
  • 2019 IRS Form 940* ​
  • Driver's License(s) or other Real ID document(front and back)

LLC (no employees)

  • 2019 IRS Form 1040 Schedule C / 1065 / 1120(S)​
  • 2020 invoice, bank statement or book of record showing business was operating as of 2/15/2020​
  • Driver's License(s) or other Real ID document (front and back)

LLC (with employees), C-Copr, S-Corp, All Non-Partnerships

  • 2019 IRS Form 940* ​
  • IRS Form 941* (quarterly payroll tax form) - Latest Quarter​
  • 2019 business tax returns – only for loans above $150k​
  • Driver's License(s) or other Real ID document (front and back)​

Non-Profit

  • 2019 IRS Form 990*​
  • IRS Form 941 (quarterly payroll tax form) - Q1 2020​
  • Proof for business activity - Latest Bank statements​
  • Driver's License(s) or other Real ID document (front and back)

Farmers and Ranchers

  • 2019 IRS Form 1040 Schedule F​
  • IRS Form 940 and IRS Form 943​ (if applicable/have employees)
  • Proof for business activity - 2020 Q1​
  • Driver's License(s) or other Real ID document (front and back)​

Second Draw 

Annual Reduction:​

  • Annual IRS Income Tax Filings (required for annual reduction)​

Quarterly Reduction:​

  • Quarterly Financial Statements ​
  • Quarterly or Monthly Bank Statements ​
  • Accounting Software Summary Report​
  • Credit Card Receipts​
  • Sales Receipts