In order to streamline the Paycheck Protection Program (PPP) Forgiveness Application and make it as efficient as possible, we have provided some "best practices" below. Please read through these prior to submitting your forgiveness application. Only complete applications will be forwarded on to the SBA for consideration of forgiveness.
Please see the list below of documents which will be helpful for your application process. If you're ready to proceed, please utilize the button below for our Forgiveness Portal.
1st Draw PPP Loan Forgiveness Portal
Cash Payroll Compensation
Documents used to verify eligible cash payroll payments from the covered period or the alternative payroll covered period consist of the following:
- Third-party payroll report, or
- Form 941 reported or that will be reported, or
- Internal payroll report of bank statement
Non-Cash Payroll Compensation
Documents used to verify eligible non-cash payroll payments from the covered period or alternative payroll covered period consist of the following:
- Unemployment insurance tax filings reported or that will be reported,
- Account statements, and
- Payment receipts or cancelled check
Owner Compensation
Documents verifying the eligible cash compensation to an owner-employee, a self-employed individual, or general partner from the covered period or alternative payroll covered period consist of the following:
- 2019 Tax Form 1040 Schedule C,
- 2019 Tax Form 1040 Schedule F, and
- 2019 Tax Form 1065 Schedule K1
If payments were made to more than one owner-employee/general partner, you must also provide a table with the name and amount paid to each.
Business Mortgage Interest Payments
Documentation verifying the existence of the mortgage prior to 2/15/2020, eligible payments, paid or incurred, from your covered period and one month after your covered period ends consist of the following:
- Lender account statements showing the amount owed and paid, or
- Account statements showing the amount owed AND payment receipts or cancelled checks, or
- Copy of entire rent or lease agreements AND payment receipts or cancelled checks
Business Rent or Lease Payments
Documentation verifying the existence of the rent or lease prior to 2/15/2020, eligible payments, paid or incurred, during your covered period and one month after your covered period ends consist of the following:
- Account statements or invoices showing the amount owed and paid, or
- Account statements showing the amount owed AND payment receipts or cancelled checks, or
- Copy of entire rent or lease agreements AND payment receipts or cancelled checks.
Business Utility Payments
Documentation verifying the existence of the utility prior to 2/15/2020, eligible payments, paid or incurred, during your covered period and one month after your covered period ends consist of the following:
- Account statements or invoices showing the amount owed and paid, or
- Account statements showing the amount owed AND payment receipts or cancelled checks, or
- Invoices showing the amount owed AND payment receipts or cancelled checks
Thank you,
Lakeside Bank