Apply for PPP-2 through

Lendistry

We are accepting applications in all 50 states. 

Paycheck Protection Program (PPP) First and Second Draw Required Documents

First Draw PPP Loan

Eligible Businesses

  • “Small business concern” under applicable revenue-based standards under 13 C.F.R. 121.201 or SBA alternative size standard
  • Independent contractors, self-employed individuals, or sole proprietors that filed or will file a Form 1040 Schedule C for 2019 
  • Business concern, 501(c)(3), 501(c)(19), and Tribal business concerns
  • Housing cooperatives, 501(c)(6) or eligible destination marketing organizations with (together with affiliates) no more than 300 employees
  • Certain news organizations with no more than 500 employees per location
  • Electric cooperatives and telephone cooperatives exempt from taxation under 501(c)(12)
  • Business must have been in operation on February 15, 2020
  • Except with certain exceptions (including as stated above) must have (together with affiliates) 500 or fewer employees

Ineligible Businesses

  • Business permanently closed
  • Business not in operation on February 15, 2020
  • Business is currently in bankruptcy
  • Business or owner received or will receive a Shuttered Venue Operators Grant under Section 324 of Economic Aid Act (More information HERE)
  • Business engaged in any illegal activity under Federal, state or local law
  • Business with a controlling interest held by the President, Vice President, head of an Executive Department, or Member of Congress, or the spouse of any such person
  • Business is issuer of publicly traded securities
  • Owner of 20% or more of equity of business is (i) presently incarcerated or, for any felony, presently subject to indictment, criminal information, arraignment, or other means by which formal criminal charges are brought in any jurisdiction; or (ii) has been convicted of, pleaded guilty or nolo contendere to, or commenced any form of parole or probation (including probation before judgment) for, a felony involving fraud, bribery, embezzlement, or false statement in a loan application or application for federal financial assistance within last 5 years or any other felony within the last year
  • Household employers
  • You or any businesses owned or controlled by you or any of your owners is currently delinquent or has defaulted on an SBA or other Federal loan within last 7 years
  • Any other business ineligible for a SBA 7(a) loan under 13 CFR 120.110, other than paragraphs (a), (g), (k), and (n)

Eligible uses for PPP Loan

  • Payroll costs (see Loan Application and Portal Guide for eligible payroll costs)
  • Costs to continue group health care, life, disability, vision or dental benefits during periods of paid sick, medical, or family leave and premiums for the same
  • Mortgage interest payments (but not mortgage prepayments or principal payments)
  • Rent payments
  • Utility payments
  • Interest payments on other debt obligations incurred before February 15, 2020
  • Refinancing an SBA EIDL loan made between January 31, 2020 and April 3, 2020
  • Certain covered operations expenditures (refer to Interim Final Rule for applicable definition)
  • Certain covered property damage costs (refer to Interim Final Rule for applicable definition)
  • Certain covered supplier costs (refer to Interim Final Rule for applicable definition)
  • Certain covered worker protection expenditures (refer to Interim Final Rule for applicable definition)

Please download the appropriate form for PPP first draw.

Second Draw PPP Loan

Eligible Businesses

  • You received a First Draw PPP Loan;
  • You have used or will use full First Draw PPP Loan amount on eligible expenses before Second Draw PPP Loan disbursement date
  • You have 300 or fewer employees unless larger SBA size standards apply based on NAICS code3 (businesses with NAICS code beginning with 72 and certain news or public broadcasting entities may be eligible if no more than 300 employees or higher SBA size standard per location)
  • You experienced a 25% or greater revenue reduction in 2020 relative to 2019 (measuring either annual gross receipts or quarterly gross receipts for the same quarter year-over-year)

Ineligible Businesses

  • Business excluded from eligibility for a First Draw PPP Loan
  • Business engaged in political or lobbying activities, including research organizations and advocacy organizations in areas such as public policy or political strategy or is a think tank
  • Business 20% or more owned by an entity organized under the laws of the People’s Republic of China or the Special Administrative Region of Hong Kong
  • Business in which any board member is a resident of the People’s Republic of China
  • Foreign Agents under section 2 of the Foreign Agents Registration Act of 1938
  • A person or entity that received or will receive a Shuttered Venue Operators Grant (More information HERE)
  • Entities in which the President, Vice President, the head of an Executive Department, or a Member of Congress, or the spouse of such person owns, controls, or holds at least 20% of the outstanding amount of any class of equity
  • Entities that previously received a Second Draw PPP Loan.

Eligible uses for PPP Loan

  • Payroll costs (see Loan Application and Portal Guide for eligible payroll costs)
  • Costs to continue group health care, life, disability, vision or dental benefits during periods of paid sick, medical, or family leave and premiums for the same
  • Mortgage interest payments (but not mortgage prepayments or principal payments)
  • Rent payments
  • Utility payments
  • Interest payments on other debt obligations incurred before February 15, 2020
  • Refinancing an SBA EIDL loan made between January 31, 2020 and April 3, 2020
  • Certain covered operations expenditures (refer to Interim Final Rule for applicable definition)
  • Certain covered property damage costs (refer to Interim Final Rule for applicable definition)
  • Certain covered supplier costs (refer to Interim Final Rule for applicable definition)
  • Certain covered worker protection expenditures (refer to Interim Final Rule for applicable definition)

 

Please download the appropriate form for PPP second draw.

Paycheck Protection Program (PPP) First and Second Draw Required Documents

Sole Proprietorship / Independent Contractor / Self-Employed

Without Employees

Required Documents
  • PPP Borrowers Application (First Draw Loan – Form 2483 or 2483-C ; Second Draw Loan – Form 2483-SD or 2483-SD-C)
  • Photo ID
  • Fictitious Business Name Statement (if applicable)
  • EIDL Note (if applicable)
  • Existing PPP Note (for Second Draw Loans ONLY)
  • IRS Form 1040 Schedule C for 2019 or 2020 (whichever is used to calculate the loan)
    • Schedule F for farmers and ranchers
  • IRS Form 1099-MISC, invoice, bank statement or book of record establishing self-employed status
  • If not included above, 2020 invoice, bank statement or book of record establishing in operation on or around February 15, 2020
  • Docs supporting 25% reduction in revenue (for Second Draw Loans ONLY)
  • 2019 IRS Form 1040 with Schedule C (Schedule F for farmers and ranchers) and FYE 2020 P&L OR 2019 calendar quarter P&L and comparable 2020 quarter P&L

*current Lendistry PPP clients applying for Second Draw Loan only need to provide Form 2483-SD and docs supporting 25% reduction in revenue

Sole Proprietorship / Independent Contractor / Self-Employed

With Employees

Required Documents
  • PPP Borrowers Application “(First Draw Loan – Form 2483 or 2483-C ; Second Draw Loan – Form 2483-SD or 2483-SD-C)
  • Photo ID
  • Fictitious Business Name Statement (if applicable)
  • Existing PPP Note (for Second Draw Loans ONLY)
  • Payroll records for FYE 2019 OR FYE 2020 OR 12-month period prior to when the loan is made
  • Docs to support Health Insurance and Retirement (if applicable)
  • If not included above, payroll statement or similar documentation from payroll period covering February 15, 2020 establishing in operation on or around February 15, 2020
  • Docs supporting 25% reduction in revenue (for Second Draw Loans ONLY)
  • 2019 IRS Form 1040 with Schedule C (Schedule F for farmers and ranchers) and FYE 2020 P&L OR 2019 calendar quarter P&L and comparable 2020 quarter P&L

*current Lendistry PPP clients applying for Second Draw Loan only need to provide Form 2483-SD and docs supporting 25% reduction in revenue

Partnership

Required Documents
  • PPP Borrower Application (First Draw Loan – Form 2483; Second Draw Loan – Form 2483-SD)
  • Photo ID
  • Entity Docs
  • EIDL Note (if applicable)
  • Existing PPP Note (for Second Draw Loans ONLY)
  • Payroll records for FYE 2019 OR FYE 2020 OR 12-month period prior to when the loan is made
  • Payroll summary – detailed by employee (if completed by recognizable third-party payroll processor minimal review is necessary –payroll validator)
  • Docs to support Health Insurance and Retirement (if applicable)
  • If not included in above, payroll statement or similar documentation from pay period covering February 15, 2020 establishing in operation on February 15, 2020 (if employees) or invoice, bank statement or book of record for such period (if no employees)
  • Docs supporting 25% reduction in revenue (for Second Draw Loans ONLY)
    • 2019 IRS Form 1065 and FYE 2020 P&L OR 2019 calendar quarter P&L and comparable 2020 quarter P&L

*current Lendistry PPP clients applying for Second Draw Loan only need to provide Form 2483-SD and docs supporting 25% reduction in revenue

Corporation

Required Documents
  • PPP Borrower Application (First Draw Loan – Form 2483; Second Draw Loan – Form 2483-SD)
  • Photo ID
  • Entity Docs
  • EIDL Note (if applicable)
  • Existing PPP Note (for Second Draw Loans ONLY)
  • Payroll records for FYE 2019 OR FYE 2020 OR 12-month period prior to when the loan is made
  •  Payroll summary – detailed by employee (if completed by recognizable third-party payroll processor minimal review is necessary –payroll validator)
  • Docs to support Health Insurance and Retirement (if applicable)
  • If not included in the above, payroll statement or similar documentation from pay period covering February 15, 2020 establishing in operation on February 15, 2020
  • Docs supporting 25% reduction in revenue (for Second Draw Loans ONLY)
    • 2019 IRS Form 1120 and FYE 2020 P&L OR 2019 calendar quarter P&L and comparable 2020 quarter P&L

*current Lendistry PPP clients applying for Second Draw Loan only need to provide Form 2483-SD and docs supporting 25% reduction in revenue

Eligible Nonprofit Organization

Required Documents
  • PPP Borrower Application (First Draw Loan – Form 2483; Second Draw Loan – Form 2483-SD)
  • Entity Docs (e.g., Articles of Incorporation)
  • Minutes and Borrowing Resolution
  • Photo ID for Signer
  • EIDL Note (if applicable)
  • Existing PPP Note (for Second Draw Loans ONLY)
  • IRS Form 990 (or other tax form containing similar information) for 2019 or 2020 (whichever is used to calculate the loan)
  • Payroll for FYE 2019 OR FYE 2020 OR 12-month period prior to when the loan is made (if available)
  • Docs to support Health Insurance and Retirement (if applicable)
  • If not included in the above, payroll statement or similar documentation from pay period covering February 15, 2020 establishing in operation on February 15, 2020
  • Docs supporting 25% reduction in revenue (for Second Draw Loans ONLY)
    • 2019 IRS Form and FYE 2020 P&L OR 2019 calendar quarter P&L and comparable 2020 quarter P&L

*current Lendistry PPP clients applying for Second Draw Loan only need to provide Form 2483-SD and docs supporting 25% reduction in revenue

Need Help?

Contact Our Call Center: 888.594.7270
Hours: M-F 7:00 AM – 7:00 PM PST

Please review our application guide before applying:

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