Paycheck Protection Program
On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was approved and signed into law. The CARES Act has several key provisions that include the Paycheck Protection Program (PPP), stimulus payments and many more. The Paycheck Protection Program was created to help bridge payroll expenses through June 30, 2020.
With the additional Paycheck Protection Program funding that Congress has approved, United Business Bank will continue to accept applications for small business clients located within California, Colorado, New Mexico, or Washington. Although we continue to process applications, we cannot guarantee that all will be processed by the SBA before the most recent funding is committed. We appreciate your patience during this time.
For instructions on how to apply, please contact Eric Coler-Dark, our VP/Business Development Officer, at [email protected].
What can you do to prepare for the Paycheck Protection Program? Borrowers will be required to submit the following information outlined below.
Paycheck Protection Program Application Basics:
- SBA Paycheck Protection Program Application
- SBA Paycheck Protection Program Questionnaire
- SBA UBB Application
- Business Debt Schedule
- Personal Financial Statement
- SBA Paycheck Protection Program Application Checklist
- Required Payroll Documentation:
- Form 941/944 with IRS
- Evidence of State/Local taxes for wages
- Payroll processor records
- W-2's and/or Form 1099 as applicable
- P/L or Tax Return for Sole Proprietor/Independent Contractor
Subject to credit approval.