How to Apply for a PPP Loan
Your Step-by-Step Guide to Applying for a PPP Loan

This step-by-step guide will walk you through our PPP application to ensure you have a completed application—so that it can be submitted, approved, and funded as fast as possible.

Begin application

How to Apply for a PPP Loan
SBA Paycheck Protection Program (PPP) Loans
Begin your PPP loan application through Lendio to be matched with a PPP lender. Lendio is not a lender, and an application submitted through Lendio does not guarantee you will receive a PPP loan or be matched to a lender. We will accept applications throughout the program or until allocated funds for the program have been exhausted.

Before You Begin

Collect the following documents prior to starting the application to ensure the process goes as smoothly as possible. To complete the application, you’ll need:

For all business types:

  • Copy of government-issued ID for all owners with 20%+ share in the business. 

For all business types, you’ll need proof that you were in business on or before Feb. 15, 2020:

  • If you have W2 employees:
    • IRS Form 941 from Q1 2020
    • 3rd Party Payroll Processing Report from Feb. 2020
  • If you do not have W2 employees:
    • Feb. 2020 Bank Statement
    • Customer Invoice from Feb. 2020

For all businesses, you’ll need the applicable tax document that you use to file your taxes:

  • Provide whichever document your business uses when filing taxes:
    • Form 1065
    • Form 1120
    • Form 1120-S
    • Form 1040 with Schedule C
    • Full Business Tax Return (if none of the above are applicable)

For all businesses that have W2 employees, you’ll need documentation to prove your payroll costs:

  • Choose one:
    • W2s and W3 for your employees
    • IRS Form 944
    • IRS Form 941 (all 4 quarters)
    • 3rd-Party Payroll Processing Report

Step 1

Create or Log into your Lendio Account

Fill in your information to create a loan profile with Lendio. If you already have an account, click “Sign in.”

Step 2

Log into your PPP Application

After creating a Lendio account or logging into your current account and getting started with the PPP application, confirm whether you are applying for your first or second PPP loan.

Step 3

Confirm Existing Business Information

  1. Business address: Confirm that the address is accurate, including the 5-digit zip code (it’s important that it’s the 5-digit zip code and not the 9-digit zip code).  
  2. Business Start Date: Enter your business’s start date. The start date should match the date listed on the business’s Secretary of State filing.
  3. Business Type: Verify you’ve selected the right business type. This affects the documents you may be required to provide.
  4. Tax ID: Confirm that you have entered a valid 9-digit tax ID. Double-check for any typos and confirm that the ID number is 9 digits long. For some business types, the owner’s Social Security number will be used for the tax ID. Others will require the Federal Tax ID, also known as the EIN.
  5. Employee count: Verify employee count is between 1 and 500. Sole proprietors and 1099 workers should enter 1 (0 is not a valid entry).
  6. Average Monthly Payroll: Affects your max loan amount and can be based on 2019 or 2020. Associated tax documents required to prove payroll.
  7. Loan amount requested: The requested amount should be 2.5 times your average monthly payroll costs (plus any Economic Injury Disaster Loan funds received, if applicable). It should not be $0. It should not be hundreds of millions of dollars. For help, you can use our PPP loan calculator
  8. After clicking “Next,” answer 8 general questions related to your business. (Second Draw applicants will need to enter gross receipts and expenses for 2019 & 2020 before answering. If you are a First Draw applicant, skip to Step 5.)

Step 4

Revenue Reduction (Second Draw only)

For Second Draw eligibility, you must be able to demonstrate at least a 25% revenue reduction.

  1. Enter your Gross Receipts for each quarter of 2019 and 2020.
  2. Enter your Expenses for each quarter of 2019 and 2020.
  3. Verify the information is correct and click “Next.” A financial statement that fulfills the SBA’s requirement of proof will be included with your application.

After selecting ‘Next,’ confirm whether ownership has changed.

Step 5

Confirm Ownership

On the first “Owner Information” page, confirm whether or not anyone owns a 20%  or larger stake in the business.

If so, please enter the owner % that you (the applicant) own and add any additional owners with 20% ownership using the link near the bottom of the page.

If no one owns a 20% stake in the business, please indicate and confirm that you are authorized to fill out the PPP application on behalf of the business you are applying for. The ownership percentage must be greater than 0

Step 6

Confirm Identification Documents

On the “Upload Identification & Voided Check” page, you should upload and review all necessary identification documents. Confirm that everything previously uploaded is correct and add any documents you’re missing to ensure a completed PPP application. 

If you don’t have the following attachments added to your application, please upload them:

  1. Driver’s License for all owners with 20%+ share in the business: A full color copy of the front and back of a valid Driver’s License for each owner. Make sure to double-check that the Driver’s License is not expired.
  2. Other government-issued identification

Step 7

Confirm Payroll Documents

Upload all eligible documents that provide proof of your average monthly payroll. If you do not have W2 employees, this section is not required.

Required for certain business types:

  1. IRS Form 941 (all 4 quarters)
  2. IRS Form 944 & written permission from the IRS
  3. Form W-2 for all employees and Form W-3
  4. 3rd-Party Payroll Processor Report

Click ‘Next’ and upload the tax document that aligns with how you file taxes:

  • Partnership:
    • Form 1065
    • Schedule K-1s for each partner
  • S-Corporation:
    • Form 1120-S
  • Sole Proprietorship:
    • Form 1040 (Must include Schedule C)
  • C-Corporation:
    • Form 1120
  • LLC Multi-Member With Employees, Single Member, Single Member With Employees:
    • Form W-2 and Form W-3
    • IRS Form 944
    • IRS Form 941 (all quarters)
    • 3rd-Party Payroll Processing Report
  • LLC Single Member & Multi-Member Without Employees:
    • None
  • All Others With or Without Employees:
    • Full Tax Return

Step 8

Confirm Tax Documents

Upload the tax document that aligns with how you file taxes:

  • Partnership:
    • Form 1065
    • Schedule K-1s for each partner
  • S-Corporation:
    • Form 1120-S
  • Sole Proprietorship:
    • Form 1040 (Must include Schedule C)
  • C-Corporation:
    • Form 1120
  • LLC Multi-Member With Employees, Single Member, Single Member With Employees:
    • Form W-2 and Form W-3
    • IRS Form 944
    • IRS Form 941 (all quarters)
    • 3rd-Party Payroll Processing Report
  • LLC Single Member & Multi-Member Without Employees:
    • None
  • All Others With or Without Employees:
    • Full Tax Return

Step 9

Additional Documents

Upload the following documents depending on your business type:

  • IRS Form 941 from Q1 2020
  • 3rd-Party Payroll Processing Report from February 2020
  • February 2020 Bank Statement (2019 if payroll calculation is from 2019)
  • Customer Invoice from February 2020 (2019 if payroll calculation is from 2019)
  • IRS Form 1099-MISC from 2020 (2019 if payroll calculation is from 2019)
  • IRS Form 1099-K from 2020 (2019 if payroll calculation is from 2019)

Step 10

Demographic Information (Optional)

Enter demographic information. Disclosure is voluntary and will have no bearing on the loan application decision. 

Data is collected for program reporting purposes only.

Step 11

Confirm E-Sign

It’s almost time to sign on the dotted line. Before you resubmit your PPP application, please:

  1. Confirm that your full legal name is on the application. 
  2. Ensure your Social Security number is entered correctly (9 digits).
  3. Enter the applicant’s date of birth (new field)
  4. Enter Applicant Gender: Select “Male,” “Female,” or “Not Disclosed.” The SBA requires this demographic information to be recorded for its program reporting. 
  5. Certify, sign, and then submit! This is an essential step for any changes to be saved and uploaded. 

Step 12

Congratulations!

You’ve successfully submitted your application and you’re good to go! Curious about the next steps in the process? Check out what happens after you apply.

Apply for your PPP loan.
Begin your PPP loan application through Lendio to be matched with a PPP lender. Lendio is not a lender, and an application submitted through Lendio does not guarantee you will receive a PPP loan or be matched to a lender. We will accept applications throughout the program or until allocated funds for the program have been exhausted.

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