SBA Paycheck Protection Program
The CARES Act SBA Paycheck Protection Program
The Senate and House recently passed the CARES Act, and Friday, March 27, 2020, the legislation was signed into law by the President. In the passing of the CARES Act, it set forth that the SBA and the United States Treasury Department must establish procedures and guidelines for the Paycheck Protection Program, which they have provided as of March 31, 2020.
This has been a stressful time for everyone, and it has been especially hard on small businesses. The Gulf Coast Bank SBA team has worked long hours and put our skills and expertise regarding SBA programs to use helping those affected in our community.
So far, we have helped 1,250 businesses secure $130 million in funding, saving approximately 15,000 jobs.
The SBA PPP Loan Program still has funding available. If you are interested in an SBA PPP Loan, email firstname.lastname@example.org or call us at 337-893-7733 and we can discuss your options.
The following information is needed to apply for a SBA PPP Loan:
- Paycheck Protection Program Application
- Articles of Incorporation/Organization
- Bylaws/Operating Agreement
- 2019 IRS Form 940 and 941, W2 and W3
- 2020 IRS Form 941 for Q1
- 12 months payroll summary
- 2019 Form 1040 Schedule C for self-employed applicants
- NAICS Code (This is located on your Tax Return)
- Louisiana Unemployment Tax Return 2019 (SUTA Tax Return)
- Zip Code with the 4 digit extension
- Two (2) forms of identification for all owners (copy of Driver’s License as well as: Social Security Card, Insurance Card, or Credit Card, etc., that matches your name on your Driver’s License)
Gulf Coast Bank has been funding SBA loans for over forty years and is a Preferred SBA Lender. We look forward to working with you.