PPP Out of Money, but Be Prepared for Version 2 Just in Case!

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It is completely unofficial, but the PPP program may possibly have another round of funding. If you are a dairy producer needing that payroll assistance for the 8-week period, go ahead pull together the following information that I posted 2 weeks ago so that you are ready if the application process opens again:

  • Date your business started
  • Annual revenue
  • Business mailing address
  • Documentation necessary to establish eligibility, which may include:
    • Payroll report(s) detailing the defined 12 months compensation
    • Quarterly or Annual payroll tax filings
    • Documentation verifying the number of employees on payroll for the defined period
    • Annual filings (W2s and W3, etc.)
    • Severance agreements and payments
    • Payment for health care benefits
    • Payment of any retirement benefit (i.e., employer match for 401k, or SEP IRA, etc.) including statements or contribution reports
    • Form 1099-MISC
    • Income and Expense documentation of a sole proprietor
  • For borrowers that do not have any such documentation, other supporting documentation must be provided, such as bank records, sufficient to demonstrate the qualifying payroll amount