In order to qualify for the Paycheck Protection Program (PPP) SBA loan, you will need to fill out the application.  In addition, you must provide documentation to support your calculation of average monthly payroll to calculate the maximum allowed loan and “prove” to the bank that you were in business as of January 1, 2020.  Here is a list of documents you may need:

  1. Copy of 2019 tax return.  If 2019 tax return isn’t done, then I believe that your 2018 tax return should be sufficient because it also shows your business start date.
  2. Copy of Form W3 and all W2s filed for 2019 to show total wages paid plus amounts paid to individual employees over $100,000, which must be excluded from the average monthly payroll calculation
  3. Copies of all your 2019 Form 941s.  These also show total wages paid as well as the number of employees each quarter, which will be needed for the eventual calculation of potential loan forgiveness.
  4. Wyoming state unemployment and workers compensation tax forms from 2019
  5. If you offer group health insurance through your business, copies of 2019 health insurance premium invoices.  This includes dental and vision coverage.  You will also need to provide how much was withheld from employee pay if any.
  6. If you have a company retirement plan, the retirement benefits paid by your business.  For example, this would be your match for a 401k or your company’s contribution to a qualified profit-sharing plan.  It does not include employee contributions. Some calculations from your TPA should suffice.

If you can’t provide this supporting data, then your lender may be able to exclude these amounts from your calculation of the average monthly payroll.  If you don’t want to go through the hassle of digging up some of these records, it won’t preclude you from applying for the loan but will reduce the “maximum” loan you may otherwise qualify for.  You can still apply for a lesser loan amount.  Click here for a spreadsheet template to calculate the average monthly payroll.

Remember to visit our blog page at for updates.  Additional information is being added daily as guidance is provided by the government. 

As always, call or email us with any questions and please be healthy!!