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Submission checklistto be used with PPP Second Draw Borrower ApplicationSBA Form 2483-SDCHECKLIST ONLY - Not an ApplicationBorrower Name: ____________________________ Date: _________________PPP Loan Number: __________________________ First PPP Bank: Review application for completenessOriginal signature and initials on application – no electronic signaturesCheck each fieldFull legal business nameEligibilityPreviously received a First Draw PPP loanHave used, or will use, the full amount of First Draw on eligible expenses on or before disbursement of Second Draw PPP LoanEmployees – not more 300 unlessNAICS 72 or eligible news organizations, applicants may not exceed 300 per physical locationReduction in Revenue:Reduction of at least 25% of gross receipts in any quarter of 2020 when compared with the same quarter in 2019.Not in business during the Q1 or Q2 of 2019, gross receipts during Q1, Q2, Q3 or Q4 of 2020 reduction of at least 25% in gross receipts from Q3 or Q4 of 2019.Not in business during the Q1, Q2, or Q4 of 2019, gross receipts during Q1, Q2, Q3 or Q4 of 2020 reduction of at least 25% in gross receipts from Q3 or Q4 of 2019.Not in business in 2019, but in operation on 2/25/2020, gross receipts during Q2, Q3 or Q4 of 2020 show reduction of at least 25% from Q1 2020.Reduction of at least 25% in annual receipts in 2020 compared to 2019 (must submit copies of annual tax forms)Business is not eligible if any of the following apply:Not eligible for First Draw PPP loan,Primarily engaged in political activities or lobbying,Created or organized under the laws of the China or Hong Kong or has significant operations in China or Hong Kong,That retains, a board of director that is a resident of China,Required to register under section 2 of the Foreign Agents Registration Act of 1938,Receives a grant for shuttered venue operators,Any entity in the President, Vice President, the head of an Executive department, or a member of Congress, or the spouse of such person, directly or indirectly holds a controlling interest.Any issuer, the securities of which are listed on an exchange registered as a national securities exchange,Previously received a Second Draw PPP Loan,An entity that has permanently closed.Loan Amount CalculationAverage monthly payroll x 2.5 or 3.5 for NAICS 72 applicants, not to exceed $2.000,000Standard CalculationAverage Monthly Payroll for 2019 or 2020, excluding costs over $100,000 on an annualized basis for each employeeSeasonal Employers:Average monthly payroll for any 12-week period between Feb 15, 2019 and Feb 15, 2020, excluding costs over $100,000 on an annualized basis for each employeeNew businesses without 12 months payroll but were in operation on Feb 15, 2020:Average Monthly Payroll calculated based on number of months in which payroll costs were incurred, excluding costs over $100,000 on an annualized basis for each employeeSchedule F – sole proprietorship, independent contractor, or eligible self-employed without employees:Eligible payroll costs for employees, if any, plus the lesser of $100,000 and the difference between gross income and and any eligible payroll costs for employees.Partnerships:Payroll costs are computed using net earnings from self-employment of individual general partners as reported on IRS Form 1065 K-1, reduced by Section 179 expense deduction claimed, unreimbursed partnership expenses claimed, and depletion claimed on oil and gas properties, multiplied by 0.9235, that is not more than $100,000, plus any eligible payroll costs for employees.Documentation RequiredProof of Payroll Costs – Forms 941 and state quarterly wage reports from each quarter of 2019 or 2020, or equivalent payroll processor records, along with evidence of retirement and employee group health, life, disability, vision and dental contributions. Partnerships must also provide Form 1065 K-1s.Self-employed – 2019 or 2020 Form 1040 Schedule C, Forms 941 and state quarterly wage reports from each quarter of 2019 or 2020, or equivalent payroll processor records, along with evidence of retirement and employee group health, life, disability, vision and dental contributions.Loan greater than $150,000 –at the time of application, documentation sufficient to establish reduction in revenue. May include relevant tax forms, including annual tax forms, or quarterly income statements or bank statements.Loans less than $150,000 - at the time of application, on or before application for forgiveness, or at SBA’s request, documentation sufficient to establish reduction in revenue. May include relevant tax forms, including annual tax forms, or quarterly income statements or bank B PPP CIP & Beneficial Ownership Certification FormCCB Hold Harmless Agreement if loan amount over $500,000Business Entity Documentation, if new to CCB. Articles of incorporation, bylaws, operating agreement, authorized signers for non-profit, etc.Where to Fund the Loan (Bank Account #, Wire instructions, etc.): ................
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