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This document is a checklist and application form for borrowers seeking loans under the Paycheck Protection Program, outlining the necessary documentation and requirements to apply for financial assistance. It details the eligibility criteria, required payroll documentation, additional documentation based on entity type, and various certifications and authorizations needed from the applicant.
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A paycheck protection program borrower is a small business, nonprofit, or other entity that receives a loan under the Paycheck Protection Program (PPP) designed to help businesses keep their workforce employed during the COVID-19 pandemic.
Borrowers who have received a PPP loan are required to file documentation to apply for loan forgiveness and comply with the program's requirements, including providing information about how the funds were used.
To fill out the paycheck protection program borrower application, you need to provide your business information, average monthly payroll costs, the requested loan amount, and certifications regarding the necessity of the loan and use of funds.
The purpose of the paycheck protection program borrower is to provide financial assistance to small businesses to help them maintain their payroll and cover other essential expenses during economic disruptions caused by the pandemic.
Borrowers must report information related to the number of employees, estimated payroll costs, the amount spent on eligible expenses, and any changes in business activity following the loan.
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