Paycheck Protection Program
CARES Act Emergency Funding –
Apply by June 30th to Qualify
for Loan Forgiveness
If your business has been harmed by the global
Coronavirus pandemic, you can get financial assistance.
MyTaxFiler is offering support for businesses that need it.
Apply now for a loan under the CARES Act
Paycheck Protection Program.
DISASTER LOANS INFO
The United States Congress recently passed the 2020 CARES Act which will make up to $350 billion in loans available to small businesses impacted by Coronavirus.
Loan forgiveness for these loans is available for businesses that meet the requirements of the Paycheck Protection Program and maintain or restore their payroll volumes to pre-crisis levels.
These loans are meant for businesses trying to maintain payroll levels. Companies can receive up to 2.5x their average monthly payroll amount.
For those who qualify, loans can range up to $10 million and must be submitted by June 30th.
BE PREPARED TO APPLY
Loans under the Paycheck Protection Program have unique documentation requirements that business owners must meet. Please be prepared to provide the following before you apply.
• IRS Form 940
• IRS Form 941 (payroll)
• Business Tax Returns
• Payroll Summary Report
• Entity Formation Documents
Disclaimer: This is not the complete list. You may be required to furnish additional documents.
The Paycheck Protection Program Loan Process
Step 1: Fill out the application form
Step 2: Upload the required documentation
Step 3: Lender verifies information
Step 4: The SBA accepts your application
Step 5: Get funds in your account
Step 6: Loan forgiveness eligibility verified
Disclaimer: Please note that loans under the Paycheck Protection Program are not guaranteed and are issued at the sole discretion of the lender in conjunction with SBA or other governmental agency guidelines. Any loan issued is governed by definitive documentation of the lender. MyTaxFiler is not a lender.