The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides for several programs and initiatives designed to help with economic stabilization during this unprecedented time. Among the programs intended to assist small businesses is the Small Business Administration’s Paycheck Protection Program (PPP).
The PPP authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. Lenders were able to begin processing loan applications as of April 3, 2020, and the program will be available through June 30, 2020. That said, there is a cap on funds available, so you may want to submit your application as soon as possible.
Depending on the lender being used, you or your client may be asked to provide a variety of documentation regarding your business entity. From what we’ve seen, that documentation may include the following items:
– Good standing certificate
– Articles of Incorporation or Articles of Organization
If you find you need a good standing or a certified copy of your formation documents as part of the loan application to your lender, we’re here to help!
Email us at firstname.lastname@example.org for help.
Please note: We aren’t involved with the loan process, so we can’t offer information or advice, but hopefully this link to the SBA’s COVID-19 small business guidance loan resoureces will help: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources.