Created with Sketch. The deadline to apply for a Paycheck Protection Program loan is June 30, 2020. We are no longer accepting PPP loan applications. The deadline to apply for a Paycheck Protection Program loan is June 30, 2020. We are no longer accepting PPP loan applications.

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Stay informed about the Paycheck Protection Program

QuickBooks created an easy way to apply for a Paycheck Protection Program (PPP) loan. The program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which allotted approximately $659 billion in forgivable loans to help cover eligible small business expenses.

QuickBooks support with the Paycheck Protection Program

The path to U.S. federal funding begins with QuickBooks

If you’re a Payroll customer, sign in to see if you’re eligible to apply for a PPP loan application.

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How it works

Relief programs are evolving regularly. For the most up-to-date information, visit SBA.gov.

Prepare for Paycheck Protection Program loan forgiveness

Who qualifies for a Paycheck Protection Program loan?

  • 500 employees or fewer
    Small businesses, 501 (c)(3) nonprofits, and 501(c)(19) veterans’ organizations with 500 employees or fewer. So do Tribal businesses (sec. 31(b)(2)(C) of Small Business Act).
  • Affected by the coronavirus
    Businesses that were open on or before February 15, 2020, and have been negatively affected by the coronavirus.
  • Multiple locations
    If you’re in food service or hospitality and have fewer than 500 employees at each location, each location may be eligible for a Paycheck Protection Program loan.
  • Self-employed individuals
    This includes sole proprietors, independent contractors, and gig workers who were (1) operational on or before Feb. 15, 2020, (2) were an individual with self-employment income, (3) have a principal residence in the U.S., and (4) filed or will file a Form 1040 Schedule C for 2019.

How to prepare for loan applications

You’ll need to gather the following information before you apply for a PPP loan.

  • Articles of incorporation for each borrowing entity and by-laws or operating agreement for each borrowing entity
  • A list of owners who hold at least a 20% stake in your company and copies of their drivers licenses
  • Payroll expense verification documents
  • Payroll summary report with corresponding bank statements
  • Breakdown of payroll benefits (vacation, allowance for dismissal, group healthcare benefits, retirement benefits, etc.)
  • IRS forms 940 and 941
  • Form 1099-MISC if you’re an independent contractor
  • Certification that all employees live within the U.S. and a list of employees who do not live in the U.S. and their salaries
  • Trailing 12-month profit and loss statements (as of the date of application) for all applicants
  • Most recent mortgage or rent statements and utility bills

To apply with a lender other than QuickBooks Capital, you may need 3 things:

  • Your Form 1040 2019 Schedule C. (It’s OK if you haven’t filed it yet.)
  • Documentation that proves you are self-employed, like a 2019 1099-MISC, invoice, bank statement, or book of record
  • Documentation that proves you were in operation on Feb. 15, 2020 (like an invoice, bank statement, or book of record)

If you filed your 2019 taxes with TurboTax Self-Employed and are a QuickBooks Self-Employed customer:

  • You can start your application for a Paycheck Protection Program loan within QuickBooks Capital. We’ll help you import your TurboTax info to verify your eligibility and requested loan amount.

Related articles and resources

Ask your QuickBooks Community

Get answers to your PPP questions, find tips from experts, and learn more about how you can apply for the program’s loan within QuickBooks Capital.

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Intuit Aid Assist—see if you’re eligible for small business relief programs

Note: The PPP ends on June 30, and QuickBooks Capital does not guarantee that your loan application will be reviewed, processed, presented for SBA approval, or receive SBA approval before the PPP ends.

Frequently asked questions

Check out additional frequently asked questions to learn more about the Paycheck Protection Program.