Nicolet Bank is a preferred SBA lender for the Paycheck Protection Program. The loan proceeds are used to cover payroll costs, most mortgage interest, rent, and utility costs.
What You Will Need
Copies of payroll tax reports filed with the IRS (including Forms 941, 940, state income and unemployment tax filing reports) for the entire year of 2019 and first quarter of 2020 (if available) should be presented.
Copies of payroll reports for each pay period for the preceding 12 months. Such reports should include gross wages including PTO (which might include vacation, sick, and other PTO). This includes payroll reports through the pay period preceding the origination of the SBA loan.
Documentation reflecting the health insurance premiums paid by the company under a group health plan including owners of the company for the immediately preceding 12 months prior to the date of the SBA loan origination. Copies of the monthly invoices should suffice.
Documentation of all retirement plan funding by the employer for the immediately preceeding 12 months. Copies of workpapers, schedules and remittances to the retirement plan administrator should be sufficient.