Apply for the Paycheck Protection Program

Here's what you'll need to complete your application:

• You must have an M&T business checking account¹ open prior to applying, and demonstrate that your business was in operation on 02/15/20
• 2019 or 2020 payroll amount from last year
• PDF copies of payroll documentation such as:

  For Businesses with Employees (if applicable):

  • 2019 and/or 2020 IRS 940, 941 or 944 payroll tax reports
  • Payroll statement or similar documentation to demonstrate operations on 02/15/20
  • For S or C Corps: Equivalent payroll processor records or IRS Wage and Tax Statements, along with the filed business tax return 
  • Summary of payroll expenses for Individual Employees with cash compensation over $100,000
  • K-1 (IRS 1065) for Partnership Self Employed employment income
  • General Ledger Reports or statements to assist with Health Care and Retirement benefits (S or C Corps may use IRS Form 1120 or IRS 1120-S)
  • State Quarterly Wage Reporting Forms
  • Second Draw Applicants: Documentation demonstrating 25% reduction in gross receipts for loans greater than $150,000 is required. If including, but not limited to, tax forms, quarterly income statement, or bank statement. If the loan is $150,000 or less, you have the option to provide at application, however, you must minimally supply by loan forgiveness. 

   

  For Sole Proprietorships and Independent Contractors (if applicable):

  • Form 1040 Schedule C or F for 2019 and/or 2020 (Self-employed individuals with no employees must submit Form 1099-MISC in addition to 1040 Schedule C or F)
  • Payroll tax filings
  • Payroll statement or similar documentation to demonstrate operations on 02/15/20
  • Bank Statements to demonstrate payroll disbursements
  • General Ledger Reports or statements to assist with Health Care and Retirement benefits
  • State Quarterly Wage Reporting Forms
  • Second Draw Applicants: Documentation demonstrating 25% reduction in gross receipts for loans greater than $150,000 is required. If including, but not limited to, tax forms, quarterly income statement, or bank statement. If the loan is $150,000 or less, you have the option to provide at application, however, you must minimally supply by loan forgiveness.

The following documentation is required to open a Business checking account:

• An M&T Business checking account¹ must be opened as of 01/15/21, and 
• Business Taxpayer Identification Number (SSN and/or EIN)
• Business information documents (you will need at least two)
• Identification detail of all owners over 10% 

As part of M&T’s PPP loan application process, you will be required to open a new Business checking account. If you are approved for a PPP loan, the funds will be disbursed into this account.

Please note that opening a Business checking account does not guarantee PPP approval. 

¹ If you are an independent contractor or sole proprietor and your business was operational on February 15, 2020, and you were using a personal M&T checking account to operate your business, you may be eligible. You will be required to open a business checking account prior to receiving any PPP funds.