Apply for the Paycheck Protection Program

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

  • Businesses must demonstrate they were in operation on 02/15/20
  • Your total 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:

    • 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.

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