We are attempting to stay on top of the details we hear about as our Pet Boss Club Members and community share what they are hearing from their banks and what we've been able to compile after speaking with our team of experts. Please note, this information is just for reference purpose and to help you gather what you need but not to be taken as exactly what you need. Your individual lender will tell you their requirements to apply fully for the Payroll Protection Program (PPP). Here's what we've found out so far...

Forecasted monthly expenses for the next 2 months for the following:

• Number of Employee Count
  
  
• Payroll costs (as noted above) including benefits
  
  
• Payments of interest on any mortgage obligation incurred before February 15, 2020 (which shall not include any prepayment of or payment of principal on a mortgage obligation)
  
  
• Payments of interest on other debt incurred prior to February 15, 2020
  
  
• Rent, under lease agreements in force before February 15, 2020
  
  
• Utilities for which service began before February 15, 2020
  
  

The Paycheck Protection Program evaluates Payroll in the following manner:

Payroll costs consist of compensation to employees (whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips);payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment  for the provision  of employee benefits consisting of group health care coverage, including insurance premiums, and retirement; payment of state and local taxes assessed on compensation of employees; and for an independent contractor or sole proprietor, wage, commissions, income, or net earnings from self-employment or similar compensation.

Complete Business Ownership Schedule (for each owner of the business):

• First Name and Last Name
  
• Ownership%
  
• Social Security Number
  
• EIN#  Address
  
• Citizenship and Ethnicity
  (Hispanic or Latino or Not Hispanic Latino)

If you were in business Before December 31, 2019:

Provide a detailed schedule of your monthly payroll costs for 2019, or other payroll records that support your request, specifically identifying those employees with compensation in excess of $100,000.

For seasonal businesses, the Applicant may elect to instead use average monthly payroll for the time period between March 1, 2019 and June 30, 2019.

If you were NOT in business Before December 31, 2019:

Provide a detailed schedule of your monthly payroll costs between January 1, 2020 and February 29, 2020, or other payroll records that support your request, specifically those employees with compensation in excess of $100,000.

To support these schedules, provide source documents that must include:

• 2019 Payroll Schedule by employee.
  If Seasonal Business, which payroll period choice is being made:
  Full year for 2019 OR Partial year 3/1/2019 - 6/30/2019.
  
  
• 2019 IRS Form 940, 941, or 944 tax filings
  
  
• Most recent tax return filed