Required Documents

 

OneUnited Bank

SBA Paycheck Protection Program
Required Documents

 

We are no longer accepting new PPP loan applications

OneUnited Bank is a Preferred SBA 7A lender and offering the Paycheck Protection Program (PPP) to our existing and new customers through online banking. Per the current SBA guidelines, we will require the following documents to process your loan request.

Business Type 1

If your business is any of the following:
Corporation, Professional Corporation, General Partnership, LLC, Nonprofit

All businesses of this type should provide the following

Color copy of government-issued ID (front and back) and a selfie holding your ID.

(This is for security purposes only and will be destroyed once verified)

All businesses of this type should provide the following

Organizational Documents

 

Examples of Organizational Documents include: Articles of Incorporation, Certificate of Existence, Certificate of Organization, State LLC Agreement, Certificate of Formation or Articles of Information

All businesses of this type should provide the following

IRS Forms 941 for 3/31/19, 6/30/19, 9/30/19 and 12/31/19 OR

 

IRS Form 940 for the year ended 12/31/19 OR

 

Payroll Reports:

  • Summary report for the 12 months ending 2019 (gross wages prior to Section 125 or Deductions)
  • Report detailing each employee and their gross pay for the 12 months ending 2019 (totals should agree with summary report)
  • Report detailing vacation, severance pay, group health benefits, retirement benefits, etc.

All businesses of this type should provide the following

IRS Forms W-2, W-3 for 2019

If you have employees outside the US

W-2s for employees living abroad

If you have employees making over $100,000

W-2s for employees making over $100K

If you have received or been approved for an EIDL loan

Your most recent statement from your outstanding Economic Injury Disaster Loan.

Business Type 2

If your business is any of the following:
Sole Proprietorship, Independent Contractor, Self-employed, Single member LLC with employees

All businesses of this type should provide the following

Color copy of government-issued ID (front and back) and a selfie holding your ID.

(This is for security purposes only and will be destroyed once verified)

All businesses of this type should provide the following

2019 1040 Schedule C*

 

*If you have not completed 1040 Schedule C for 2019, fill it out and compute the value of line 31. We cannot accept this form for previous years. If line 31 on the 1040 Schedule C is zero or negative, your business is not eligible for a PPP Loan.

All businesses of this type should provide the following

IRS Form 940 for the year ended 12/31/19

All businesses of this type should provide the following

IRS Forms W-2, W-3 for 2019

All businesses of this type should provide the following

Payroll statement covering 2/15/2020

If you have employees outside the US

W-2s for employees living abroad

If you have employees making over $100,000

W-2s for employees making over $100K

If you have received or been approved for an EIDL loan

Your most recent statement from your outstanding Economic Injury Disaster Loan.

Business Type 3

If your business is any of the following:
Sole Proprietorship, Independent Contractor, Self-employed, Single member LLC with no employees

All businesses of this type should provide the following

Color copy of government-issued ID (front and back) and a selfie holding your ID.

(This is for security purposes only and will be destroyed once verified)

All businesses of this type should provide the following

2019 1040 Schedule C*

 

*If you have not completed 1040 Schedule C for 2019, fill it out and compute the value of line 31. We cannot accept this form for previous years. If line 31 on the 1040 Schedule C is zero or negative, your business is not eligible for a PPP Loan.

All businesses of this type should provide the following

Substantiation of self-employment in 2020:
1099-MISC for Independent Contractors OR
2020 invoice, bank statement or book of record to establish you were operating effective 2/15/2020

If you have received or been approved for an EIDL loan

Your most recent statement from your outstanding Economic Injury Disaster Loan.