Existing Customers
This documentation applies to existing Sunrise Banks customers applying for the Paycheck Protection Program.
Corporate Tax Returns
- Front page of most recent
Payroll Documentation
Not applicable if 2019 was selected to calculate loan amount for 1st or 2nd draws for PPP.
For Entities with Employees using 2020 for loan calculation:
- Federal Form 941 and quarterly state unemployment filings OR other tax forms or equivalent payroll processing records containing similar information
- Evidence of any employer paid benefits (retirement, health, life, disability, vision, and dental) if applicable
Plus for General Partners: IRS form 1065 K1
For PPP-2 Applicants with loans over $150,000: Annual tax forms or if not available, quarterly financial statements OR bank statements that show a 25% decline in revenue (for loans under $150,000 the documentation must be provided for forgiveness or for the SBA at any time).
A payroll statement or similar documentation from the pay period covering 2/15/20 to establish that the business was in operation on 2/15/20 OR for applicants that file taxes using IRS Form 1040 Schedule C: IRS Form 1099 MISC documenting nonemployee compensation received (Box 7), 2020 Invoice, bank statement, OR book of record.
Look for your business category below for defined documentation requirements.
Corporation
- Articles of Incorporation (must contain date stamp from Secretary of State)
- Bylaws (if applicable)
General, Limited or Limited Liability Partnerships
- Copy of Limited Partnership Agreement
- Names and street addresses of all partners
- Addresses of all partnership’s place(s) of business
Non-Profit Corporation
- Executed Board Resolution defining who has authority to enter into a borrowing agreement with the bank
Member-managed LLC
- Articles of Organization (must contain date stamp from Secretary of State)
- LLC Operating Agreement
Board-managed LLC
- Articles of Organization (must contain date stamp from Secretary of State)
- LLC Operating Agreement
- Board Resolution authorizing the proposed borrowing, and authorizing board governors to sign loan documents on behalf of the LLC
Non-Profit LLC
- Board Resolution authorizing the proposed borrowing, and authorizing board governors to sign loan documents on behalf of the LLC
All entities (other than publicly traded companies)
- Beneficial Ownership Form:
- Name, address, DOB, and SSN for all natural persons who own 20% or more of the business (non-profits can select “Not Applicable” for ownership)
- Name, address, DOB, and SSN for one person who has significant responsibility to control, manage, or direct the business. Can be someone who is also listed as an owner. Also applies to Non-Profits.
- Copy of Driver’s License for new owners or controller
New Customers
This documentation applies to new Sunrise Banks customers applying for the Paycheck Protection Program.
Confirmation of EIN and NAICS Code
- Front page of the most recent Tax Return
Copy of Driver’s License
- for all proprietors, partners, officers, directors, and stockholders with 20% or more ownership in the new/existing Applicant Business Entity
Payroll Documentation
For Entities with Employees for 2019 or 2020 (depending on period selected for loan calculation):
- Federal Form 941 and quarterly state unemployment filings OR other tax forms or equivalent payroll processing records containing similar information
- Evidence of any employer paid benefits (retirement, health, life, disability, vision, and dental) if applicable
- 2019 IRS Form 1040 Schedule C if applicable
Plus for General Partners: IRS form 1065 K1
For PPP-2 Applicants with loans over $150,000: Annual tax forms or if not available, quarterly financial statements OR bank statements that show a 25% decline in revenue (for loans under $150,000 the documentation must be provided for forgiveness or for the SBA at any time).
A payroll statement or similar documentation from the pay period covering 2/15/20 to establish that the business was in operation on 2/15/20 OR for applicants that file taxes using IRS Form 1040 Schedule C: IRS Form 1099 MISC documenting nonemployee compensation received (Box 7), 2020 Invoice, bank statement, OR book of record.
Look for your business category below for defined documentation requirements.
Corporation
- Articles of Incorporation (must contain date stamp from Secretary of State)
- Bylaws (if applicable)
General, Limited or Limited Liability Partnerships
- Copy of Limited Liability Partnership Agreement
- Names and street addresses of all partners
- Addresses of all partnership’s place(s) of business
Non-Profit Corporation
- Executed Board Resolution defining who has authority to enter into a borrowing agreement with the bank
Member-managed LLC
- Articles of Organization (must contain date stamp from Secretary of State)
- LLC Operating Agreement
Board-managed LLC
- Articles of Organization (must contain date stamp from Secretary of State)
- LLC Operating Agreement
- Board Resolution authorizing the proposed borrowing, and authorizing board governors to sign loan documents on behalf of the LLC
Non-Profit LLC
- Board Resolution authorizing the proposed borrowing, and authorizing board governors to sign loan documents on behalf of the LLC
All entities (other than publicly traded companies)
- Beneficial Ownership Form:
- Name, address, DOB, and SSN for all natural persons who own 20% or more of the business (non-profits can select “Not Applicable” for ownership)
- Name, address, DOB, and SSN for one person who has significant responsibility to control, manage, or direct the business. Can be someone who is also listed as an owner. Also applies to Non-Profits.
- Copy of Driver’s License for new owners or controller
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