• Local Produce
  • Buy Local
  • Local Seafood
  • Local Food
  • Local Music
  • Local Art
  • Local Churches

CAPE CHARLES MIRROR

Reflections on Cape Charles and the Eastern Shore

  • Local Services
  • Local Rentals
  • Local Employment
  • News
  • Opinion
  • Classifieds
  • PODCAST
  • Pets
  • Contact Us

Small Business Help: Congress has replenished the SBA’s Paycheck Protection Program (PPP).

April 26, 2020 by Wayne Creed Leave a Comment

Small Business help is available. Congress has replenished the SBA’s Paycheck Protection Program (PPP). Please review the information below and submit your applications now to reserve your place in line. We will be processing applications on a first-come, first-served basis.

With the signing of the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law, the Federal Government is providing relief for individuals and businesses negatively impacted by the coronavirus outbreak.

Your organization may be eligible for the U.S. Small Business Administration’s Paycheck Protection Program (PPP). This loan can assist in covering payroll for eight weeks, as well as other overhead expenses. Guidelines on calculating your qualified loan amount can be found in the provided Calculating Payroll Costs document. SBA may forgive these loans if used for eligible purposes. Guidelines on how to qualify for forgiveness can be found in the Use of Loan Proceeds document.  

Both nonprofit and for-profit entities may be eligible for the program. If you think you are eligible for PPP, Virginia Community Capital is here to help as an SBA-approved lender. 

VCC is working with small businesses and nonprofits to provide these loans. Due to volume of demand, VCC is only accepting complete applications submitted to the designated email. Incomplete applications will not be accepted, and you will be informed to resubmit a complete package. Once a complete package is submitted, VCC will work diligently to process the request.

Get PPP Application Form

In order to process, we will need to call the phone number provided on the SBA application form, so please provide the best number to reach you on, otherwise, processing will be delayed.

  • Payroll Analysis Form (found here)*
  • Documentation confirming the number of full-time equivalent employees and corresponding payroll cost
  • 2019 tax return (2018 is acceptable if 2019 has not been filed)
  • If no 2019 tax returns, 2019 internal financial statements
  • If available, January and February 2020 in-house statements
  • If returns are on Schedule C, you must provide a company-prepared Balance Sheet for the coinciding year of tax returns provided
  • September 30, 2019 and December 31, 2019 payroll tax filings with proof of submission
  • Organization Documents pertaining to your legal entity structure. This includes articles of incorporation/organization, bylaws/operating agreements, corporate resolutions, etc
  • EIN letter from the IRS that verifies the TAX ID number
  • Social Security number for each signer and individual with 25% or more ownership
  • Copy of driver’s license for each signer and individual with 25% or more ownership
  • SBA Form 2483 (Access by clicking on the Get PPP Application Form link below)

Here are some questions you will need to answer on the application.

  • Have you laid anyone off? If so, do you intend to bring them back on payroll? 
  • How will you spend the money, breakdown via rent, payroll, and/or utilities?
  • Have you applied to another lender for a PPP loan or to the SBA for an Economic Injury Disaster Loan?

Please note, at this time VCC Is only taking requests for eligible loan amounts of $10,000 and above.

Filed Under: Bottom, News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Join the Conversation!

Send letters, opinion, goings on or photos to capecharlesmirror@gmail.com

Mirrors

Recent Comments

  • Paul Plante on When Can I Get Vaccinated for Covid-19?
  • Paul Plante on Opinion: Making it Up as they Go
  • Paul Plante on Northampton to remove Confederate statue
  • Paul Plante on Black Mirror: The Big Tech Suppression of Conservatives
  • Paul Plante on Northampton to remove Confederate statue
  • Paul Plante on Cape Charles Yacht Center Cancels Fuel Cards
  • Sorin Varzaru on Black Mirror: The Big Tech Suppression of Conservatives
  • Slide Easy on Black Mirror: The Big Tech Suppression of Conservatives
  • Stuart Bell on Northampton to remove Confederate statue
  • Sorin Varzaru on Black Mirror: The Big Tech Suppression of Conservatives
  • Sorin Varzaru on Black Mirror: The Big Tech Suppression of Conservatives
  • Scotiagirl on Northampton to remove Confederate statue
  • Scotiagirl on Northampton to remove Confederate statue
  • Paul Plante on Op-Ed: To Heal the Nation, Biden Must Apologize
  • Paul Plante on Congresswoman Luria Secures Seat on House Committee on Homeland Security
  • MJM on Black Mirror: The Big Tech Suppression of Conservatives
  • Andrew Dufresne on Cape Charles Yacht Center Cancels Fuel Cards
  • Paul Plante on Opinion: Making it Up as they Go
  • Harry on History Notes Xtra: Crosby, Stills, Nash and Young at Foreman Field
  • Paul Plante on Northampton to remove Confederate statue

Trending Now

  • Northampton to remove Confederate statue
  • List Of Clinton Associates Who Allegedly Died Mysteriously Or Committed Suicide Before Testimony
  • Joe Biden: America is Doomed by Increased Minority Presence
  • Check the Code: Dominion Voting system tied to Hugo Chavez voter fraud was used in 2020 swing states
  • Black Mirror: The Big Tech Suppression of Conservatives
  • When Can I Get Vaccinated for Covid-19?
  • Congresswoman Luria Secures Seat on House Committee on Homeland Security
  • Cape Charles Yacht Center Cancels Fuel Cards
  • Solarwinds Orion Hack: How compromised are Dominion Voting Systems?
  • Open Letter to Spencer Morgan, Accomack County Commonwealth’s Attorney

Subscribe to CC Mirror via Email

Enter your email address to subscribe

Copyright © 2021 · News Pro Theme on Genesis Framework · WordPress · Log in