Small Business Administration (SBA) Paycheck Protection Program

Please turn on JavaScript in your browser

It appears your web browser is not using JavaScript. Without it, some pages won't work properly. Please adjust the settings in your browser to make sure JavaScript is turned on.

Small Business Administration (SBA) Paycheck Protection Program

What you should know before you apply

We are not accepting applications for increases for first-time loans at this time

Key requirements for all applicants:

You are an authorized representative who can borrow on behalf of the business
You have an active Chase Business Checking account
Must have been in business as of February 15, 2020 and your business hasn’t been permanently closed
If applying as a franchise, you will need to enter the SBA Franchise Identifier Code at the time of application. You can find that code at sba.gov/sba-franchise-directory. If your franchise isn’t on the directory, please contact your local SBA District Office to help you get it added
You should review the requirements and guidance provided by the SBA for complete information regarding the PPP. The SBA continues to release updated guidance. For the most updated PPP rules, requirements and other information, visit SBA.gov and Treasury.gov. You may also want to contact your accountant, attorney or other trusted advisors

PPP Overview: first and second-time borrowers

First-time borrowers (including affiliates) in general:

Can have no more than 500 employees (or fewer or more for certain business types for certain SBA size standards)
- Accommodations and Food Services companies with NAICS code 72 can have no more than 500 employees per physical location.
The loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $10 million loan maximum (or $20 million for a corporate group)

Second-time borrowers (including affiliates) in general:

Can have no more than 300 employees
- Accommodations and Food Services companies with NAICS code 72 can have no more than 300 employees per physical location.
The second loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $2 million loan maximum (or $4 million for a corporate group).
- Accommodations and Food Services companies with NAICS code 72 can borrow up to 3.5 times the business’ average monthly payroll costs, up to a $2 million loan maximum.
- The business must have experienced a revenue reduction of 25% or greater in 2020 relative to 2019. In general, a borrower may calculate this revenue reduction by comparing quarterly gross receipts for one quarter in 2020 with the gross receipts for the same quarter in 2019. A business that does not file quarterly or was not in operation for all four quarters of 2019 may still qualify; see the SBA guidelines for details.
Used or will use the full amount of the first PPP loan for authorized purposes on or before the expected date of disbursement of the second PPP Loan

Documents you'll need when applying

For both first and second-time borrowers

If you file IRS Form 1040 Schedule C or 1040 Schedule F:

You must upload all of the following:

2019 or 2020 (whichever you used to calculate loan amount) Form 1040 Schedule C or Form 1040 Schedule F

Have no employees:

2019 or 2020 (whichever you used to calculate loan amount) IRS Form 1099-MISC detailing nonemployee compensation received (box 7), if applicable
2019 or 2020 (whichever you used to calculate loan amount) invoice, bank statement or book of record that establishes you are self-employed. [If 1099 not provided]
A 2020 invoice, bank statement or book of record to establish you were in operation on or around February 15, 2020.

Have employees:

2019 or 2020 (whichever you used to calculate loan amount) Form 941 (or other tax forms or equivalent payroll processor records containing similar information)
State quarterly wage unemployment insurance tax reporting forms from each quarter in 2019 or 2020 (whichever you used to calculate loan amount) or equivalent payroll processor records
A payroll statement or similar documentation from the pay period that covered February 15, 2020 must be provided to establish you were in operation on February 15, 2020.

If you file IRS Form 1065 (Partnership):

You must upload all of the following:

2019 or 2020 (whichever you used to calculate loan amount) IRS Form 1065
- (including K-1s) and other relevant supporting documentation if the partnership has employees
2019 or 2020 (whichever you used to calculate loan amount) IRS Form 941
State quarterly wage unemployment insurance tax reporting form from each quarter (or equivalent payroll processor records or IRS Wage and Tax Statements)
Records of any retirement or health insurance contributions.
If the partnership has employees, a payroll statement or similar documentation from the pay period that covered February 15, 2020 must be provided to establish the partnership was in operation and had employees on that date.
If the partnership has no employees, an invoice, bank statement or book of record establishing the partnership was in operation on February 15, 2020 must instead be provided

If you file IRS Form 1120-S (S-Corp) or Form 1120 (C-Corp):

You must upload all of the following:

2019 or 2020 (whichever you used to calculate loan amount) IRS Wage and Tax Statements (such as IRS Form 940, IRS Form W-3, or IRS Form W-2s) or equivalent payroll processor records or IRS Form 941 and state quarterly wage unemployment insurance tax reporting form from each quarter
2019 or 2020 (whichever you used to calculate loan amount) IRS Form 1120, IRS 1120-S
Records of any retirement or health insurance contributions
2020 Q1 IRS Form 941, a payroll statement or similar documentation from the pay period that covered February 15, 2020 to establish you were in operation and had employees on that date

If you file IRS Form 990 (Non-profit):

You must upload all of the following:

2019 or 2020 (whichever you used to calculate loan amount) IRS Wage and Tax Statements (such as IRS Form 940, IRS Form W-3, or IRS Form W-2s) or equivalent payroll processor records or IRS Form 941 and state quarterly wage unemployment insurance tax reporting form from each quarter
2019 or 2020 (whichever you used to calculate loan amount) IRS Form 990 Part IX or other documentation of any retirement and health insurance contributions, if applicable
2020 Q1 IRS Form 941, a payroll statement or similar documentation from the pay period that covered February 15, 2020 to establish you were in operation and had employees on that date

Second-time borrowers only

Documentation that shows the business experienced a revenue reduction of 25% or greater in 2020 relative to 2019.
- IMPORTANT NOTE: For loan requests of $150,000 or less, you won’t have to provide documentation when you apply for the loan, but you will have to provide documentation when you request Forgiveness.
If your first PPP loan was NOT through Chase, have the following information available:
- SBA loan #
- First PPP loan amount

REMINDER: You'll have to enter your information and then submit it; you won't be able to save and come back later.

If you're the only employee of your business, apply with your SSN, TIN or EIN. If you have employees, you must use your TIN or EIN.

You must upload all of the following:

2019 or 2020 (whichever you used to calculate loan amount) Business Tax Return
You must provide your Form 941 (or other tax forms containing similar information) and state quarterly wage unemployment insurance tax reporting forms from each quarter in 2019 or 2020 (whichever you used to calculate loan amount), or equivalent payroll processor records
Evidence of any retirement and health insurance contributions.
A payroll statement or similar documentation from the pay period that covered February 15, 2020 must be provided to establish you were in operation on February 15, 2020
Seasonal employers: Please include a coversheet stating you are a seasonal business along with your 12-week period selected.

Continue to open an application

This material is for general informational purposes only and may not apply to all borrowers. You should review the requirements and guidance provided by the SBA for complete information regarding PPP. The SBA continues to release updated guidance: visit SBA.gov and Treasury.gov.

All loans are subject to other requirements and availability of funds under the SBA program. Funds are limited.
JPMorgan Chase Bank, N.A. Member FDIC. Equal Opportunity Lender

Small Business Administration (SBA) Paycheck Protection Program

Business Checking

Business Loans

Business Credit Cards

Merchant Services

Business Savings

Business Debit Cards

Commercial Banking

Business Services

You're now leaving Chase