In addition to your loan documents, and depending on which application form you use, you will need documentation of:
- Payroll Costs – To verify the eligible cash compensation and the non-cash benefit payments from the Covered Period (or the Alternative Payroll Covered Period).
- Non-Payroll Costs – To verify existence of the obligations/services prior to February 15, 2020, and eligible payments from the Covered Period.
- FTE - If you are using Form 3508 (Standard Application) you may elect to provide documentation of full-time equivalency (FTE).
Please see our Required Document Checklist for the specific documents required for each expense category, based on application form.
Other Important Documentation Information:
- Supporting documentation must be available in electronic format so that you can attach it to the online Forgiveness Application.
- You will only be required to provide documentation verifying those costs for which you are seeking forgiveness (e.g. If you are only seeking forgiveness of Payroll costs, you are not required to provide documentation of Non-Payroll costs, though you may elect to do so if you choose).
- You will be asked to upload documents at different times during our online application process.
- Uploaded documents must be no larger than 10 MB and must be in one of the following formats: .doc, .docx, .pptx, .xlsx, .xls, .pdf, .jpg, .jpeg, .png.
- You can remove and upload documents again if corrections are needed.
- Please be sure to highlight, circle, underline or otherwise indicate values or data on each uploaded document that is included in your calculations to assist in the review of your application. Not doing so could delay the submission of your application to the SBA.
We are limited in our ability to answer questions regarding PPP Loan Forgiveness until your application process begins. At that time you’ll have the ability to email your loan processor, but please note you should contact your preferred financial, tax or legal advisor for any questions about your loan forgiveness. You should also review the information on the SBA and US Treasury websites (links provided above and below). You may contact us before you begin the PPP Loan Forgiveness process at CaresAct@mechanicsbank.com, but please note, due to the large volume of emails we receive each day, you may not receive a response for 48 hours. Thank you for your patience and understanding.