Applications will be collected until August 5, 2020. 

 

 

Already a HawaiiUSA Business Member?

To apply for the Paycheck Protection Program, you will need to have following documents

  1. PPP Application Form (completed and signed)
  2. Supporting Tax Documents identical to those submitted to the IRS1
  3. Entity Documents2

You will need to upload the listed documents when you Apply for SBA PPP

 

Treasury Department Paycheck Protection Program Fact Sheet 

 

For more information, please refer to Interim Final Rule, updates, and FAQs available from the Small Business Administration and United States Department of Treasury:

 

1Examples of Tax Documentation that may be submitted to support payroll expense calculations:

  • Certified payroll summary report from third party processor and IRS Form 940/941s
  • Form w-2/w-3 for each employee
  • Schedule K-1 for each owner
  • Form 1099-MIsc for each independent contractor
  • Schedule C or Profit & Loss Statement for each sole proprietor 
     

2Copy of all Entity Documents

  • Corporation: Articles of Incorporation and By-Laws
  • Partnerships: Partnership Agreement
  • LLC: Articles of Organization and Operating Agreement
  • LLP: Partnership Agreement and Operating Agreement
  • Proprietorship: GET License
  • All Entity Types: Trade Name Registration

 

 

All loan terms will be the same for everyone

  • The loan amounts will be forgiven as long as
    • Loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8-week period after the loan is made; and
    • Employee and compensation levels are maintained.

 

  • Payroll costs are capped at $100,000 on an annualized basis for each employee
  • Loan payments will be deferred for 6 months

 

Who is eligible?

  • Small businesses with less than 500 employees (including self-employed, sole proprietors, and independent contractors)
  • Private non-profit or 501 (c)(19) veterans' organizations
  • Business exceeding 500 employees may be eligible if they meet the SBA size standards for the respective industry
  • Small businesses in the hospitality and food industry with more than one location can also be eligible at the individual store/location level if the store/location employs less than 500 employees

 

 

Small businesses and sole proprietors can apply for and receive loans to cover their payroll and other certain expenses from April 3, 2020

 

Independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses from April 10, 2020

 

 

Not a HawaiiUSA Business Member yet? Learn more about business membership.
Business Membership process could take up to six weeks.