Welcome to Your No.1 Community Bank's Blog

« BACK

April 30, 2020

Apply for SBA PPP Funding

Virginia National Bank is now accepting applications from customers and non-customers. If you are not an existing VNB customer, you will be required to set up a new business account.


These are the documents we need to process your application through the SBA PPP process.

            For Small Businesses:

1. Complete this SBA Application.
2. All owners of Applicant – you must include:

  • Name, Title, Ownership %, TIN (EIN, SSN)
  • Complete address – street, city, state

3. Readable clear scanned copy of owners’ driver’s licenses – front and back. 
4. Articles of incorporation/organization. 
5. By-laws/operating agreement.  For Non-Profits, an executed Board Resolution.
6. Copies of payroll tax reports filed with the IRS:

  • Forms 941, 944, state income and unemployment tax filing reports for the entire year of 2019 and first quarter of 2020.

7. Copies of detailed payroll reports for each pay period for the entire year of 2019 and the first quarter of 2020. 

  • Reports must include gross wages including PTO (which include vacation, sick, and other PTO).

8. Documentation reflecting the health insurance premiums paid by the company under a group health plan including owners of the company for the entire year of 2019 and the first quarter of 2020.
9. Documentation of all retirement plan funding paid by the company for the entire year of 2019 and the first quarter of 2020.
10. A detailed profit and loss statement for the entire year of 2019 and first quarter of 2020.
11. Include your worksheet as to how you calculated the payroll amount requested on the application.
12. Complete the SBA Funding document.

            For Sole proprietors, independent contractors and eligible self-employed individuals : 

1. Complete this SBA Application.
2. Payroll tax filings reported to the IRS, if applicable.
3. Forms 1099-Misc.
4. Tax returns for 2019 with Schedule C and Schedule SE (Self Employment) tax – if not yet filed a draft may be used.
5. P&L for the first quarter of 2020.
6. Complete the SBA Funding document.

 

Instructions to follow when you are ready to submit:

1. Click HERE for VNB's Secure File Exchange.

2. Click SECURE UPLOAD

3. Enter Recipient Email as > sbappp@vnb.com 
IT IS EXTREMELY IMPORTANT THAT YOU DO NOT ENTER AN INDIVIDUAL’S EMAIL ADDRESS.

4. Upload completed SBA Application and all required documents (instructions above) into one email for all entities.


We know that this is quite a bit of information but by submitting all information at one time it will significantly speed up the SBA process. The entire process will take 7 business days. Thank you!


Join our Mailing List