Business

Chesapeake Bank of Maryland is prepared to assist you with your SBA funded Paycheck Protection Program (PPP) loan application. 

In order to process your application efficiently and to avoid any delays in seeking funding for your loan, we require the following information and documentation: 

 

 

  • Your company’s 2019 detailed payroll tax reports. including quarterly 940, 941 or 944 reports
 
  • Trailing 12 months of detailed payroll report itemizing gross wages including commissions and paid leave, as well as employee withheld federal and state income taxes (FIT/SIT), and employee withheld FICA-SS/FICA-Medicaid
 
 
  • Profit and Loss Statement from 3/31/2019 through 3/31/2020; with details to include:
    • Group health and welfare insurance program premium invoices specifying the employer (company) contributions (your payroll cost)
    • Employer contributions to fund qualified retirement plans
    • State and local taxes on employee compensation (i.e., employer Unemployment Tax)
    • Breakdown of Mortgage Interest, Rents and Utilities
 
  • Good Standing certificate for the State of MD
 
  • NAICS Code
 
  • Date business was established
 
  • For ADP Payroll Customers, please provide the CARES SBA-PPP Payroll Report from 3/1/19 to 3/1/2020

 

Once you have organized these documents, please submit them via email to Matt Mullen (mmullen@chesapeakebank.com).  A Chesapeake Bank of Maryland representative will contact you to review your application and supporting documents to ensure the information is accurate and eligible for submission to the Small Business Administration (SBA).

Please note that SBA-PPP loan applications will be reviewed in the order they are submitted to the SBA.  Submission of any inaccurate/incomplete application or inadequate supporting documentation will be returned by the SBA and processing will be delayed.

ADP has released a useful guide to the Paycheck Protection Program available here

If you have additional questions regarding the SBA/PPP loan, please email Matt Mullen at mmullen@chesapeakebank.com; Eric Rebbert at erebbert@chesapeakebank.com; Tony Moss at tmoss@chesapeakebank.com.

 

 

Equal Housing Lender Digital Insight, an Intuit company Member FDIC NMLS #402427