Applying for the PPP/EIDL Loans

APPLICATIONS ARE NOW CLOSED!

*SOLE PROPRIETOR MUST PROVIDE THE FOLLOWING BY MIDNIGHT EST AUG 2ND*

 

NEED TO PROVIDE US TONIGHT BY MIDNIGHT EST SUN AUG 2ND:

(1) Jan/Feb 2020 Bank Statement

 

AND ANY 2 OF THE FOLLOWING:

(1) Invoice for service dated Jan-March 2020

(2) Lease agreement (this is preferred, just need the 1st page and signature page, this is verifying your address)

(3) Business License

(4) IRS EIN Document prior to Feb 15th 2020

(5) Utility Bill with your address on it 

YOUR ADDRESS SHOULD MATCH/BE THE SAME on your ID, Bank Statement, and any other items you submit. If we do not have all materials we will be purging you from our pipeline and issuing a refund. 

EMAIL YOUR MATERIALS TO TECHSUPPORT@STARTWITHSBS.COM  and cc: SUPPORT@STARTWITHSBS.COM

NEW REQUIREMENTS TO SUBMIT for Businesses / LLCs in order to guarantee your approval.

 

  • Registered Trade Name

  • Certification of Good Standing

  • Proof of Incorporation 

  • Business License 

  • Business Utility Bill 

  • Lease agreement

In the application you will need to provide the following:

  • upload a copy of driver's license (front and back)

  • upload a complete copy of Feb2020 bank statement (does not have to be a business account)

  • upload 2019 taxes (if you filed them)

  • upload proof of payment (screenshot, receipt, or invoice confirming your payment of $250

    • Preferred: Zelle 212-658-0537 

    • Accepted: Cash App $ShowersBizSolutions

  • input the nature of your business (type in what you do)

  • and email a copy of 2 of any of the following:

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Thank you for entrusting SBS with your PPP/EIDL loan submission and processing.

 

Please review all the FAQs below prior to applying. We have detailed some of the most popular questions we have received. The questions people are usually surprised about are highlighted purple. 

CONSULTATIONS

In order to efficiently review, process and submit loan applications for as many as possible, SBS has canceled one on one consultations and has instead hosted group consultations view Zoom. Consultations for services other than PPP/EIDL loan will resume after Aug 8th. 

If you are applying, please watch the zoom session and review the FAQs below. If you still have a question or concern email support@startwithsbs.com and provide details.

Frequently Asked Questions

What is the deadline to submit the application to SBS?

  • Sole Proprietors:  Sunday 8/2 10pm EST - *NO LONGER ACCEPTING APPLICATIONS!

  • Businesses with an EIN established before June 2019 that has an active LC or LLC: Sunday 8/2 12am EST

How can I apply?

NO LONGER ACCEPTING APPLICATIONS.

How much does this cost?

  • Application fee: $250

  • Post disbursement: $1750

 

The back end fee upon loan disbursement is $1750 but if you have chosen to get an EIDL, the back end fee is $2000 and $250 of the amount is designated for the documentation fee for the EIDL.

How can I pay the application fee?

  • Preferred: Zelle 212-658-0537 

  • Accepted: Cash App $ShowersBizSolutions

You must pay when submitting your application and provide proof of payment (screenshot or copy of the invoice can be uploaded to the application). 

 

What is the prerequisite for applying?

A 620 or higher Experian credit score. Please be aware that you will be required to provide proof of this required score later in the process. 

 

Would I qualify if I don’t have business income or a business account?

Yes, you would qualify.

 

If I am not approved, is my application fee refundable?

No, the application fee is nonrefundable.

 

What documents are required for the process?

The required documents you will have to upload in your application includes:

  • a photocopy of the front and back of your driver's license,

  • a copy of your 2019 taxes (if you filed them)

  • a copy of your bank statement from February 2020

  • a screenshot of proof of paying the application fee

If I have more than one business, do I have to pay the application fee for each filing?

Yes, the fee is for processing each application.

Is it an issue if I didn’t file 2019 taxes?

No. There is a provision that will allow individuals to apply without having completed tax returns.

What if I don’t have a 1099 or Schedule C?

You may still be eligible. These are not required fields in the application. 

 

Can I schedule a one-on-one for help for my business?

Business formation consults will be scheduled after August 8th.

Do I need a business banking account?

No. Personal checking and saving accounts are acceptable.

Please note: if you use a bank account of someone else (like a spouse or family member) you will have to submit the application to SBS in that person's name!

 

I think I made a mistake on my application, can I redo it?

We don’t recommend that you redo the application. Instead, please send an email with all corrections to techsupport@startwithsbs.com  and CC support@startwithsbs.com.

 

Where can I find the contract / service agreement?

Please be aware that a signed contract ./ service agreement is required for every applicant. The application is not complete without a signed contract. 

Link to the SBS contract / service agreement: https://bit.ly/sbsagreement 

Where can I find more information?

For any questions, please send an email to techsupport@startwithsbs.com as well as support@startwithsbs.com describing what you need. 

Here is a replay to our most recent group consult: https://bit.ly/sbszoom1

I would like to talk with Liz about other services other than PPP/EIDL loans. What do I do?

Please fill out our intake form and a member of the team will be in touch to schedule a consultation. 

EMAIL YOUR MATERIALS TO TECHSUPPORT@STARTWITHSBS.COM  and cc: SUPPORT@STARTWITHSBS.COM

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