Paycheck Protection Program (PPP Loans)

Asset Enhancement Solutions' team of seasoned Finance, Lending and Banking experts are available for all businesses facing challenges during the COVID-19 Pandemic.

Right now, our experts are walking business owners through the SBA's Payroll Protection Program (PPP) loan application process.

• Know what information is needed
• Have answers you need to eliminate confusion
• Have relationships with multiple lenders that will move applications through the process rapidly

Apply for Your PPP Loan Here

Click on any line item below to jump to that specific section of this page:

• Apply for Your PPP Loan Here
• Complimentary VIP Treatment for those Struggling to Secure a PPP Loan
• Documents & Information Needed by Entity Type to Complete PPP Application
• Summary of Changes to PPP Program in 2021
• Frequently Asked Questions (FAQs)
• Merge Multiple PDF's into One PDF
• Workshops for Independent Contractors
• Workshops for Business Entities Other than Independent Contractors
• Guidelines from the SBA
• Calculation of 25% Reduction in Revenue for 2nd Draw PPP Loans
• Calculation of Total Average Monthly Payroll - Instructions & Samples
• Selecting the Proper NAICS Code

Complimentary VIP Treatment
for those Struggling to Secure a PPP Loan

We are providing complimentary VIP/personal service to applicants who process their application for the PPP loan through us. We have a strong team of 19 experienced professionals who are providing incredible White Glove service to our clients. There is no cost to our applicants for this service. While others are just accepting and processing applications, we are trouble-shooting every phase of the PPP loan process, from determining applicant eligibility to helping the applicant through the details and complexities of the application via the online platforms that the lenders we teamed up with are using. You DO NOT need to have a banking relationship with our lender to process your application.

To learn more about this VIP Treatment, click here.

Documents & Information Needed
by Entity Type to Complete PPP Application

Click below for a one-page summary of documents and information needed depending on your business entity type:

• For LLC's
• For Corporations: S-Corp or C-Corp
• For General Partnerships
• For Sole Proprietors/Independent Contractors/Self-Employed/Single-Member LLC's
• Not-for-Profits

Summary of Changes to PPP Program in 2021
You can review the key changes for the 2021 PPP Program (generally referred to as PPP Round 2) vs the 2020 PPP Program (PPP Round 1) here.

Coming Soon
Frequently Asked Questions (FAQs)
We have created an FAQ document based on the many questions we have received from our clients so far. We will continue to update and add to this document.

Merge Multiple PDF's into One PDF
Instructions for how to merge multiple PDF's into One PDF (which you may need to do when uploading your documentation to the PPP application) can be found here.

Workshops for Independent Contractors
We will be scheduling free workshops to walk Independent Contractors through every step of the application process, so they can apply as we conduct the workshop (assuming they gather the documentation needed beforehand, which we list above in the Documents & Information Needed By Entity Type section.

When these workshops are available (soon), dates, times and sign-up forms will be available here.

Workshops for PPP Loans -for Business Entities Other than Independent Contractors
We will be scheduling free webinars to walk clients through every step of the application process, so they can apply as we conduct the workshop (assuming they gather the documentation needed beforehand, which we list above in the Documents & Information Needed By Entity Type section.

When these workshops are available (soon), dates, times and sign-up forms will be available here.

Guidelines from the SBA

• Top-Line Overview of First Draw PPP
• How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide By Business Type
• Procedural-Notice--First-Draw-Paycheck-Protection-Program-Loan-Increases-After-Enactment-Economic-Aid-Act
• PPP-Excess-Loan-Amount-Errors
• Top-Line Overview of Second Draw PPP
• Second Draw PPP: How to Calculate Revenue Reduction & Maximize Loan Amounts Including What Documentation to Provide
• Interim Final Rule - PPP as Amended by Economic Aid Act
• Interim Final Rule - PPP Second Draw Loans
• PPP Second Draw Borrower Application Form

Calculation of 25% Reduction in Revenue for 2nd Draw PPP Loans
For PPP Round 2/2nd Draw loans, businesses must be able to show a reduction in revenue of at least 25% in at least one quarter of 2020 vs 2019. Download the following worksheets for help:

• Definition of Gross Revenue/Gross Receipts
• Instructions for 25% Reduction in Revenue
• Template for Calculation of 25% Revenue Reduction
• Revenue Test - In Business all of 2019 and 2020
• Revenue Test - Not in Business in 2019 but in business as of February 15, 2020
• Revenue Test - In Business 3rd & 4th Quarters of 2019 and all of 2020
• Revenue Test-In Business 4th Quarter of 2019 and all of 2020

Calculation of Total Average Monthly Payroll - Instructions & Samples
For PPP Round 2/2nd Draw loans, businesses may include company-paid portions of health insurance costs, retirement plans and SUI taxes as part of their payroll costs, in order to calculate the totals that PPP loan will be based on. Download the following worksheets for help:

• Instructions on Additional Payroll-Related Items for Round 2
• Template to Assist with Additional Payroll Document Requirements for Round 2
• Completed Sample Template Using Baker Foods as an Example
• Complete Documentation Package for Average Monthly Payroll - Example Using Baker Foods
• PPP Loan Calculation Worksheet - Example Using Baker Foods
• Compensation Calculation - Example Using Baker Foods
• Compensation in Excess of $100,000 - Example Using Baker Foods
• Employer Paid Health Care - Sample Using Baker Foods
• Employer Paid Retirement Costs - Example Using Baker Foods
• Employer Paid State & Local Taxes (SUI) on Compensation - Example Using Baker Foods

Selecting the Proper NAICS Code
The PPP Loan application asks for an NAICS code for your organization. Click here for help in selecting the proper NAICS code for your organization.

We are here to help. Please do not hesitate to contact us at any time:

Phone: 516-767-0100
After Business Hours please leave a voice message and your message will be forwarded to us 24/7.

Email: PPPsupportstaff@assetenhancement.com

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