This page is to give ANECA Business Members our most updated information on the Payroll Protection Program (PPP) to help you, your employees, and your business.

ANECA’s Deadline for filling out and returning your applications listed on this page is May 24, 2021.

PPP 2ND Round Application Available

*Please read over this information before filling out the application on this page*

They have released the Second Payroll Protection Draw Application for those of you who are interested in applying. Please make sure before you apply that you are certain you will qualify and are able to prove the gross receipt reduction between at least one quarter in 2019 compared to the same quarter of 2020. Below you will find the definition of gross receipts, and other terms, according to SBA. If you are applying you will need to send payroll documentation along with application. You can elect to apply based on 2019 payroll or 2020, whichever you feel like will qualify you for the most aid. If you opened your business after the 2nd Quarter of 2019, specialized rules may apply. The items I will need is based on how you file your tax return and are listed below. When submitting you application please make sure to initial under question 4 and 5 on page 1.

We are happy to help with any questions or concerns.

Please email or if you need additional assistance.

If you are a 1099 employee, self-employed or LLC that files your business under your personal 1040 return Schedule C send the following:

  • 2019 filed Schedule C *OR* 2020 Schedule C
  • Current bank statement to show you are still in business in February 15, 2020
  • Attached Application
    *Additional information may be required.

And if you also pay w2 employees the below listed items

If you have W2 employees provide the following for either 2019 or 2020:

  • Detailed payroll summary or W3 and W2s
  • 941s and your state quarterly wage unemployment insurance tax report for each quarter in year elected
  • K1s (if filed as partnership)
  • Evidence of any retirement and health insurance contributions for the year
  • Payroll statement or similar documentation(bank statement) to show you were in operation on February 15, 2020
  • Attached application
    *Additional information may be required.

If your loan amount requested in above $150,000 you will also need to submit proof of the revenue reduction by annual tax statement or quarterly financials.

Below are definitions to help you determine if you qualify for PPP based on gross receipts reduction and how to calculate what you qualify for.

Definition from SBA of Gross Receipts :

“Gross receipts includes all revenue in whatever form received or accrued (in accordance with the entity’s accounting method) from whatever source, including from the sales of products or services, interest, dividends, rents, royalties, fees, or commissions, reduced by the returns and allowances. Generally, receipts are considered “total income”(or in the case of sole proprietorship, independent contractor, or self-employed individual “gross income”) plus “ cost of goods sold” and excludes net capital gains or losses as these terms are defined and reported on IRS tax forms. Gross receipts do not include the following: taxes collected for and remitted to a taxing authority if included in gross or total income (such as sales or other taxes collected from customers and excluding taxes levied on the concern on its employees); processed from transactions between a concern and its domestic or foreign affiliates; and amounts collected for another by a travel agent, real estate agent, advertising agent, conference management service provider, freight forwarder or customs broker. All other items, such as subcontractor cost, reimbursements for purchases a contractor makes at a customer’s request, investment income, and employee-based costs such as payroll taxes, may not be excluded from gross receipts. The amount of any forgiven First Draw PPP loan shall not be included toward any borrower’s gross receipts. “

Definition of payroll cost by SBA:

“Payroll cost consist of compensation to employees(whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensations; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips); payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care or group life, disability, vision, or dental insurance, including insurance premiums, and retirement; payment of state and local taxes assessed on compensations of employees; and for an independent contractor or sole proprietor, wages, commissions, income or net earnings from self-employment, or similar compensation.”

Application Links:

First Draw Information:

PPP First Draw Borrower Application Form (revised 3.18.2021)

PPP First Draw Borrower Application Form for Schedule C Filers Using Gross Income (Revised 3.18.2021)

Top-line Overview of First Draw PPP (1.8.2021)

Second Draw Information:

PPP Second Draw Borrower Application Form (3.18.2021)

PPP Second Draw Borrower Application Form for Schedule C Filers Using Gross Income (revised 3.18.2021)

Top-line Overview of Second Draw PPP (1.8.2021)

Please email your documents and completed application to &

PPP Second Round

How to Qualify

  • To qualify you have to have no more than 300 employees
  • Have used or will use the full amount of the first PPP loan prior to disbursement of the second draw and
  • Be able to demonstrate at least a 25% reduction in gross receipts in the first, second, third or fourth quarter of 2020 relative to the same quarter in 2019 (if you were not in operation until 2020 a reduction of revenue from first quarter of 2020 to any other quarter in 2020).

How to Apply

  • There will be an application available specific to the second draw. (As of January 8, 2021, this is not yet available.)
  • You will need to turn in the same type of payroll documentation that you did for the first round however you can pick if you want to use 2019 payroll or 2020 payroll documentation to base your calculation on.
  • You will calculate based on average payroll cost time 2.5 unless you are in a restaurant business or accommodation industry then you are allowed to base it off of 3.5 times payroll cost.
  • You will need to be able to prove the 25% reduction of gross receipts by annual tax documents, quarterly financials, or bank statements. The size of the loan request will determine the timing you are required to provide proof, either before or after submission.

Terms and Forgiveness

  • You will need to use at least 60% of the PPP loan funds for Payroll but they extended the list of items you can use the remaining balance on to the following.
    • Previous utilities, mortgage interest, and rent
    • Covered operation expenditures -payments for software, cloud computing, and other human resources and accounting needs
    • Covered property damages- it defines this as cost related to property damages due to public disturbances that occurred in 2020 and was not covered by insurance
    • Covered supplier cost-expenses to suppliers to per a contract, purchase order, or order for goods that were in effect prior to taking out this PPP Loan that are essentials to your business operation at the time the expense was made
    • Covered worker protection expenditure-PPE and adaptive investment to help the business comply with health and safety regulations
  • The loan is at a 1% interest and 5 year term
  • It is eligible for forgiveness if you use the funds between the 8 to 24 week period on the above mentioned items and at least 60% goes to approved payroll costs.

PPP Forgiveness (Round 1 PPP)

The recent act simplified the application process to apply for forgiveness. If you haven’t filed yet for forgiveness they are developing a new form for loans under $150,000 that will be just a one page certification. You will not have to provide any documents to the credit union to support the forgiveness however make sure you retain them for your records for at least 4 years.

Also those that received the EIDL grant, you will no longer have your forgiveness amount be reduced by the grant amount.

The details do not list when the program will be made available again however we do believe it will be very shortly and is set to run until March 31, 2021 or until funds are exhausted. There are several additional details listed in the documents below as well as a provision to apply for additional funds for the first round if the calculation were initial wrong.

Below are links and published rules for anyone who would like to read through the interim rule and websites that are helpful.

We will be happy to go into more detail with anyone interested in the PPP program.

If you would like to be notified as soon as the application is available, please email us using this form.

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Jessica Watkins
Business Relationship Manager

Phone: (318) 698-6348