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Are you an existing Vast Bank client, outside of your PPP loan?
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Yes, I had a loan or deposit relationship with Vast Bank prior to my PPP loan, or I have established one since.
No, I do not have a banking relationship with Vast Bank outside of my PPP loan.
Did you receive your first Paycheck Protection Program (“PPP”) loan from Vast Bank?
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Yes, I received my first PPP loan from Vast Bank.
No, I did not receive my first PPP loan from Vast Bank, or I did not receive a first round PPP loan at all.
We are not currently processing PPP applications for borrowers who did not receive their first draw PPP loan through Vast Bank; however, please submit your contact information below and we will let you know if we are able to process your request.
Borrowing Name (Corporation, LLC, or Personal Name for Sole Proprietorship)
*** Please use only letters or numbers when entering the name ****
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Contact Phone
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Contact First Name
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Contact Last Name
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Contact Email Address:
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Loan Amount (Required)
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Reason for the Loan: (Required)
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NAICS Code
If you do not know your entity NAICS Code, you can look it up here (
https://www.naics.com/search/
).
The complete NAICS Code is a required field and your application cannot be processed without this information.
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Step 1: Upload Completed PPP Application (Required)
The ENTIRE application must be completed and signed, as all information must be submitted to SBA. We cannot process your application if any fields are left blank.
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Step 2: (Required)
Provide documentation that validates a 25% or greater gross revenue decline. This was an eligibility requirement of PPP2 loans. Click here for more information on acceptable documentation.
Your Forgiveness Application cannot be processed without this information. Please respond accordingly:
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I am uploading appropriate documentation for the 25% or greater revenue decline, OR
My loan is greater than $150,000 and I provided proof of a 25% or greater revenue decline at the time of application.
The following are the primary sets of documentation Applicants can provide to substantiate their certification of a 25 percent gross receipts reduction (only one set is required):
• Quarterly financial statements for the entity. If the financial statements are not audited, the Applicant must sign and date the first page of the financial statement and initial all other pages, attesting to their accuracy. If the financial statements do not specifically identify the line item(s) that constitute gross receipts, the Applicant must annotate which line item(s) constitute gross receipts.
• Quarterly or monthly bank statements for the entity showing deposits from the relevant quarters. The Applicant must annotate, if it is not clear, which deposits listed on the bank statement constitute gross receipts (e.g., payments for purchases of goods and services) and which do not (e.g., capital infusions). • Annual IRS income tax filings of the entity (required if using an annual reference period). If the entity has not yet filed a tax return for 2020, the Applicant must fill out the return forms, compute the relevant gross receipts value (see Question 5), and sign and date the return, attesting that the values that enter into the gross receipts computation are the same values that will be filed on the entity’s tax return Additional information can be found here:
https://home.treasury.gov/system/files/136/Second-Draw-PPP-Loans--How-Calculate-Revenue-Reduction-Maximum-Loan-Amounts-Including-Documentation-Provide1192021.pdf
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Step 3: Upload supporting payroll documentation (Required)
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I previously provided Vast Bank payroll period and documentation for PPP1 that I would like to use to calculate PPP2
I am using a new payroll period and need to upload the supporting documentation.
Upload supporting payroll documentation (Required)
Acceptable documentation includes 941s, Payroll reports, or 2019 Schedule C.
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Step 4: Upload documentation for deduction of employees’ payroll above $100,000, as applicable.
Acceptable documentation includes any spreadsheet that shows your calculations reflecting these deductions.
Step 5: Upload documentation for group health care benefits, including premiums, as applicable.
Documentation required if this expense was included in the calculation of your loan amount.
Step 6: Upload documentation for state or local tax assessed on the compensation of employee(s), as applicable.
Documentation required if this expense was included in the calculation of your loan amount.
Step 7: Upload documentation for employers’ contributions of retirement (401(k), profit sharing, etc.), as applicable.
Documentation required if this expense was included in the calculation of your loan amount.
Step 8: Is your Second Draw PPP Loan $150,000 or greater?
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Yes
No, my Second Draw PPP Loan is less than $150,000.
Upload documentation for 25% revenue decline. (Required)
You must demonstrate a 25% revenue decline in any given quarter of 2020 compared to the same quarter in 2019, or show a 25% annual reduction in revenues when comparing 2020 to 2019. Appropriate documentation includes an income statement for the quarter that qualifies, or tax documents.
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Upload documentation for 25% revenue decline. (Optional)
For loans less than $150,000, d
ocumentation of your 25% decline in revenue is not required at this time, but it will be required when you submit your Forgiveness Application. You have the option of providing it now.
Step 9: Any Other supporting documentation can be uploaded here
Other files are suggested. Each file should named differently.
Step 10: Funding Instructions (Required)
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Option 1: Deposit funds into a Vast Bank checking account
Option 2: Wire the funds to another bank
Vast Bank Account (Required):
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Bank Name (Required):
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Bank Routing Number (Required):
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Bank Account (Required):
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IMPORTANT
: You must
pass the Captcha (your not a robot)
, and then
Click SUBMIT Button
. If you do not
click Submit
then form will not be sent.
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