American Lending Center (ALC)

Make sure to enter priority code 8852 for a speedy process and support if needed.

Documentation Requirements

Schedule C – Self Employed 

1. Schedule C
   (either 2019 or 2020)
2. ID
   (license or passport)
3. Proof of operation prior to 02/15/2020
   Bank statement: Showing deposits before 02/15/2020
   Invoice: Dated prior to 02/15/2020
4. Voided check
   (blank check with “VOID” written on it)
   If you don’t have a check: Upload either a sheet (on bank letterhead) showing your routing and account numbers (e.g. prefilled deposit slip) or a screenshot of your online account showing your routing and account numbers, bank name, and applicant’s name.
5. Most recent bank statement
   Should be the same bank account as a voided check.

   
   Disregard all the other documents request pages. Also, don’t worry too much if you uploaded the document in the wrong section – just make sure to upload all required documents above.

6. Application Tips
   • “Business name” – if no business name on Schedule C, then enter your own name.
   • “6-digit NAICS code” – line B on your Schedule C
   • “Purpose of Loan” – “Payroll Costs”. If you want you can choose other ones in addition.
   • “What’s your job title?”  “Owner” is good.

Businesses with Payroll

1. ID for every 20%+ Owner
   (License or Passport)
2. Proof of operation prior to 02/15/2020
   Bank statement (02/2020) OR invoice (02/2020) OR 941 Q1 2020
3. Most recent bank statement
   Should be the same bank account as a voided check
4. W3 OR 940/941
5. Payroll report OR W2s for all employees
   (to check for employees over $100k salary)
6. Voided check
   (blank check with “VOID” written on it)
   If you don’t have a check: Upload either a bank letterhead showing your routing and account numbers (e.g. prefilled deposit slip) or a screenshot of your online account showing your routing and account numbers, bank name, and applicant’s name.
7. Articles of Incorporation
   If you don’t have access to it, a printout from your state’s website should suffice.
8. Optional – will raise your PPP amount
   • Proof of any benefits paid to employees
     Only if you are claiming benefits as well (e.g. health/life insurance, retirement contributions or housing allowance)
   • Proof of State Unemployment Taxes
     E.g. NYS-45

Second Draw PPP

• You will need your First Draw loan number. If you can’t find it, try searching here.
• If your loan amount is over $150k, then you should also provide proof of your 25% reduction.

If you recently received First Draw PPP, our loan officer suggested waiting 4 weeks after receiving First Draw funds before applying for Second Draw. After you apply you can ask the loan officer to hold off sending you the funds for a few weeks to avoid any potential forgiveness issues.