PPP ROUND 2 IS HERE!
Aloha Valued Business Owner,
 
Many of you have been patiently waiting for us to send out an informational email concerning the 2nd Round PPP. We are riding along-side you, waiting for bank portals to open. Some banks have portals open, some don't ... and some of banks are so frustrated with ever-changing SBA rules, that they have temporarily closed their portals. This is why we have been hesitant to send an email out to you, offering services that may not be available for your bank. All banks are in agreement that they are only accepting applications if you have an account there.

All of this being said we are offering PPP2 loan application services for a fee of $1,000, but urge you to try it on your own. It isn't that hard. All payroll related documents can be obtained from Kuulei (if your payroll service is with us). We also have records of your organizational documents if you have provided them to us in the past. If you would like us to process it for you, contact your bank and get the exact page link to the application and confirm that their portal is open for your business type. Send that link page to us. We don't want to take any money from you if you bank isn't ready.
Who Qualifies?
FIRST DRAW
(this is your first PPP Loan)

  • Business entities (e.g., partnerships, corporations, LLCs)
  • Sole proprietors, independent contractors and self-employed individuals
  • 501(c)(3)
  • 501(c)(6)
  • 501(c)(19) Veterans organization
  • Tribal business, and
  • Housing cooperatives, destination marketing organizations, and eligible news organizations
SECOND DRAW
(you lost more than 25% income)

  • Was eligible for and previously received a PPP First Draw Loan;
  • Has or will use the full loan amount only for eligible expenses before the PPP Second Draw Loan is disbursed;
  • Has no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
How to Prepare for the Application

In addition to completing the online application at the website belonging to your business bank account, below is a preliminary list of documents that will likely be needed to process the PPP loan.

  • Articles of Incorporation/Organization of each borrowing entity

  • By Laws/Operating Agreement of each borrowing entity. If there are none, you may submit a Certification Regarding Organizational Documents form, in its place.

  • All owners’ Driver’s Licenses

  • Payroll Expense verification documents for 2019, 2020 or the last 12 months.
  • IRS Forms 940 and 941 (or equivalent payroll processor records)
  • State quarterly wage unemployment insurance tax reporting forms from each quarter (State of Hawaii Form UC-B6 or equivalent payroll processor records)
  • Evidence of any retirement and health insurance contributions
  • Payroll statement or similar documentation from the pay period covered February 1, 2020 to establish you were in operation on February 15, 2020
  • Relevant tax filings based on entity type

  • Certification that all employees live within the United States. If any do not, provide a detailed list with corresponding salaries of all employees outside the United States
STAY INFORMED

We have a TEAM OF ACCOUNTANTS and TAX PROFESSIONALS at our office ready to service your company!