How to Ensure Your PPP Application is Automatically Reviewed
BlueVine is working around the clock to quickly and diligently process PPP loan applications.
Using the strength of our technology-enabled product, many of our applications can be reviewed automatically. If you would like an efficient review of your application, please be sure to follow these steps:
- Upload the correct documents. Our system can automatically process some documents but not all documents. The documents that can automatically be reviewed are 941, 940, 944, 1120- S, Schedule C, and ADP Payroll documentation with a corresponding letter from the payroll processor. Anything else that is submitted to us will need to be manually reviewed, which can take longer.
- Small businesses with employees: Upload quarterly 941 forms or yearly 940 or 944 forms, or "CARES SBA-PPP" document from your payroll provider. The 941 quarterly tax return is the preferred document and is used to report the federal withholdings from most types of employees. It notifies the IRS of a number of important figures, like the employment taxes taken from employee pay and the amount owed to the IRS. Alternatively, you can provide your 2019 corporate tax return.
- Contractors & Other Not Employers: Upload your 2019 1040 - Schedule C form. If you have not yet submitted your 1040 - you can provide a draft copy. Simply complete all required fields and upload the same file you would normally submit directly to the IRS.
- Upload clear documents. Typed, downloaded, or scanned documents are much easier to process automatically than photos of documents or handwritten forms. Upload your forms as separate documents, if possible. If more than 4 forms are needed, you may consolidate them into a single file.
- Submit a complete application. The fastest way for BlueVine to review your application is if it is complete. Some applications are missing information and/or require further documents and BlueVine will need to determine what documentation is missing and then contact the business owner. The most common things that are missing or inaccurate in an application include:
- Consistent Employer Identification Number (EIN)/ Business Name in Payroll documents
- Complete personal details (SSN / DOB / Address)
- Accurate bank account information (look at your accounts check to get the correct routing number)
- Only submit one application. Do not submit your application more than once to BlueVine if your application is still under review. Multiple applications will take resources away from your original application or other small businesses.
- Try to limit inquiries about the status of your application. Our customer support team is handling a substantial number of phone and email inquiries every day, while also balancing the review of applications. Your dashboard will always have the most up-to-date status of your application.