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This site is hosted by ChoiceOne Bank for our friends at Lakestone Bank and Trust.
All data is restricted to Lakestone Bank and Trust.
Who is ChoiceOne? Lakestone Bank & Trust will become ChoiceOne Bank in May 2020 – its nice to meet you!

 

Paycheck Protection Program Loan File Submission

Due to the volume of requests, this Paycheck Protection Program Loan (PPP Loan) upload portal is exclusively for Lakestone Bank business customers. Applications from non-customers will be placed on a waiting list.

What Do Borrowers Need to Know and Do? Frequently Asked Questions fact sheet for borrowers
 

Please read all instructions before proceeding:

Step 1. Complete all Application Documents
Step 2. Complete either Small Business or Independent Contractor/Sole Proprietor Documents
Step 3. Upload and submit documents
 

Application Documents – All Customers

1. Signed PPP applicationDownload UPDATED blank PPP application

This document is directly from the SBA and is required to begin the PPP Loan Application Process.

Do not have the ability to print and sign? Contact your lender for eSign options.
Please name your file: your-business-name-ppp-application.pdf
 

2. Completed PPP Intake form
Please complete the highlighted fields.

Small Business: Download blank Small Business PPP Intake form
or
Independent Contractor/Sole Proprietor: Download blank Independent Contractor/Sole Proprietor PPP Intake form
Please name your file: your-business-name-ppp-intake.xlsx
 

3. Completed PPP Loan Calculation FormDownload blank PPP Loan Calculation Form
This document calculates the amount of your loan request.
Please name your file: your-business-name-ppp-calculation.xlsx
 

 

Supporting Documentation for Small Businesses

Only include supporting documentation if used to calculate loan amount.
 

4. Payroll Tax Reports
Completed Payroll Tax reports filed (Forms 941, 940, State income & unemployment tax filing reports) for all of 2019 and 1st Qtr 2020 (if applicable).
Please name your file: your-business-name-payroll-tax.pdf
 

5. Payroll Reports
Copies of payroll reports for YTD 2019 ( or applicable time-frame per the instructions). Such reports should include gross wages including PTO (which might include vacation, sick, and other PTO). Please reconcile this (show your work) to the calculation including limiting compensation for employees over $100k.
Please name your file: your-business-name-payroll-report.pdf
 

6. Health Insurance Premiums Report
Documentation reflecting the health insurance premiums paid by the company under a group health plan including owners of the company for 2019. Copies of the monthly invoice are sufficient. ONLY INCLUDE IF YOU ARE USING THIS IN THE LOAN CALCULATION.
Please name your file: your-business-name-health-insurance.pdf
 

7. Retirement Plan Funding Report
Documentation of all retirement plan funding by the employer for 2019. Copies of workpapers, schedules and remittances to the retirement plan administrator is sufficient. ONLY INCLUDE IF YOU ARE USING THIS IN THE LOAN CALCULATION.
Please name your file: your-business-name-retirement-plan.pdf
 

8. Additional Documents

These additional documents may be required if applicant has not requested a loan from the bank since March 2018:

  • Operating Agreements
  • By Law Documentation
  • Partnership Agreements
  • Beneficial Ownership Form
  • Drivers Licenses from Signors on the Beneficial Ownership Form

 

Supporting Documentation for Non-Profits

Only include supporting documentation if used to calculate loan amount.
 

4. Board Resolution Authorizing the PPP Loan
Documentation of a Board Resolution authorizing the PPP Loan and who will be the signors on the loan.
Please name your file: your-business-name-board-resolution.pdf
 

5. Payroll Tax Reports
Completed Payroll Tax reports filed (Forms 941, 940, State income & unemployment tax filing reports) for all of 2019 and 1st Qtr 2020 (if applicable).
Please name your file: your-business-name-payroll-tax.pdf
 

6. Payroll Reports
Copies of payroll reports for YTD 2019 ( or applicable time-frame per the instructions). Such reports should include gross wages including PTO (which might include vacation, sick, and other PTO). Please reconcile this (show your work) to the calculation including limiting compensation for employees over $100k.
Please name your file: your-business-name-payroll-report.pdf
 

7. Health Insurance Premiums Report
Documentation reflecting the health insurance premiums paid by the company under a group health plan including owners of the company for 2019. Copies of the monthly invoice are sufficient. ONLY INCLUDE IF YOU ARE USING THIS IN THE LOAN CALCULATION.
Please name your file: your-business-name-health-insurance.pdf
 

8. Retirement Plan Funding Report
Documentation of all retirement plan funding by the employer for 2019. Copies of workpapers, schedules and remittances to the retirement plan administrator is sufficient. ONLY INCLUDE IF YOU ARE USING THIS IN THE LOAN CALCULATION.
Please name your file: your-business-name-retirement-plan.pdf
 

9. Additional Documents

These additional documents may be required if applicant has not requested a loan from the bank since March 2018:

  • Operating Agreements
  • By Law Documentation
  • Partnership Agreements
  • Beneficial Ownership Form
  • Drivers Licenses from Signors on the Beneficial Ownership Form

 

Supporting Documentation for Independent Contractors & Sole Proprietors

This section is only for Independent Contractors and Sole Proprietors

Only include supporting documentation if used to calculate loan amount.

Independent Contractors: You are an Independent Contractor if you are issued 1099-MISC forms.

Sole Proprietors are small businesses without incorporation who report income and pay taxes on a Schedule C in your personal tax return. If your business is a C CORP (Inc.) OR S CORP (LLC), you are NOT a Sole Proprietor and must follow the rules for a small business.

Requirements:

  • If you are receiving unemployment – you are not eligible for a Paycheck Protection Program Loan (PPP). We highly recommend you consider which program is right for you before applying.
  • Sole Proprietor was operational as of February 15, 2020

 

4. 2019 1099-MISC for Independent Contractors ONLY
Must provide 1099-MISC documentation to support if YOU are an independent contractor. You will need to provide your 2019 tax return filed (or to be filed) as well as all forms 1099-MISC from 2019. Payments to independent contractors are not eligible for this program.

You may only claim up to $100,000. Provide this calculation in the PPP calculator available. ONLY INCLUDE IF YOU ARE USING THIS IN THE LOAN CALCULATION.
Please name your file: your-business-name-1099.pdf
 

5. 2019 Schedule C for Sole Proprietors ONLY
Your business income must be reported on a Schedule C on your personal tax return. Your salary will be determined by your net profit. If you were operational in 2019 and have filed your 2019 taxes, this will be reported on line 31 of your Schedule C.

You may only claim up to $100,000. Provide this calculation in the PPP calculator available. ONLY INCLUDE IF YOU ARE USING THIS IN THE LOAN CALCULATION.
Please name your file: your-business-name-Schedule-C.pdf

 

Prepare ALL Files before proceeding

 

Watch this video before uploading:

 

Steps to Properly Submit Files:

1. Gather ALL documents, Please read ALL instructions and follow carefully.
2. Find your lender. Don’t have a lender? Upload to the bank.
3. Drag & Drop ALL required files. Make sure to upload all your files at the same time.
4. Press Upload. Don’t miss this step! We won’t see your files unless you upload them to us.
5. Your lender will contact you with any questions.

 

We accept only the following file-types: pdf, xls, xlsx, csv, doc, docx, rtf
Zip files are not accepted.

Find your Lender:

 

Due to the volume of requests, this Paycheck Protection Program loan upload portal is exclusively for Lakestone Bank business customers. Applications from non-customers will be placed on a waiting list.
 

Don’t have a lender? Upload to Lakestone Bank and we will take care of it.

Upload to Lakestone Bank
 

 

This site is hosted by ChoiceOne Bank for our friends at Lakestone Bank and Trust. All data is restricted to Lakestone Bank and Trust.
Who is ChoiceOne? Lakestone Bank & Trust will become ChoiceOne Bank in May 2020 – its nice to meet you!

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What You Will Need Close Warning

Applying is fast and easy. Here’s what you’ll need to have ready:

  1. Your Social Security Number or Individual Tax Identification Number (ITIN)
  2. A US government-issued photo ID (e.g. Driver’s License, Passport, or State)
  3. A credit or debit card to fund your new account
  4. A valid email address

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial Banks to obtain, verify, and record information that identifies each person who opens an account.

What this means for you:
When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We must also ask to see your driver’s license or other identifying documents.

Online Applications are available for residents of our service area including Kent, Newaygo, Muskegon, Ottawa, Montcalm, Oceana, Osceola, Ionia, Mecosta, Lake, Allegan, and Barry Counties in Michigan.