Castellon Professional Services (CPS) Notice: Payroll Protection Program- First Bank SBA Lender

CPS is working with First Bank with branches in Northern and Southern California to process SBA Paycheck Protection Program (PPP) loans. First Bank is accepting and processing loan applications for depositors and non-depositors. My primary contact is Leticia Lopez, Branch Manager, in Southern California. Although not required to open an account with First Bank to process SBA PPP loan, encourage you to open an account and deposit funds directly to your First Bank account to facilitate the funding process. Follow this link to open an account:


https://firstbanks.com/personal/banking/products/checking.


See signature block below for Leticia’s contact information for assistance with opening an account.

ENTITIES WITH EMPLOYEES NOW ACCEPTING SBA PPP LOAN APPLICATIONS:

The following instructions are for non-seasonal entities with less than 500 employees on payroll:


  1. Complete the Eligibility Loan Sizing Worksheet

  2. NOTE: Only include employee payroll amounts as provided by your payroll provider, i.e., ADP PPP report. Sole proprietors and contractors must apply separately. See below.

  3. PPP Borrower Application Form

  4. Complete through the end of Page 1 and as your agent, I will complete Page 2

  5. Review New Borrower Documentation

  6. Provide documents under heading, “Documents Required to Verify Loan Amount Under PPP”

  7. Provide documents under heading, “Underwriting Documents Required”

i. Include copies of tax returns for tax year 2017 and 2018

  1. Also, if available, tax year 2019

ii. Include Know Your Client beneficial ownership information

  1. All owners of entity name, date of birth, nationality, residential address

  2. Statement of nature and extent of interest held

  3. Date became owner of entity

  4. CA State Secretary of State confirmation of Active/Good Standing

i. Provide copy of last Form SI filed and screen print of “Business Search – Entity Detail”

  1. https://businesssearch.sos.ca.gov/

  2. NOTE: If out-of-state entity, contact state secretary of state for similar confirmation documentation

  3. Click here to upload files.

I will review and advise of any follow-up questions or additional data request. If application and supporting documentation complete, application will be submitted for processing and you will be advised of next steps, i.e., signature of loan documentation.

SOLE PROPRIETORS and CONTRACTORS ACCEPTING SBA PPP LOAN APPLICATIONS STARTING APRIL 10, 2020:

The following instructions are for non-seasonal sole proprietors and contractors:

  1. Complete the Eligibility Loan Sizing Worksheet

  2. Enter your business name, address and tax ID

i. FEIN or SSN

  1. Consider yourself as employee of your business

  2. Enter draws or Form 1099 income as your salary

  3. Healthcare premiums

  4. Retirement contributions

  5. PPP Borrower Application Form

  6. Complete through the end of Page 1 and as your agent, I will complete Page 2

  7. Carryover 2.5x result from Eligibility Loan worksheet

i. Unless you have been approved for separate SBA loan, i.e., EIDL, only enter 2.5x amount.

  1. Review New Borrower Documentation

  2. Provide documents under heading, “Documents Required to Verify Loan Amount Under PPP”

  3. Provide documents under heading, “Underwriting Documents Required”

i. Include copies of tax returns for tax year 2017 and 2018

  1. Also, if available, tax year 2019

ii. Copy of Form 1099s received for tax year 2019

iii. Include Know Your Client beneficial ownership information

  1. All owners of entity name, date of birth, nationality, residential address

  2. Statement of nature and extent of interest held

  3. Date became owner of entity

  4. If your entity is incorporated, CA State Secretary of State confirmation of Active/Good Standing

i. If your company is registered with CA State,

  1. Provide copy of last Form SI filed and screen print of “Business Search – Entity Detail”

  2. https://businesssearch.sos.ca.gov/


ii. If not, Sch. C included with Form 1040 is all required

  1. NOTE: If out-of-state entity, contact state secretary of state for similar confirmation documentation

  2. Click here to upload files.

I will review and advise of any follow-up questions or additional data request. If application and supporting documentation complete, application will be submitted for processing April 10, 2020 and you will be advised of next steps, i.e., signature of loan documentation.

If you are a seasonal employer, sole proprietor or contractors, please contact myself for instructions.

As always, any questions or concerns feel free to contact myself at your convenience.

My Best,


Frank Mario Castellon, CPA, CGMA, MST

Castellon Professional Services

Office Locations:

71 Stevenson Street, Suite 400, San Francisco, CA 94105

2615 El Camino Real, Santa Clara, CA 95051

6265 Highway 9, Felton, 95018

Office No: 415-655-6626 | Cell No: 650-454-0253 | Fax No: 650-362-1872 | Email: mario@mcastellon.com | Website: www.mcastellon.com

And

Leticia Lopez Branch Manager / Assistant Vice President First Bank | 11010 Limonite Ave | Jurupa Valley, CA 91752 o: (951) 340-4200 | d: (951) 340-4205 | f: (951) 734-9036 internal: 41757 | mailcode: S1-468-468 leticia.lopez@fbol.com | firstbanks.com NMLS ID# 765037

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