Exhibit 79 — USA v. McCabe (Dkt. 91.60)

Record facts

U.S. District Court for the Southern District of Florida · No. 9:24-cr-80103-AMC · Doc. 91-60 · 2025-03-10 · Docket on CourtListener

Full text

From:
Florida Scuba Charters
To:
Josh Steib
Subject:
[External] Fwd: UPDATED - Your SBA Loan Application
Date:
Friday, April 3, 2020 2:53:25 PM
Attachments:
Borrower-Paycheck-Protection-Program-Application-v1-033120.pdf
SBA Loan - CARES Act Calulation Sheet.xlsx
PPP-Borrower-Information-Fact-Sheet-033120.pdf
---------- Forwarded message ---------
From: Brant Frost V <bfrost5@firstlibertyga.com>
Date: Fri, Apr 3, 2020, 10:56 AM
Subject: UPDATED - Your SBA Loan Application
To: 
Thanks for applying.
Here is what we need to process your application. 
SBA PPP Underwriting Requirements
1. Proof that the Borrower was in Operation 2/15/20: The best way to do this is the first page
of your business tax return (which should have a box showing the day that the business
started). You can also use a copy your business license.
2. Proof that the Borrower had Employees 2/15/20: (Payroll Records)
3. Average Monthly Cost of Employees  (use the calculation sheet to determine how much)
Total Payroll costs include:
1.
Salary, wages (NOT including 1099s), commissions, or tips (capped at
$100,000 on an annualized basis for each employee);
2.
Employee benefits including costs for vacation, parental, family, medical,
or sick leave; allowance for separation or dismissal; payments required for the
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 1 of 12
24-CR-80103-AMC
GX79

provisions of group health care benefits including insurance premiums; and
payment of any retirement benefit;
3.
State and local taxes assessed on compensation; and
4.
For a sole proprietor or independent contractor: wages, commissions,
income, or net earnings from self-employment, capped at $100,000 on an
annualized basis for each employee.
4. Fill Out the Borrower Paycheck Protection Program Application (Attached)
Brant Frost V
First Liberty Building and Loan
14 Greenville St
Newnan, GA, 30263
678-326-9705
bfrost5@firstlibertyga.com
FirstLiberyGA.com
Facebook.com/firstlibertyga
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 2 of 12

Paycheck Protection Program 
Application Form 
OMB Control No.: 3245- 
Expiration Date: 06/30/2020 
1 
SBA Form 2483 (03/20) 
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Non-Profit ☐  Vet Org ☐  Tribal ☐  Ind. Cont. ☐ Self Employed ☐
DBA or Tradename if applicable 
Business Legal Name 
Business Primary Address 
Business TIN (EIN,SSN) 
Business Phone 
(     )  
 - 
Primary Contact 
Email Address 
Average Monthly Payroll: 
$ 
 X 2.5 equals Loan Amount: 
$ 
 Number of Jobs: 
Purpose of the loan 
(select more than one): 
☐Payroll ☐Rent / Mortgage Interest ☐Utilities ☐Other (explain):__________________
Applicant Ownership 
List all owners of Applicant with greater than 20% ownership stakes. Attach a separate sheet if necessary. 
Owner Name 
Title 
Ownership % 
TIN (EIN,SSN) 
Address 
If questions (1) or (2) below are answered “Yes,” the loan will not be approved. 
Question 
Yes 
No 
1.
Is the Business or any owner presently suspended, debarred, proposed for debarment, declared ineligible, voluntarily excluded
from participation in this transaction by any Federal department or agency, or presently involved in any bankruptcy?
2.
Has the Business, any of its owners, or any business owned or controlled by any of them, ever obtained a direct or guaranteed
loan from SBA or any other Federal agency that is currently delinquent or has defaulted in the last 7 years and caused a loss to
the government?
3.
Is the Business or any owner an owner of any other business or have common management with any other business? If yes,
attach a listing of all Affiliates and describe the relationship as addendum A.
4.
Has the Business received an SBA Economic Injury Disaster Loan between January 31, 2020 and April 3, 2020? If yes,
provide details on a separate sheet identified as addendum B.
 
Applicants who are individuals and all 20% or greater owners of the business must answer the following questions.  If 
questions (5) or (6) are answered “Yes” or question (7) is answered “No”, the loan will not be approved. 
Question 
Yes 
No 
5.
Are you presently subject to an indictment, criminal information, arraignment, or other means by
which formal criminal charges are brought in any jurisdiction, or presently incarcerated, on probation
or parole?
Initial here to confirm your response to question 5 → 
6.
Within the last 7 years, for any felony or misdemeanor for a crime against a minor, have you: 1) been
convicted; 2) pleaded guilty; 3) pleaded nolo contendere; 4) been placed on pretrial diversion; or 5) been
placed on any form of parole or probation (including probation before judgment)?
Initial here to confirm your response to question 6 →  
7.
☐ I am a U.S. Citizen   OR    ☐ I have Lawful Permanent Resident status
☐No
Initial here to confirm your response to question 7 → 
 676
$99
Ď
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 3 of 12

Paycheck Protection Program 
Application Form 
OMB Control No.: 3245- 
Expiration Date: 06/30/2020 
2 
SBA Form 2483 (03/20) 
By Signing Below, You Make the Following Representations, Authorizations, and Certifications 
REPRESENTATIONS AND AUTHORIZATIONS 
I represent that: 

I have read the Statements Required by Law and Executive Order included in this form, and I understand them.

I will comply, whenever applicable, with the civil rights and other limitations in this form.

All SBA loan proceeds will be used only for business related purposes as specified in the loan application.

To the extent feasible, I will purchase only American-made equipment and products.

The Applicant is not engaged in any activity that is illegal under federal, state or local law.
For Applicants who are individuals and all Associates:  I authorize the SBA to request criminal record information about me from criminal justice 
agencies for the purpose of determining my eligibility for programs authorized by the Small Business Act, as amended. 
CERTIFICATIONS 
The Business and each 20% or greater owner must certify in good faith to all of the below by initialing next to each one:  
_____ 
Current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant. 
_____ 
The funds will be used to retain workers and maintain payroll or make mortgage payments, lease payments, and utility payments; I 
understand that if the funds are used for unauthorized purposes, the federal government may pursue criminal fraud charges. 
_____ 
Documentation verifying the number of full-time equivalent employees on payroll as well as the dollar amounts of payroll costs, covered 
mortgage interest payments, covered rent payments, and covered utilities for the eight week period following this loan will be provided 
to the lender.   
_____ 
Loan forgiveness will be provided for the sum of documented payroll costs, covered mortgage interest payments, covered rent payments, 
and covered utilities.  Due to likely high subscription, it is anticipated that not more than twenty-five percent (25%) of the forgiven 
amount may be for non-payroll costs. 
_____ 
During the period beginning on February 15, 2020 and ending on December 31, 2020, the Applicant has not and will not receive another 
loan under this program. 
_____ 
I further certify that the information provided in this application and the information that I have provided in all supporting 
documents and forms is true and accurate. I realize that knowingly making a false statement to obtain a guaranteed loan from SBA is 
punishable under 18 USC 1001 and 3571 by imprisonment of not more than five years and/or a fine of up to $250,000; under 15 USC 
645 by imprisonment of not more than two years and/or a fine of not more than $5,000; and, if submitted to a Federally insured 
institution, under 18 USC 1014 by imprisonment of not more than thirty years and/or a fine of not more than $1,000,000. 
_____ 
I acknowledge that the lender will calculate the eligible loan amount using tax documents I have submitted. I affirm that these 
tax documents are identical to those I submitted to the IRS.  I also understand, acknowledge and agree that the Lender can share 
the tax information with SBA's authorized representatives, including authorized representatives of the SBA Office of Inspector 
General, for the purpose of compliance with SBA Loan Program Requirements and all SBA reviews. 
_________________________________________________________ 
________________________ 
Signature of Authorized Representative of Business  
Date 
Print Name 
  Title 
________________________________________________________ 
________________________ 
Signature of Owner of Applicant Business 
Date 
Print Name 
  Title 
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 4 of 12

Paycheck Protection Program 
Application Form 
OMB Control No.: 3245- 
Expiration Date: 06/30/2020 
3 
SBA Form 2483 (03/20) 
Purpose of this form: 
This form is to be completed by the Applicant and all individuals identified below and submitted to your SBA Participating Lender. 
Submission of the requested information is required to make a determination regarding eligibility for financial assistance. Failure to submit the 
information would affect that determination. 
Instructions for completing this form: 
For purposes of calculating “Average Monthly Payroll”, most Applicants will use the average monthly payroll for 2019, excluding costs over 
$100,000 on an annualized basis for each employee.  For seasonal businesses, the Applicant may elect to instead use average monthly payroll 
for the time period between February 15, 2019 and June 30, 2019, excluding costs over $100,000 on an annualized basis for each employee.  
For new businesses, average monthly payroll may be calculated using the time period from January 1, 2020 to February 29, 2020, excluding 
costs over $100,000 on an annualized basis for each employee.  
The first section and questions 1-4 request information about the Business. Questions 5-7 are to be completed, signed and dated by each 
applicant who is an Individual as well as each 20% or greater owner of an Applicant Business. All parties listed below are considered owners of 
the Applicant Business as defined in 13 CFR § 120.10, as well as “principals.” 
For a sole proprietorship, the sole  proprietor;
For a partnership, all general partners, and all limited partners owning 20% or more of the equity of the firm;
For a corporation, all owners of 20% or more of the corporation;
For limited liability companies, all members owning 20% or more of the company; and
Any Trustor (if the Applicant is owned by a  trust).
Paperwork Reduction Act – You are not required to respond to this collection of information unless it displays a currently valid OMB 
Control Number. The estimated time for completing this application, including gathering data needed, is 8 minutes.  Comments about this time 
or the information requested should be sent to : Small  Business Administration, Director, Records Management Division, 409 3rd St., SW, 
Washington DC 20416., and/or SBA Desk Officer, Office of Management and Budget, New Executive Office Building, Washington DC 
20503. 
Privacy Act (5 U.S.C. 552a) – Under the provisions of the Privacy Act, you are not required to provide your social security number. Failure to 
provide your social security number may not affect any right, benefit or privilege to which you are entitled. (But see Debt Collection Notice 
regarding taxpayer identification number below). Disclosures of name and other personal identifiers are required to provide SBA with 
sufficient information to make a character determination.  When evaluating character, SBA considers the person’s integrity, candor, and 
disposition toward criminal actions. Additionally, SBA is specifically authorized to verify your criminal history, or lack thereof, pursuant to 
section 7(a)(1)(B), 15 USC Section 636(a)(1)(B) of the Small Business Act (the Act).    
Disclosure of Information: Requests for information about another party may be denied unless SBA has the written permission of the 
individual to release the information to the requestor or unless the information is subject to disclosure under the Freedom of Information Act. 
The Privacy Act authorizes SBA to make certain “routine uses” of information protected by that Act. One such routine use is the disclosure of 
information maintained in SBA’s system of records when this information indicates a violation or potential violation of law, whether civil, 
criminal, or administrative in nature. Specifically, SBA may refer the information to the appropriate agency, whether Federal, State, local or 
foreign, charged with responsibility for, or otherwise involved in investigation, prosecution, enforcement or prevention of such violations. 
Another routine use is disclosure to other Federal agencies conducting background checks but only to the extent the information is relevant to 
the requesting agencies' function. See, 74 F.R. 14890 (2009), and as amended from time to time for additional background and other routine 
uses. In addition, the CARES Act, requires SBA to register every loan made under the Paycheck Protection Act using the Taxpayer 
Identification Number (TIN) assigned to the borrower.  
Debt Collection Act of 1982, Deficit Reduction Act of 1984 (31 U.S.C. 3701 et seq. and other titles) – SBA must obtain your taxpayer 
identification number when you apply for a loan. If you receive a loan, and do not make payments as they come due, SBA may: (1) report the 
status of your  loan(s) to credit bureaus, (2) hire a collection agency to collect your loan, (3) offset your income tax refund or other amounts 
due to you from the Federal Government, (4) suspend or debar you or your company from doing business with the Federal Government, (5) 
refer your loan to the Department of Justice, or (6) foreclose on collateral or take other action permitted in the loan instruments. 
Right to Financial Privacy Act of 1978 (12 U.S.C. 3401) – The Right to Financial Privacy Act of 1978, grants  SBA access rights to 
financial records held by financial institutions that are or have been doing business with you or your business including any financial 
institutions participating in a loan or loan guaranty. SBA is only required provide a certificate of its compliance with the Act to a financial 
institution in connection with its first request for access to your financial records. SBA's access rights continue for the term of any approved 
loan guaranty agreement. SBA is also authorized to transfer to another Government authority any financial records concerning an approved 
loan or loan guarantee, as necessary to process, service or foreclose on a loan guaranty or collect on a defaulted loan guaranty. 
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 5 of 12

Paycheck Protection Program 
Application Form 
OMB Control No.: 3245- 
Expiration Date: 06/30/2020 
4 
SBA Form 2483 (03/20) 
Freedom of Information Act (5 U.S.C. 552) – Subject to certain exceptions, SBA must supply information reflected in agency files and 
records to a person requesting it. Information about approved loans that will be automatically released includes, among other things, statistics 
on our loan programs (individual borrowers are not identified in the statistics) and other information such as the names of the borrowers (and 
their officers, directors, stockholders or partners), the collateral pledged to secure the loan, the amount of the loan, its purpose in general terms
and the maturity. Proprietary data on a borrower would not routinely be made available to third parties. All requests under this Act are to be 
addressed to the nearest SBA office and be identified as a Freedom of Information request. 
Occupational Safety and Health Act (15 U.S.C. 651 et seq.) – The Occupational Safety and Health Administration (OSHA) can require 
businesses to modify facilities and procedures to protect employees. Businesses that do not comply may be fined, forced to cease operations, 
or prevented from starting operations. Signing this form is certification that the applicant, to the best of its knowledge, is in compliance with 
the applicable OSHA requirements, and will remain in compliance during the life of the loan. 
Civil Rights(13 C.F.R. 112, 113, 117) – All businesses receiving SBA financial assistance must agree not to discriminate in any business 
practice, including employment practices and services to the public on the basis of categories cited in 13 C.F.R., Parts 112, 113, and 117 of 
SBA Regulations. All borrowers must display the "Equal Employment Opportunity Poster" prescribed by SBA. 
Equal Credit Opportunity Act (15 U.S.C. 1691) – Creditors are prohibited from discriminating against credit applicants on the basis of race, 
color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into a binding contract); because all 
or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right 
under the Consumer Credit Protection Act. 
Debarment and Suspension Executive Order 12549; (2 CFR Part 180 and Part 2700) – By submitting this loan application, you certify 
that neither you nor any Associates have within the past three years been: (a) debarred, suspended, declared ineligible  or voluntarily excluded 
from participation in a transaction by any Federal Agency; (b) formally proposed for debarment, with a final determination still pending; (c) 
indicted, convicted, or had a civil judgment rendered against you for any of the offenses listed in the regulations or (d) delinquent on any 
amounts owed to the U.S. Government or its instrumentalities as of the date of execution of this certification. 
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 6 of 12

 Last 12 Months   Average Monthly 
Maximium Loan Amount:
  Payroll Costs:*
    Salaries, wages, commissions, vacation and sick pay (not to exceed $100K
      per employee) other than qualified sick or family leave
1,500,000
$     
125,000
$         
    Group Health Insurance
85,000
             
7,083
                
    Retirement Benefit Costs
50,000
             
4,167
                
    State/Local Taxes on Employee Compensation (i.e., employer U.C. tax)
6,000
               
500
 
    Self‐Employed Income (and subcontractors) not to exceed $100K per year
      per self‐employed prorated for the period February 15, 2020 to June 30, 2020
200,000
           
16,667
              
153,417
            
2.5
 
Subtotal
a)
383,542
$
 
MAXIMUM LOAN AMOUNT [Lesser of a) or $10 million]
b)
383,542
$         
Allowable Uses of Funds During the Period February 15, 2020 to June 30, 2020:
1) Payroll costs (defined above)
2) Health care benefits (including group health insurance)
3) Interest on mortgages (not principal)
4) Rent (including rent under a lease agreement)
5) Utilities
6) Interest on any other debt obligations that were incurred before the covered period (February 15, 2020).
Costs Incurred During the "Covered" Period (8 weeks following loan origination):
Payroll Costs (defined above)
310,000
$         
Earnings from Self‐Employment (if applicable)
30,000
$            
Rent
45,000
              
Utiltities
15,000
              
6,000 
 Tentative Loan Forgiveness (before required reductions) 
 $         406,000 
 LESS:  Required Reductions in Loan Forgiveness: 
             Number of Employees: 
             Monthly Average Full Time Equivalent ("FTE") Employees for the  
               Covered Period (8 weeks following origination of the covered loan)**
32 
             Lesser of (at borrower's choice): 
                Monthly Average FTE's for the period February 15 to June 30, 2019 
41
              
               Monthly Average FTE's for the period January 1 to February 29, 2020**
38
              
38 
             % Reduction 
15.79%
(64,105)
            
            Compensation Reduction:
            Individual Employee Compensation Reduction in Excess of 25%
               Compared to the Most Recent Full Quarter Before Origination of Loan***
(30,000)
            
            Tentative Loan Forgiveness
c)
311,895
$
 
TOTAL LOAN FORGIVENESS [lesser of b) or c) above]
d)
311,895
$         
BALANCE OF LOAN NOT FORGIVEN (if any)
71,647
$           
 NOTE:  Yellow highlighted cells represent variables that should be completed with final client data. Filled in amounts are for 
illustation purposes only. 
 Interest on Covered Mortgages (on real or personal property)  
Paycheck Protection Program
 **  A reduction in FTE's  between February 15th and April 27th, 2020 is disregarded if the reduction is eliminated by June 30, 2020 for purposes of the 
reduction in number of employees and/or compensation. 
* For seasonal businesses, use the costs incurred during the period February 15, 2019 or, at the election of borrower, March 1 to June, 30, 2019. 
 *** Compensation Reduction does not apply to any employee who, during any pay period in 2019, wages or salary at an annualized rate of pay in an 
amount of more than $100,000.  
Represents the maximum amount a qualifed borrower may have forgiven.
SMALL BUSINESS INTERRUPTION LOANS
Estimated Maximum Loan Availability and Forgiveness Amount
Maximum Loan Amount  
Loan Forgiveness Amount
Represents the maximum amount a qualified borrower may apply for.
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 7 of 12

rev 3/28/20
The SBA loans under Section 1102 of the CARES Act (sometimes referred to as "7(a) Loans") which are eligble for forgiveness
are available to employers with less than 500 employees.  Such loans will be handled through the client's lender (bank) and
guaranteed 100% by the SBA.  These are non‐recourse loans.
Banks will need the following financial information in order to process the SBA loan application:
Copies of payroll tax reports file with the IRS (including Forms 941, 940, state income and unemployment 
tax filing reports) for the entire year of 2019 and first quarter of 2020 (if available) should be presented. 
Copies of payroll reports for each pay period for the preceding 12 months.  Such reports should include
gross wages including PTO (which might include vacation, sick, and other PTO).  This includes payroll 
reports through the pay period preceding the origination of the SBA loan.
Documentation reflecting the health insurance premiums paid by the company under a group health plan
including owners of the company for the immediately preceding 12 months prior to the date of the SBA 
loan origination.  Copies of the monthly invoices should suffice. 
Documentation of all retirement plan funding by the employer for the immediately preceeding 12 months.
Copies of workpapers, schedules and remittances to the retirement plan administrator should be sufficient.
Copies of payroll tax reports file with the IRS (including Forms 941, 940, state income and unemployment 
tax filing reports) for the the 8 week period following the original of the loan.  
Copies of payroll reports for each pay period for the 8 week period following the origination of the loan.  
Gross wages including PTO (which might include vacation, sick, and other PTO) should be reflected.   
Documentation reflecting the health insurance premiums paid by the company under a group health plan
including owners of the company for the 8 week period following the origination of the loan should be  
provided.  Copies of the monthly invoices should suffice. 
Documentation of all retirement plan funding by the employer for the 8 weeks following the origination of 
loan should be sufficent.  Copies of workpapers, schedules and remittances to the retirement plan
administrator should be available.  
Copies of all lease agreements for real estate and tangible personal property should be presented along with
proof of payment during the 8 week period followiing the loan origination date. 
Copies of all statement of interest paid on debt obligations incurred prior to February 15, 2020 indicating
payment amounts and proof of payment for the 8 week period following the loan origination date.
Copies of cancelled checks, statements or other evidence of utilities paid during the "covered period" for the
8 week period following the loan origination date.
Each lender may require more or less information.  In addition, each borrower will need to make a certification that the
documentation is true and correct, the amount for which forgiveness is being requested was used to make payments to
retain employees and to make interest payments on covered mortgage obligations, covered rent obligations and covered
utility payments.  In addition, the SBA may request further information.  There will be NO forgiveness of the documentation
is not presented. The SBA will render a decision within 60 days after recipt of an application for forgiveness.  The amount of 
any loan forgiveness under this program is NOT taxable income. 
FINANCIAL DATA NEEDED ‐ 7(a) SBA LOAN AND FORGIVENESS UNDER THE CARES ACT
Checklist of Documentation Required
IMPORTANT NOTES:
7)
1)
2)
3)
4)
5)
6)
This information will be needed to present to the bank to apply for the loan:
This information will be needed to present to the bank or SBA for Loan Forgiveness: 
1)
2)
3)
4)
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 8 of 12

PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET: 
BORROWERS  
The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to 
small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the 
same for everyone. 
The loan amounts will be forgiven as long as: 

The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and
utility costs over the 8 week period after the loan is made; and

Employee and compensation levels are maintained.
Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely 
high subscription, it is anticipated that not more than 25% of the forgiven amount may be for 
non-payroll costs. 
Loan payments will be deferred for 6 months.  
When can I apply?  

Starting April 3, 2020, small businesses and sole proprietorships can apply for and
receive loans to cover their payroll and other certain expenses through existing SBA
lenders.

Starting April 10, 2020, independent contractors and self-employed individuals can
apply for and receive loans to cover their payroll and other certain expenses through
existing SBA lenders.

Other regulated lenders will be available to make these loans as soon as they are
approved and enrolled in the program.
Where can I apply? You can apply through any existing SBA lender or through any federally 
insured depository institution, federally insured credit union, and Farm Credit System institution 
that is participating. Other regulated lenders will be available to make these loans once they are 
approved and enrolled in the program. You should consult with your local lender as to whether it 
is participating. Visit www.sba.gov for a list of SBA lenders.  
Who can apply? All businesses – including nonprofits, veterans organizations, Tribal business 
concerns, sole proprietorships, self-employed individuals, and independent contractors – with 
500 or fewer employees can apply. Businesses in certain industries can have more than 500 
employees if they meet applicable SBA employee-based size standards for those industries (click 
HERE for additional detail).  
For this program, the SBA’s affiliation standards are waived for small businesses (1) in the hotel 
and food services industries (click HERE for NAICS code 72 to confirm); or (2) that are 
franchises in the SBA’s Franchise Directory (click HERE to check); or (3) that receive financial 
assistance from small business investment companies licensed by the SBA. Additional guidance 
may be released as appropriate.  
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 9 of 12

What do I need to apply?  You will need to complete the Paycheck Protection Program loan 
application and submit the application with the required documentation to an approved lender 
that is available to process your application by June 30, 2020. Click HERE for the application. 
What other documents will I need to include in my application? You will need to provide 
your lender with payroll documentation. 
Do I need to first look for other funds before applying to this program? No. We are waiving 
the usual SBA requirement that you try to obtain some or all of the loan funds from other sources 
(i.e., we are waiving the Credit Elsewhere requirement). 
How long will this program last? Although the program is open until June 30, 2020, we 
encourage you to apply as quickly as you can because there is a funding cap and lenders need 
time to process your loan.  
How many loans can I take out under this program? Only one.    
What can I use these loans for? You should use the proceeds from these loans on your: 

Payroll costs, including benefits;

Interest on mortgage obligations, incurred before February 15, 2020;

Rent, under lease agreements in force before February 15, 2020; and

Utilities, for which service began before February 15, 2020.
What counts as payroll costs? Payroll costs include: 

Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each
employee);

Employee benefits including costs for vacation, parental, family, medical, or sick leave;
allowance for separation or dismissal; payments required for the provisions of group
health care benefits including insurance premiums; and payment of any retirement
benefit;

State and local taxes assessed on compensation; and

For a sole proprietor or independent contractor: wages, commissions, income, or net
earnings from self-employment, capped at $100,000 on an annualized basis for each
employee.
How large can my loan be?  Loans can be for up to two months of your average monthly 
payroll costs from the last year plus an additional 25% of that amount. That amount is subject to 
a $10 million cap. If you are a seasonal or new business, you will use different applicable time 
periods for your calculation. Payroll costs will be capped at $100,000 annualized for each 
employee.  
How much of my loan will be forgiven? You will owe money when your loan is due if you use 
the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities 
payments over the 8 weeks after getting the loan. Due to likely high subscription, it is anticipated 
that not more than 25% of the forgiven amount may be for non-payroll costs.    
You will also owe money if you do not maintain your staff and payroll. 
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 10 of
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
Number of Staff: Your loan forgiveness will be reduced if you decrease your full-time
employee headcount.

Level of Payroll: Your loan forgiveness will also be reduced if you decrease salaries and
wages by more than 25% for any employee that made less than $100,000 annualized in
2019.

Re-Hiring: You have until June 30, 2020 to restore your full-time employment and
salary levels for any changes made between February 15, 2020 and April 26, 2020.
How can I request loan forgiveness? You can submit a request to the lender that is servicing 
the loan. The request will include documents that verify the number of full-time equivalent 
employees and pay rates, as well as the payments on eligible mortgage, lease, and utility 
obligations. You must certify that the documents are true and that you used the forgiveness 
amount to keep employees and make eligible mortgage interest, rent, and utility payments. The 
lender must make a decision on the forgiveness within 60 days.  
What is my interest rate? 0.50% fixed rate. 
When do I need to start paying interest on my loan? All payments are deferred for 6 months; 
however, interest will continue to accrue over this period. 
When is my loan due? In 2 years. 
Can I pay my loan earlier than 2 years? Yes. There are no prepayment penalties or fees. 
Do I need to pledge any collateral for these loans? No. No collateral is required.  
Do I need to personally guarantee this loan? No. There is no personal guarantee requirement. 
***However, if the proceeds are used for fraudulent purposes, the U.S. government will pursue 
criminal charges against you.***  
What do I need to certify? As part of your application, you need to certify in good faith that:  

Current economic uncertainty makes the loan necessary to support your ongoing
operations.

The funds will be used to retain workers and maintain payroll or to make mortgage,
lease, and utility payments.

You have not and will not receive another loan under this program.

You will provide to the lender documentation that verifies the number of full-time
equivalent employees on payroll and the dollar amounts of payroll costs, covered
mortgage interest payments, covered rent payments, and covered utilities for the eight
weeks after getting this loan.

Loan forgiveness will be provided for the sum of documented payroll costs, covered
mortgage interest payments, covered rent payments, and covered utilities.  Due to likely
high subscription, it is anticipated that not more than 25% of the forgiven amount may
be for non-payroll costs.

All the information you provided in your application and in all supporting documents
and forms is true and accurate. Knowingly making a false statement to get a loan under
this program is punishable by law.
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 11 of
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
You acknowledge that the lender will calculate the eligible loan amount using the tax
documents you submitted. You affirm that the tax documents are identical to those you
submitted to the IRS.  And you also understand, acknowledge, and agree that the lender
can share the tax information with the SBA’s authorized representatives, including
authorized representatives of the SBA Office of Inspector General, for the purpose of
compliance with SBA Loan Program Requirements and all SBA reviews.
Case 9:24-cr-80103-AMC   Document 91-60   Entered on FLSD Docket 03/10/2025   Page 12 of
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