Dear Client,

Please select the link below to view the latest regulations from the Treasury on the Paycheck Protection Program.

Contact us at 1-800-443-6357 if you have any questions.

Thank you. Stay safe and healthy!

PPP–IFRN FINAL

Dear Client,
We at OELS understand that these are challenging times for all of us and we would like to take this opportunity to make you aware of the Paycheck Protection Program (PPP)” that is sponsored by the SBA division United States Federal
Government.

We, at OELS, feel that this program is a very viable solutions during the economic downturn caused by COVID19. We also understand that there are complexities to the PPP and we would like to extend our assistance in preparing your
application as well as offer our services as your acting agent during the loan process.

Please read the following PPP overview as well as the standard SBA application, which may or may not change depending on your financial lending institution. In addition, we are enclosing a more detailed PPP information sheet to assist with any additional information that you require.

Please do not hesitate to reach out to us with any additional questions or concerns that you may have by sending an e-mail to mmerrell@oelspeo.com. Please put “PPP Data Request” in the subject line.

Small Business “Paycheck Protection” Loans
The most significant provision of the CARES Act for employers establishes new “paycheck protection” loans administered by the Small Business Administration (SBA) to help employers continue to cover payroll costs and other expenses during the COVID-19 crisis. The covered period for loans is February 15, 2020 through June 30, 2020.

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

Fully Forgiven
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will
charge small businesses any fees.

Must Keep Employees on the Payroll—or Rehire Quickly Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if fulltime headcount declines, or if salaries and wages decrease.

All Small Businesses Eligible
Small businesses with 500 or fewer employees—including nonprofits, veteran’s organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. Businesses with more than 500 employees are eligible in certain industries.

When to Apply Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.

How to Apply

You can apply through any existing SBA 7(a) 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. All loans will have the same terms regardless of lender or borrower. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov.

Common Lending Institution Data Requests (Subject to change depending on your lending financial institution)

2019 IRS Quarterly 940, 941 or 944 payroll tax reports (as a client of a PEO, you
do not have tax filings in your name and Fed ID, so we will be providing
equivalent reports on our company letterhead in lieu of a Form 941).

Last 12 months of Payroll Reports beginning with your last payroll date and going
backwards 12 months (e.g. gross wages for each employee, paid time off for
each employee, vacation pay for each employee)

1099s for 2019 for independent contractors that would otherwise be an employee of your business

Documentation showing total of all health insurance premiums paid by the Company Owner under a group health plan

Document the sum of all retirement plan funding that was paid by the Company Owner (do not include funding that came from the employee’s out of their paycheck deferrals)

Business owners may be asked to provide additional information and documents not listed above. We are awaiting additional details from the SBA related to expectations on lenders prior to funding.

The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Lenders should also visit www.sba.gov or www.coronavirus.gov for more information.

OELS PPP Borrower Information Fact Sheet (00320296)

OELS PPP Application

Dear Client,
We at OELS understand that these are challenging times for all of us and we would like to take this opportunity to make you aware of the Paycheck Protection Program (PPP)” that is sponsored by the SBA division United States Federal
Government.

We, at OELS, feel that this program is a very viable solutions during the economic downturn caused by COVID19. We also understand that there are complexities to the PPP and we would like to extend our assistance in preparing your
application as well as offer our services as your acting agent during the loan process.

Please read the following PPP overview as well as the standard SBA application, which may or may not change depending on your financial lending institution. In addition, we are enclosing a more detailed PPP information sheet to assist with any additional information that you require.

Please do not hesitate to reach out to us with any additional questions or concerns that you may have by sending an e-mail to mmerrell@oelspeo.com. Please put “PPP Data Request” in the subject line.

Small Business “Paycheck Protection” Loans
The most significant provision of the CARES Act for employers establishes new “paycheck protection” loans administered by the Small Business Administration (SBA) to help employers continue to cover payroll costs and other expenses during the COVID-19 crisis. The covered period for loans is February 15, 2020 through June 30, 2020.

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

Fully Forgiven
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will
charge small businesses any fees.

Must Keep Employees on the Payroll—or Rehire Quickly Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if fulltime headcount declines, or if salaries and wages decrease.

All Small Businesses Eligible
Small businesses with 500 or fewer employees—including nonprofits, veteran’s organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. Businesses with more than 500 employees are eligible in certain industries.

When to Apply Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.

How to Apply

You can apply through any existing SBA 7(a) 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. All loans will have the same terms regardless of lender or borrower. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov.

Common Lending Institution Data Requests (Subject to change depending on your lending financial institution)

2019 IRS Quarterly 940, 941 or 944 payroll tax reports (as a client of a PEO, you
do not have tax filings in your name and Fed ID, so we will be providing
equivalent reports on our company letterhead in lieu of a Form 941).

Last 12 months of Payroll Reports beginning with your last payroll date and going
backwards 12 months (e.g. gross wages for each employee, paid time off for
each employee, vacation pay for each employee)

1099s for 2019 for independent contractors that would otherwise be an employee of your business

Documentation showing total of all health insurance premiums paid by the Company Owner under a group health plan

Document the sum of all retirement plan funding that was paid by the Company Owner (do not include funding that came from the employee’s out of their paycheck deferrals)

Business owners may be asked to provide additional information and documents not listed above. We are awaiting additional details from the SBA related to expectations on lenders prior to funding.

The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Lenders should also visit www.sba.gov or www.coronavirus.gov for more information.

OELS PPP Borrower Information Fact Sheet (00320296)

OELS PPP Application

Dear Client,
We at OELS understand that these are challenging times for all of us and we would like to take this opportunity to make you aware of the Paycheck Protection Program (PPP)” that is sponsored by the SBA division United States Federal
Government.

We, at OELS, feel that this program is a very viable solutions during the economic downturn caused by COVID19. We also understand that there are complexities to the PPP and we would like to extend our assistance in preparing your
application as well as offer our services as your acting agent during the loan process.

Please read the following PPP overview as well as the standard SBA application, which may or may not change depending on your financial lending institution. In addition, we are enclosing a more detailed PPP information sheet to assist with any additional information that you require.

Please do not hesitate to reach out to us with any additional questions or concerns that you may have by sending an e-mail to mmerrell@oelspeo.com. Please put “PPP Data Request” in the subject line.

Small Business “Paycheck Protection” Loans
The most significant provision of the CARES Act for employers establishes new “paycheck protection” loans administered by the Small Business Administration (SBA) to help employers continue to cover payroll costs and other expenses during the COVID-19 crisis. The covered period for loans is February 15, 2020 through June 30, 2020.

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

Fully Forgiven
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will
charge small businesses any fees.

Must Keep Employees on the Payroll—or Rehire Quickly Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if fulltime headcount declines, or if salaries and wages decrease.

All Small Businesses Eligible
Small businesses with 500 or fewer employees—including nonprofits, veteran’s organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. Businesses with more than 500 employees are eligible in certain industries.

When to Apply Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.

How to Apply

You can apply through any existing SBA 7(a) 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. All loans will have the same terms regardless of lender or borrower. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov.

Common Lending Institution Data Requests (Subject to change depending on your lending financial institution)

2019 IRS Quarterly 940, 941 or 944 payroll tax reports (as a client of a PEO, you
do not have tax filings in your name and Fed ID, so we will be providing
equivalent reports on our company letterhead in lieu of a Form 941).

Last 12 months of Payroll Reports beginning with your last payroll date and going
backwards 12 months (e.g. gross wages for each employee, paid time off for
each employee, vacation pay for each employee)

1099s for 2019 for independent contractors that would otherwise be an employee of your business

Documentation showing total of all health insurance premiums paid by the Company Owner under a group health plan

Document the sum of all retirement plan funding that was paid by the Company Owner (do not include funding that came from the employee’s out of their paycheck deferrals)

Business owners may be asked to provide additional information and documents not listed above. We are awaiting additional details from the SBA related to expectations on lenders prior to funding.

The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Lenders should also visit www.sba.gov or www.coronavirus.gov for more information.

OELS PPP Borrower Information Fact Sheet (00320296)

OELS PPP Application