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Front End

The 3 piece of documentation needed to qualify a 1099 business were:

  • The Application

Name, Business Name, Business Address, Date, other business logistics

  • The 1096-1099 Tax Form

The aggregate amount of all payments to full-time equivalent contractors, paid by 1099-MISC

  • The Loan Amount Template

The total on the 1096-1099, divided by 12 months and multiplied by 2.5; to find two and a half months of total covered payroll 

Application was complete. Business was qualified.

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