The PPP loan forgiveness information has been changing rapidly, and the information provided here is intended to help you through the process as best as we can. The initial application for forgiveness is available for your review here, but because there is active legislation in Congress to change some of the rules surrounding forgiveness, it may be in your best interest to not rush to apply for forgiveness until a complete picture of PPP forgiveness is available.
We are still accepting applications for the Paycheck Protection Program. If you are interested in getting started, please fill out the form below or contact a lender at one of our banks. We have a wealth of experience working with the Small Business Administration (SBA) and have been a long-standing SBA Lender for decades.
You must have less than 500 employee and that does include 501(c)3 non-profit organizations, sole proprietors, independent contractors and those who are self-employed. There are some exceptions but this is the basic criteria. The SBA does have other eligibility requirements, though, so it’s best to speak with your lender.
The amount each business can borrow will be determined by the SBA criteria and are capped at $10 million. Please speak with your lender and review the SBA documents to determine your total loan amount.
Yes, there are some loan forgiveness programs as part of the stimulus package. However, that is determined by how much you borrow and how you use the loan. It’s best to speak with your lender when they have all the criteria available.
To get you started with SBA Paycheck Protection Program loan process, please fill out the form below. Due to increasing fraud in the Paycheck Protection Program, we will perform enhanced due diligence for loan requests coming from outside our market area.