Last Updated: 5/21/2020
AN UPDATE FOR OUR BUSINESS CUSTOMERS
Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
The CARES Act provides financial relief to consumers and small businesses affected by the COVID-19 crisis. The Federal Paycheck Protection Program (PPP) is an SBA loan that helps businesses keep their workforce employed during the COVID-19 crisis.
Understandably during this time of need, demand has been unprecedented. When the PPP became available for funding, in conjunction with the SBA we were able to process and approve over six years of our typical SBA lending in 10 days for our customers. We expect demand to be more than the newest round of funding provided. We are working around the clock to make sure as many funds are reserved with the SBA as possible.
If you have already submitted your application through our online PPP Request Form, we are processing your request and will contact you as additional information is needed to complete an application.
For non-customers, we have begun to assist non-customer requests on a first-come, first-served basis. If you have already applied with another financial institution to obtain a PPP loan, you may want to consider working with them as you may only obtain one PPP loan per unique tax identification number or social security number. Demand for this program is high and funds are limited so we will do our best to have a member of our team contact you as soon as possible.
If you have already secured PPP loan funding, you may be wondering what’s next and what to know about your PPP loan forgiveness application.
Starting Out: PPP Loan Request
Begin your PPP loan request through our online portal.
Funds Secured: PPP Loan Forgiveness
We will let you know when we begin to accept loan forgiveness applications through our online portal. In the meantime, our resource page is updated regularly with information on what you can do to prepare for PPP loan forgiveness.
The information provided is intended for informational use only and is subject to change.
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