Update: In order to reach the smallest businesses, from Wednesday, February 24 – Wednesday, March 9, 2021, the SBA will only accept PPP loans for businesses and nonprofits with fewer than 20 employees. Additional program changes have been announced.
- If your business has 1 - 19 employees, please proceed with your application! New federal guidelines are also available for sole proprietors, independent contractors, and self-employed individuals.
- If your business has 20 or more employees, you may submit your PPP loan application via our online portal and we can help ensure it is ready to be sent for processing to the SBA starting on March 10.
- For more information on the SBA’s assistance to small businesses, visit sba.gov/ppp or treasury.gov/cares.
- IRS Issues Updated Guidance on Deductibility of PPP Qualified Expenses
- Accessing Capital for Minority Underserved, Veteran and Women-Owned Business Concerns Guidance
First-time PPP borrowers:
* (To apply for an eligible loan request with Eastern, you will complete this application digitally through our system)
Eastern Bank resources:
- For your convenience, our dedicated PPP inquiry e-mail address is staffed during business hours by bankers who can assist with questions. E-mail us at: PPPupdate@easternbank.com.
- We’ve also rolled out a free financial assistant called Monit that can help track expenses related to PPP. To learn more, click here.
The information provided is intended for informational use only and is subject to change.