Paycheck Protection Program Information

PPP Applications 

The SBA is no longer accepting applications for the Paycheck Protection Program.

PPP Forgiveness

The SBA has  simplified the forgiveness process for most businesses. Those who received loan approval before June 5, 2020, may also choose either an 8 week or 24 week forgiveness period. And, the SBA has relaxed the potential FTE “penalty” for businesses unable to maintain normal operations due to pandemic restrictions. You may find details on our PPP Forgiveness Page.

We Want to Be Your Bank

We have digital banking tools so that we are able to support your business no matter how far you are from one of our branches. We hope that you will choose to be a long-time customer. You may learn more about here about accessing your PPP funds and other banking products.

Other Recent PPP Updates

Public Data Released

The Small Business Administration and Treasury Department have announced that they have publicly released certain information about PPP borrowers. For loans of $150,000 or more, the data released includes business names, addresses, NAICS codes, ZIP codes, business type, demographic data, non-profit information, jobs supported, lender name, and dollar ranges for loan amounts. Dollar amounts are being disclosed in ranges of $150,000-$350,000, $350,000-$1 million, $1 million-$2 million, $2 million-$5 million, and $5 million-$10 million. Loans of $150,000 and up account for nearly three-quarters of the dollar volume of PPP loans.

For loans below $150,000, the agencies will not release business names but will report loan totals, aggregated by ZIP code, by industry, by business type, and by various demographic categories. The agencies have noted that PPP borrower applications disclose that this information could become public.

Paycheck Protection Small Business Forgiveness Act, S. 4117 (bill)  H.R. 7777 (bill)

This bill has been introduced in Congress and would provide automatic forgiveness for businesses with Paycheck Protection Program loans under $150,000 with minimal paperwork required. There is no deadline currently for you to submit your forgiveness application. If your PPP loan is less than $150,000 and you would like to wait to see how this bill progresses, you may do so.