Your Paycheck Protection Program Guide

We are now accepting applications for First and Second Draw PPP Loans.

We are committed to helping our customers receive the potential benefits that are provided through an SBA Paycheck Protection Program Loan.

First Draw PPP

You can still apply for a First Draw PPP loan until March 31, 2021 if you meet eligibility requirements.

For more information, visit First Draw PPP Loans at sba.gov.

Second Draw PPP

Within the passage of the Consolidated Appropriations Act of 2021, a Second Draw provision was included for businesses that participated in the SBA Paycheck Protection Program and have utilized the funds appropriately.

This loan program will work in a similar manner to First Draw PPP with the Bank providing SBA guaranteed loans to eligible businesses. The loans will have a 5-year maturity, a 1.00% per annum fixed interest rate and will be eligible for forgiveness subject to the SBA rules. Eligibility is determined by measuring Gross Receipts in the quarters of 2020 vs 2019.

The deadline for application is March 31, 2021, however, if the program runs out of funding allocation it may be ceased prior to the application deadline.

For more information, visit Second Draw PPP Loans at sba.gov.

Helpful Resources

• SBA PPP FAQ's
• SBA PPP Website
• Treasury Department