SBA PPP Information

We hope this page provides answers to many of your Paycheck Protection Program questions. Our entire team is ready to help small business owners navigate the PPP process. If we can help you with PPP loans or any other business needs you may have, please contact your lender or your business banker. If you do not have a lender or business banker, you can call the bank directly or complete the inquiry form.

March 10, 2021 Update

As a result of the stimulus package approved in late December, the Small Business Administration (SBA) re-opened the Paycheck Protection Program (PPP) for small businesses impacted by the Covid-19 pandemic. Without further action from Congress, the PPP is scheduled to close on March 31, 2021.

If you are a small business owner, the deadline to receive a PPP loan, either a first draw or second draw, is rapidly approaching. The process to receive a loan begins with you completing the appropriate loan application and providing the application and supporting documents to your lender. The lender must review and submit the loan application in the SBA PPP portal. The loan is not considered approved until the SBA provides an approval number, which can take several business days. Again, the current deadline to receive this SBA approval is March 31.

To maximize the likelihood your PPP loan will be approved before the program closes, we strongly recommend sending in your application as soon as possible.

Overviews of the PPP loan options and the loan applications are available here:

*AN APPLICANT MAY USE THIS FORM ONLY IF THE APPLICANT FILES AN IRS FORM 1040, SCHEDULE C, AND USES GROSS INCOME TO CALCULATE PPP LOAN AMOUNT.


Other Resources:

PPP Loan Inquiry Form

Please fill out this form and we will contact you as soon as possible about the SBA Paycheck Protection Program. We appreciate your patience as we are receiving a high volume of inquiries.

Not available in all regions.


Previous Program Updates


January 6, 2021 Update

In late December, the President signed legislation to supply the latest round of Covid-19 relief, including significant economic aid for small businesses.

Specific aspects of the package include the following:

  • An additional $284.6 billion PPP funding for loans to small businesses, including a second draw option for eligible borrowers who have previously received a PPP loan.
    • To be eligible for a second draw of PPP funds, a small business must have 300 or fewer employees and must have sustained at least a 25% drop in revenue in any quarter of 2020 when compared to the same quarter in 2019. Additionally, a business must use or have used the full amount of their first PPP loan. The maximum loan amount is $2 million.
  • A one-page simplified forgiveness process for PPP loans under $150,000.
  • Economic Injury Disaster Loan (EIDL) Advances will no longer reduce the amount of PPP forgiveness.
  • Clarification to various CARES Act provisions and the tax treatment of PPP expenses.

October 16 Update

The SBA released another PPP Loan Forgiveness Application, SBA Form 3508S, for use by PPP borrowers applying for loan forgiveness on PPP loans with a total loan amount of $50,000 or less, except for those borrowers that together with their affiliates received loans totaling $2 million or greater. This application is the streamlined application that has been discussed for several months. 

Per the SBA, "Form 3508S requires fewer calculations and less documentation for eligible borrowers. Borrowers that use Form 3508S are exempt from reductions in loan forgiveness amounts based on reductions in full-time equivalent (FTE) employees or in salaries or wages. Form 3508S also does not require borrowers to show the calculations used to determine their loan forgiveness amount."

With these updates, there are now three PPP Loan Forgiveness Applications: 3508S, 3508EZ, and 3508.