Where to Apply for Payroll Protection Program: SBA COVID-19 Links

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The Paycheck Protection Program (often called the payroll protection program) is another avenue for small businesses to apply for SBA loans during the coronavirus outbreak. This is a separate program from the SBA disaster loans (EIDL), which you can read about on Heavy here. If you’re applying for a loan via the Paycheck Protection Program, read on for more details about when and how to apply, including a list of who some of the PPP lenders are with links for early applications.


Application Dates

Lenders can begin processing loan applications for small businesses and sole proprietors on Friday, April 3, according to the Treasury’s fact sheet.

If you’re an independent contractor or otherwise self-employed, you can start applying on April 10.

The deadline is June 30, Smart Asset reported. However, it’s better to apply as soon as possible because loans have a cap at $349 billion.


Apply Through SBA Lenders, Not the SBA’s Website

You can’t apply on the SBA’s website for this loan, unlike the disaster assistance loan. Instead you’ll apply through any SBA 7(a) lender or federally insured depository institution or credit union, among others.

The SBA’s fact sheet notes: “You can apply through any existing SBA lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating. Visit www.sba.gov for a list of SBA lenders.”

As of the time of publication, the SBA did not have a list of vendors readily visible on its website. However, the SBA does provide a list of its most active SBA 7(a) lenders here, and these are among the lenders eligible to participate in the PPP. Below is the list of the SBA’s most active lenders, along with links where you can apply (or pre-apply), get more information or where applications will be posted once available. This is not a full list of lenders but a list of the most active, in alphabetical order. Please note that some of these businesses may not be ready to accept applications right on April 3, but they may include links for updates about when applications are available.

  • 21st Century Bank
  • America First FCU – Apply at this link by clicking Apply Now. You’ll need a business account first.
  • Ameris Bank – Fill out an application here and submit to PPP@amerisbank.com. See more details.
  • Atlantic Capital Bank
  • Bank of America –  Apply here.
  • Bank of George – See documents you’ll need here.
  • Bank of Hope – Call 888-972-5363 for details.
  • Bank of the West
  • BankUnited – Begin collecting documentation now, including Form 941 from the most recent four quarters and verification of payroll cost and employees for the last 12 months. See updates here.
  • BBVA Compass – See details for April 3 here. You must use BBVA Online Banking and apply online. See other options here.
  • Berkshire Bank – They suggest filling out a Contact Us form because of high call volume. They also mention that they are actively working on accepting applications and will provide updates soon.
  • Byline Bank – Updates will be here. If you’re a current customer, contact your Portfolio Manager.
  • Cadence Bank – Updates can be found here.
  • Capital One – Applications aren’t being accepted as of April 2 (the last update as of the afternoon of April 3.) Updates will be posted here.
  • Cathay Bank
  • Celtic Bank – Celtic warns they may have to delay accepting applications due to the SBA not yet releasing initial guidance. You can start by filling out a form here.
  • CenterState Bank – Complete a form here for updates
  • Centerstone SBA Lending, Inc.
  • Chase Bank – You can begin submitting information to apply for a loan here.
  • Citizens Bank – Updates will be posted here. You can request an application here.
  • Comerica Bank – Call 888-444-9876. Existing customers will get first priority. See updates here.
  • Cross River Bank in New Jersey: A reader let Heavy know that their application was accepted even though they are not a client.  Find more details and an application here.
  • Customers Bank – Complete the form at the bottom of the webpage for updates. Customers also notes that if you have an existing SBA loan, the SBA will cover the next six months of principal and interest starting April 2020 (for 7A and 504 loans.)
  • East West Bank – Fill out the starting application form here. Only existing customers’ applications are currently being accepted.
  • Embassy National Bank
  • Falcon National Bank –  Phone numbers and emails to contact were listed here but that page has since been taken down.
  • Fifth Third Bank – You’ll need a Fifth Third online banking profile first and you can only apply online. See more details here.
  • FinWise Bank
  • FirstBank – Download an application here and then email it to your FirstBank banker.
  • First Chatham Bank
  • First Commonwealth Bank – Complete an application here and include 2019 Form 941 or Form 944 and a beneficial ownership form. Upload the application on their DropBox site or mail the application. See more details here.
  • First-Citizens Bank & Trust Company
  • First Financial Bank – Details will be posted here and First’s SBA clients will also get emails. An application isn’t available yet as of the afternoon of April 3.
  • First General Bank
  • First Home Bank – Start applying here.
  • First Horizon Bank – Updates here and contact your banker for more details.
  • First IC Bank
  • First National Bank of Pennsylvania – Updates and the application are here. Complete the information form on the webpage first, then select your annual revenue, then upload your application, all on the same webpage.
  • First Savings Bank – If you’re a current banking customer, contact one of their lenders or call 1-833-372-4968.
  • First United Bank – Apply here.
  • First Western – Application form is here. You’ll need copies of your payroll tax, payroll reports, health insurance premium documentation, and retirement plan funding documentation.
  • Five Star Bank – Contact your relationship manager for details, or see phone numbers near the bottom of the page here.
  • Fountainhead SBF LLC – Fill out an application here to be entered into the processing queue. You’ll get a welcome email with details on more steps to take.
  • Frost Bank – You can start applying here if you’re a Frost business checking customer. Then log into Frost and upload your application form and other required documents.
  • Fulton Bank – Applications will be accepted starting April 3. Download an application here, save it and email it to PPPSB@fultonbank.com. See details here.
  • Hana Small Business Lending, Inc.
  • Hanmi Bank – Details here.
  • Harvest Small Business Finance, LLC
  • HomeTrust Bank – Updates will be here.
  • Huntington National Bank – See their PPP page here. They list what documentation you’ll need along with other relief programs. You can also fill out an inquiry form for the CARES Act PPP there.
  • IncredibleBank – See details here. Submit a get started form first and you’ll get an email about applications once they’re accepted.
  • Independent Bank
  • KeyBank National Association – Updates will be posted here. There was a form for getting updates, but that’s been taken down.
  • JPMorgan Chase Bank – You can begin submitting information to apply for a loan here.
  • Live Oak Banking – Sign up here to see when they’re accepting applications.
  • M&T Bank – Updates may be posted here.
  • Metro City Bank
  • Midwest BankCentre – PPP fact sheet and details are here. Call 314-631-550 or 800-894-1350 with questions. You can also fill out an application on that page and see a checklist.
  • Midwest Regional Bank – A page here simply says not to email personal or financial information.
  • Mountain Pacific Bank – Contact your loan officer at 425-263-3500 or wait for updates here.
  • MUFG Union Bank
  • NewBank
  • Newtek Small Business Finance, Inc.
  • Northwest Bank – Updates here. They’re still working on making applications available.
  • Old National Bank – Applications open April 3 (but April 10 for independent contractors and self-employed individuals.) Contact a loan officer for details or call 1-800-731-2265.
  • Open Bank
  • Pacific City Bank – Their SBA loan page is here, but it does not list PPP options yet.
  • Park State Bank in Minnesota: A reader let Heavy know that their application was accepted even though they are not a client. You can find an application here, along with where to send your application.
  • Patriot Bank
  • Pacific Western Bank – There’s no start date yet, but the bank recommends having payroll registers and financial statements ready. Learn more here.
  • Peapack-Gladstone Bank – On this update, the bank says to email PGBCovid19PPPRelief@pgbank.com for help.
  • Peoples Bank – Complete a form here to be contacted.
  • Pinnacle Bank – Talk to your Pinnacle financial advisor or find one here.
  • PNC Bank – Click “Contact Us” for details.
  • Poppy Bank
  • PromiseOne Bank – Their website currently only talks about EIDL loans and not the new PPP loans, so it’s not clear if they’re offering these loans or not.
  • Quantum National Bank – Applications will be posted here.
  • Readycap Lending, LLC – Start the process here.
  • Regions Bank – Updates here. As of 6 p.m. Eastern on April 3, the online application was unavailable due to high volume and visitors are asked to check back later.
  • Republic Bank – This page briefly mentions PPP along with other options.
  • Royal Business Bank
  • Seacoast Commerce Bank – Scroll down to the Protection Loan section near the end of the site and click on “Apply  Here.”
  • Seacoast National Bank
  • Shinhan Bank America
  • Stearns Bank National Association – Some PPP loan applications are now being accepted here. Download an application and email it to PPPLoan@StearnsBank.com and submit payroll documentation for an expedited review.
  • Stone Bank
  • Sunflower Bank – Get updates here and register a PPP Loan Request.
  • Synovus Bank – You can apply online on April 3 here.
  • TCF National Bank
  • TD Bank
  • The MINT National Bank
  • Truist Bank d/b/a Branch Banking & Trust Co – Trustmark has a page about applying here.
  • Umpqua Bank – Visit here for all relief options. Current customers can go here and click on the “Paycheck Protection Program Portal” to apply. If you’re a prospective customer, go to the same link and fill out a form showing that you’re interested in PPP.
  • UniBank
  • Union Bank – Updates are posted here but nothing specifically about CARES as of the time of publication.
  • United Business Bank
  • United Community Bank – Sign up here for updates on PPP. They will have an application portal at that webpage open on April 4.
  • United Midwest Savings Bank
  • Univest – They’ll begin accepting loan applications on April 3 and April 10. Complete an online application here and send it to PPP@univest.net.
  • U.S. Bank, National Association – Updates will be posted here.
  • US Metro Bank
  • VelocitySBA – See here.
  • Wallis Bank
  • Wells Fargo Bank – You’ll be able to apply online here.
  • West Town Bank & Trust – Complete a contact form here for a pre-application. Get more details here.
  • Zions Bank – An application will be here on April 3 at some point during the day.

If you want to monitor any of these sites and get notifications when their webpages change, you can use a service like ChangeTower or Fluxguard.

According to the SBA, credit unions, S&Ls, banks and other lenders can join the 7(a) loan program if they meet certain requirements, which you can read here.


How To Apply

You can find a sample application form for the Payment Protection Program on the SBA’s site here. This is not an official application, which you have to get through a lender and not through the SBA. But this gives you an idea of what you’ll need to apply. It’s a three-page application that requires a few yes-or-no questions and certifications that the loan is necessary.

To apply, you’ll need to complete the PPP loan application and you’ll need payroll documentation. Some other lenders may require additional documentation. Trustmark, for example, requires 2019 End of Year Unemployment tax reports, IRS Form 940, organization documents (such as a certificate of existence), a list of entities owned by any 20% or more owner and they recommend including evidence of healthcare benefits paid to employees for 2019, evidence of retirement benefits paid and most recent tax returns.

You’ll need to know your average monthly payroll in order to apply. The SBA notes this is typically the average monthly payroll for 2019, excluding costs over $100,000 “on an annualized basis for each employee.” For seasonal businesses, you can use an average monthly payroll for February 15, 2019, to June 30, 2019. New businesses can use the time period from January 1, 2020, to February 29, 2020, with the same exclusion noted above.

According to the fact sheet, loans can be used for payroll costs (including benefits), interest on mortgage obligations before February 15, rent in force before February 15, and utilities whose service began before February 15.

Loans can be for up to two months of your average payroll costs from last year, plus 25 percent, up to $10 million. Loans must be used for payroll costs, mortgage interest, rent and utilities over an eight-week period from getting the loan in order to be forgiven. The SBA anticipated that no more than 25 percent of non-payroll costs will be forgiven.


Loan Alternatives

If you’re rejected for this loan, there are still many other options available. Your state might be offering loans for small businesses. You might also be able to apply for a disaster assistance loan through the SBA. The SBA is also offering Enhanced Debt Relief.

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