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We understand the restrictions you may be experiencing while operating under limited conditions or the concerns that come with having to temporarily shut down your business.
Our priority is to maintain the highest level of service you have come to expect while you navigate the challenges of COVID-19.
You will continue to have the same access to lines of credit and working capital with no disruption. If a situational need to borrow, access additional capital, or open a line of credit to optimize cash flow arises, we will be here to help you solve and manage the solution that’s needed for your business. Contact your relationship manager to discuss details of your specific situation.
As we have previously communicated, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) extended the authority to make Paycheck Protection Program (PPP) loans through March 31, 2021. We will be accepting applications from eligible current customers for PPP first and second draw loans through our online portal.
To ensure we have adequate time to review, process and submit applications by the March 31, 2021 deadline, we will not be accepting new PPP loan applications after March 15, 2021. Please note that the submission of an application does not guaranty the receipt of a PPP loan.
We will continue to process loan applications from eligible current customers that are completed, signed and submitted through our online portal no later than March 15, 2021. If you have already completed, signed and submitted a PPP loan application, we will contact you if additional information is required. Applications that remain incomplete or have not been signed and submitted by March 15, 2021 may not be approved and eligible for funding prior to the March 31, 2021 deadline.
As a reminder, PPP loans are subject to all PPP, U.S. Small Business Administration (SBA) and other applicable rules and requirements. Should you have any questions regarding specific rules and requirements, we encourage you to consult with your legal and/or accounting/tax professionals. For more information and details about the PPP, including comprehensive program guidelines, please visit www.sba.gov
Please note that any information provided is based upon our interpretation of the guidance issued by the SBA and the U.S. Department of the Treasury and does not constitute legal or tax advice. You should contact your legal and tax professionals for any legal or tax advice.
In the event that you are a current customer and would like to submit an application through our online portal, please contact your relationship manager or customer support at 877.723.5571.