Paycheck Protection Program (PPP) Information Center

Update: January 14, 2021: PPP Borrower Window Opening Soon

We expect that the PPP2 borrowing window will officially open on Tuesday, January 19. Please reference the anticipated documentation and the interim guidance links under the Round 2 PPP Resources to the right in preparation to apply.

  • First Round PPP Borrowers - you will receive a link in your email to the new application on Friday, January 15. You can submit your application in the portal as soon as you receive the link. Paper applications will not be accepted. If you need help submitting the electronic application, please reach out to your lender or banker.  We will begin the application review process on Tuesday, January 19. Once your application is complete and approved by the bank, we will begin to submit to the SBA.

  • Other PPP Borrowers - If you are a current customer or a prospective customer that did not participate in the first round of funding with us, please provide your contact information HERE or on the “PPP Inquiries” link under Round 2 Resources to the right. One of our PPP Experts will reach out to you shortly.

We have received the interim final guidance on PPP2 and are preparing to accept electronic applications when the SBA opens the borrowing window.

We expect applications to open later next week (the week of 1/11). Watch for a link “Anticipated Documentation” that contains a preliminary list of items that may be needed as part of the process. Please do not email this documentation to your lender. You will upload it electronically with your application. This may not be an exhaustive list, but rather a guide to help you prepare. For your reference, we have also posted a link to the SBA guidance in the Round 2 PPP section.

We will provide the link to the application portal by email once available. If you are a new PPP borrower (but current customer), please contact your commercial banker or local branch to ensure your contact information is updated.

The new Stimulus bill provides for a new round of PPP loan funding. While the SBA has not released details yet, we want to provide you with anticipated direction so you can begin to gather supporting documents. Under Round 2 Resources (to the right of this message), we will soon provide a link to the updated application when it is available as well as any other critical information links. In the meantime, we anticipate the following documentation will be needed:

  1. The borrower must demonstrate that there was a 25% reduction from the gross receipts year over year from the same quarter in 2019.
  2. For the purposes of this 25% rule, gross receipts will include all revenues from the normal operation of the business before subtraction of expenses but will not include amounts borrowed, including amounts received for PPP loans.
  3. The borrower must employ no more than 300 employees, or meet an alternative size standard.
  4. Additional documentation will be needed and communicated once SBA guidance is received.
Previous Update - December 28, 2020 Accent Photo

We are closely monitoring the progress of a decision surrounding another round of business relief funding and will continue to update this page with information as it evolves.

In the meantime, we are working diligently behind the scenes to ensure we are ready to facilitate the process as soon as the SBA opens the next PPP program funding. 

Official guidelines and parameters have yet to be set. However, the Washington Business Journal published an article with some general information. That article is available by clicking here.

Additionally, you can monitor the Small Business Administration’s page for the latest updates through the link below.
Small Business Administration’s page

As information is released, we will be here to help.

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