These Banks and Lenders Are Accepting SBA Paycheck Protection Program Loan Applications
The Paycheck Protection Program allows small businesses affected by the pandemic to apply for up to $10 million from Small Business Association approved lenders. Employers can use the funds to cover the costs of salaries, bonuses, retirement benefits, parental leave and health care benefits.
The loans can be forgiven for the first eight weeks if employers pay their expenses and keep salary levels constant. Three-quarters of the loan must go toward payroll. According to Fortune, here is an updated list with links where small business owners can apply for relief.
MAJOR LENDERS
Wells Fargo: only accepting “expressions of interest” at this time
REGIONAL LENDERS
Ameris Bank: services Alabama, Florida, Georgia, and South Carolina, and has mortgage-only locations in Alabama, Georgia, Florida, South Carolina, North Carolina, Virginia, Maryland, and Tennessee
PNC Bank: accepting applications from applicants with an existing business deposit or lending relationship
Atlantic Capital Bank: accepting applications from existing customers
Celtic Bank: based in Salt Lake City
FirstBank
Peapack-Gladstone Bank: accepting applications from current clients
First Commonwealth Bank: accepting applications from existing business customers
Blue Ridge Bank: Loans available for those with an account
Midwest BankCentre
West Town Bank & Trust: accepting pre-application forms
Univest Bank and Trust Co.: accepting applications from current customers
Old National: Loan applications available to existing clients with an active account or loan prior to March 31
Pinnacle Bank
Umpqua Bank: accepting loan applications from current customers
First United Bank: accepting applicants in Texas and Oklahoma
Fulton Bank: is accepting loan applications from existing business customers
CREDIT UNIONS
America First Credit Union: accepting applications but requires applicants to have a current business account.
Fountainhead SBF
FINTECH
