We’re proud to help essential businesses like yours by offering specific relief programs in partnership with the SBA, including the Paycheck Protection Program

Please note, it is up to you working with the SBA to determine loan forgiveness. Please check the SBA website for additional information on SBA guidelines and loan forgiveness.
If you've already been approved for the Paycheck Protection Program, here are some important things to keep track of as you use your loan.

  • Ensure PPP funds are used only for allowable uses.
  • Work closely with tax professionals to maximize your forgivable amount. 
  • Additional tax savings under the CARES Act.
  • Maintain proper documentation to substantiate costs.
  • File an application after the 8-Week period to request forgiveness of loan amounts.

SBA Paycheck Protection
"PPP" helps you cover payroll and overhead expenses, featuring deferred payments and potential loan forgiveness. Check out the PPP FAQs and then talk to one of our specialists.
SBA Disaster Relief Loans 
The US Small Business Administration offers direct assistance with low-interest disaster loans as a result of COVID-19. Apply through the SBA.
Questions About SBA
We’re here for you. Ask a question about your business, your loan programs, and get help. Start with our customer care team today.
Please note: The US SBA continues to review program terms for PPP loans.
Check back often. We'll update this page regularly with SBA guidance for you and your business. 
Sample Documents for Review:

Paycheck Protection Program

For the period from February 15, 2020 to June 30, 2020, the SBA may provide 100% federally backed loans to eligible businesses to help pay operational costs. Subject to certain conditions, loan amounts are forgivable.


  • Any business concern, non-profit organization, veterans' organization or Tribal business meeting the below eligibility requirements
  • Businesses must have 500 or fewer employees to participate. This includes full-time, part-time and those employed on other basis, including freelance or gig economy workers.
  • Must meet the employee size standard established by the SBA for the industry in which the entity operates, if larger than 500 employees.
  • Special affiliation waivers for businesses in the hospitality and dining industries, franchisees holding a franchise listed on the SBA's registry of approved franchise agreements, or any business that receives assistance from a company licensed under a specific portion of the Small Business Investment Act.

Loan Requirements

  • The loan is needed to continue operations during the COVID-19 emergency;
  • Funds will be used to retain workers, maintain payroll or make mortgage, lease, and utility payments;
  • The applicant does not have any other application pending under this program for the same purpose
  • From February 15, 2020 through December 31, 2020, the applicant has not received duplicate amounts for the same purposes though another loan under Section 7(a) according to the SBA.
  • A lender must consider whether the borrower was operating on February 15, 2020 and had employees or independent contractors for whom the borrower paid.

Eligible uses of loan proceeds, in addition to uses already allowed under the SBA Business Loan Program

  • Payroll costs (certain exclusions apply)
  • Costs of continued group health care benefits during periods of paid sick, medical, or family leave.
  • Salaries, commissions or similar compensation
  • Payments of interest on mortgage obligations
  • Rent/lease agreement payments
  • Utilities
  • Interest on any other debt obligations incurred before the covered period

Program Features

  • SBA guarantee and ongoing servicing fees are waived
  • Possible debt forgiveness up to 100%
  • Payments deferred for six months
  • 100% loan guaranty
  • Maximum loan amount of $10 million
  • Loan amount determined by borrower's total average monthly payroll costs for the most recent 12 months, excluding compensation above $100,000/year employees, times 2.50, plus the outstanding amount of any SBA Economic Injury Disaster Loan (EIDL) between January 31, 2020 and the date that Paycheck Protection Program loans are available to refinance the EIDL loans (alternative loan amount calculations available for seasonal employer or entities that were not in operation between February 15, 2019 and June 30, 2019).
  • No collateral or personal guarantees are permitted to be required
  • No credit elsewhere test

Debt Forgiveness

The program provides for possible debt forgiveness of eligible expenses of small businesses. The below information is a summary of the debt forgiveness process, but is not a comprehensive list of all requirements or details of the process. Further information regarding the debt forgiveness process will be coming soon.

This program provides the opportunity for indebtedness to be forgiven, and not taxed in an amount not to exceed the principal amount of the loan, equal to the costs incurred and payments made during the covered period on:
  • Payroll costs
  • Interest payments on mortgages
  • Rent
  • Utility payments
Forgiveness amounts will be reduced for any employee cuts or reductions in wages. To substantiate their fixed expenses, borrowers will have to provide source documentation for payroll expenses, rent and mortgage payments, and utility expenses as well as proof of payment for those expenses to the lender that is servicing the loan. If the expenses are approved, the SBA will purchase that portion of the debt from the bank and reduce the borrower's loan principal. Forgiveness may not be provided for expenses that do not qualify under one of the above listed expense categories.


  • Fixed interest rate of 1.00%
  • All loan payments deferred for  6 months
  • Loan term of 2 years
  • Possible debt forgiveness up to 100% as outlined above.
Please contact us for more information.
Watch this page for updates on the SBA programs as new features and clarifications are issued. 
Additional Resources:

Subject to credit approval and program guidelines. Small Business Administration loans are administered by preferred SBA partners and subject to SBA eligibility guidelines. Certain restrictions apply to refinancing options and are subject to program terms. Refinances of existing SBA loans are excluded. Financing maximums and terms are determined by borrower qualifications and use of funds.