SBA Paycheck Protection Program
Update 12.31.20 – President Approves COVID-19 Relief Bill, Reauthorizes PPP
As you may have heard, this past week the President signed into law the Coronavirus Response and Relief Supplemental Appropriations Act which will provide for a 2nd round of PPP loans, including existing PPP borrowers.
At this point, we are still awaiting more details and guidance from the SBA. Right now, customers cannot apply for a new PPP loan. We expect the program will commence, and customers will be able to apply for a PPP loan, around mid-January.
Please contact your banker if you have any questions.
We will continue to provide information as it becomes available.