SBA Paycheck Protection Program
On April 23, 2020, Congress approved an additional $310 billion in funding for the Paycheck Protection Program (PPP). We expect that SBA will reopen the PPP soon. Over the past several weeks, as Congress has worked to authorize additional funds, we have continued to accept PPP applications so that we are ready to submit those applications, as well as applications that did not get approved during the first round of funding, as soon as the PPP is reopened.
Due to the overwhelming response we received prior to the second round of funding becoming available, we are no longer accepting applications online. If you are interested in being contacted by a CSB banker regarding PPP, please click here to complete a request form. Please remember, applications to participate in the PPP are subject to receipt and review of payroll, tax and other supporting documentation, as well as SBA authorization. Due to the volume of applications we received and the limited amount of funding available, we cannot guarantee funding.
We know how critical this program is to small businesses facing the impact of COVID-19. We are committed to processing as many PPP loan requests as humanly possible in order to put these funds to work in our communities, but we anticipate that this second round of funding will run out soon. If there is anything we can do apart from the PPP to assist with your financial needs, please contact your relationship manager or local branch.
Thank you for your patience and understanding.
PPP Resources and Documents
For information on loan forgiveness Click Here.