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Please be aware that qualified loans are only available under the Paycheck Protection Program (PPP) until June 30, 2020, or when program funds run out—whichever comes first. Our application to apply for a PPP loan will remain open to existing customers.

If you’ve already submitted a PPP loan application to us, we will continue to review and process it until the end of the program.

You should also check the SBA and the Department of the Treasury sites for PPP resources and program information; these materials are updated often.

There is no guarantee that funds will be available for all qualified loan applicants or that loans will be reviewed, processed, and approved prior to the end of the program. To help expedite the loan application process, Customers should submit a fully completed application, including all supporting documentation outlined in the application.

Where can I apply?

You can apply through any existing SBA lender (such as Country Bank) or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.

Who can apply?

All businesses – including nonprofits, Veterans organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors – with 500 or fewer employees can apply. Businesses in certain industries can have more than 500 employees if they meet applicable SBA employee-based size standards for those industries SBA Employee-Based Size Standards

What do I need to apply?

You will need to complete the Paycheck Protection Program Loan application and submit the application with the required documentation to an approved lender that is available to process your application by June 30, 2020. Below is more information on submitting your application to Country Bank.

Please complete a Paycheck Protection Worksheet in conjunction with your application to ensure everything is returned with the necessary information:

What other documents will I need to include with my application?

  • Copies of payroll tax reports filed with the IRS (including Forms 941, 940, state income and unemployment tax filing reports) for the entire year of 2019 and the first quarter of 2020 (if available).
  • Copies of payroll reports for each pay-period in the preceding 12-months. Such reports should include gross wages – including PTO (this might include Vacation, Sick, and other PTO).  This includes payroll reports through the pay-period preceding the origination of the SBA loan.
  • Documentation reflecting the health insurance premiums paid by the company under a group health plan, including owners of the company for the immediately preceding 12-months prior to the date of the SBA loan origination.  Copies of the monthly invoices should be sufficient.
  • Documentation of all retirement plan funding by the employer for the immediately preceding 12-months. Copies of work papers, schedules, and remittances to the retirement plan administrator should be sufficient.

Do I need to first look for other funds before applying to this program?

No. We are waiving the usual SBA requirement that you try to obtain some or all of the loan funds from other sources (i.e., we are waiving the Credit Elsewhere requirement).

Loan Forgiveness

On May 15th, the SBA released initial guidance and requirements for those PPP loan customers who wish to request that some or all of their PPP loan be forgiven.

The loan forgiveness application form and step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness can be found on the SBA’s website.

The SBA still intends to publish additional rules and guidance on the program’s forgiveness provisions so we recommend you check their website often as it is the most current and official source for the latest PPP loan updates.

We will continue to provide you with updates as we are made aware of them.

PPP Loan Request Form

  • Please Note:

    We will only accept PPP Loan requests for Massachusetts residents that have an account with Country Bank.
  • Please let us know if you have any additional information to add. Please note: This is not a secure form, do not provide any personally identifiable or account information.
  • This field is for validation purposes and should be left unchanged.