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