Emergency Business Loan Options
Updated July 27, 2020 at 4:25 pm
These are challenging times and we’re here to help!
Over the past several months, we have been working with our business members, keeping in mind the hardships each faces as they serve in various sectors of the economy. To that end, we have offered payment concessions to existing business or commercial loans where appropriate through conversations with their existing commercial loan officer and worked to process SBA Payroll Protection Program (PPP) loans as quickly as possible.
Your PPP loan has been funded and you're ready to apply for loan forgiveness. What are the next steps? Review our frequently asked questions below.
When can I apply for loan forgiveness?
The SBA is not accepting forgiveness applications until at least August 10. This time frame may be delayed further if new legislation passes that changes the forgiveness process.
How can I submit documentation for loan forgiveness?
We will begin emailing businesses whose loans have been funded with a personalized link to a secure portal where you can submit all your supporting documentation after August 10. Paper applications will not be accepted.
*Please note that the forgiveness applications listed on the SBA's website cannot be submitted to the SBA yet. Until further guidance regarding forgiveness requirements has been provided by the SBA, the applications listed can be used only as a resource for a general idea of what information may be required.
How can I prepare for when loan forgiveness applications will be accepted?
It would be beneficial to keep track of your expenses so you are prepared to provide that information later.
As this process continues to evolve, we greatly appreciate your patience. We will provide updates as information becomes available.
Paycheck Protection Program
We are no longer accepting new applications for the SBA's PPP loans as of Friday, May 29 at 5 pm. We apologize for not being able to accommodate all requests.
For more details about the PPP and other relief programs, visit the SBA website or the state of Florida's disaster loan website.