Many small businesses have been impacted by COVID-19; however, you do have options. Please contact an ABB Loan Officer to immediately begin the PPP Loan application process. We look forward to working with you!
NOTICE: The PPP application deadline has been extended until August 8, 2020.
Paycheck Protection Program (PPP) Loans
- This is to provide cash flow assistance through 100 percent federally guaranteed loans to employers with 500 employees or less who maintain their payroll during this crisis.
- Features included:
- Loan forgiveness of up to 8 weeks of payroll based on employee retention and salary levels. To be fully forgiven, the borrower must meet certain criteria.
- No SBA fees.
- Payment deferral for up to 6 months.
- Please contact an ABB Loan Officer to apply.
PPP Loan Forgiveness
If your small business received a PPP loan, there are specific requirements you'll need to meet in order to have your loan forgiven. The SBA/Treasury has released guidance and we anxiously await further SBA information to begin uploading your forgiveness applications. As we receive additional information, we will update you here and look forward to assisting you through this next step of the PPP process!
3508EZ Loan Forgiveness
3508 Loan Forgiveness
For additional SBA tools and information related to PPP, please visit the US Department of the Treasury site.
Economic Injury Disaster Loans and Loan Advance (EIDL Loans)
- In response to the COVID-19 pandemic, small businesses in all US states including Washington, DC and territories are eligible to apply for an EIDL advance of up to $10,000.
- The SBA's Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million to help overcome a temporary loss of revenue.
- Funds may be made available within three (3) days of a successful application.
- You can apply directly with the SBA by clicking the link below: