Update: We are no longer accepting PPP applications as of 4:07pm on August 7. We appreciate your business as well as your patience as we obtain approvals for the applications we've received thus far.
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.
SBA and Treasury Releases Names of PPP Loan Recipients
July 7, 2020 - The Small Business Administration and Treasury Department publicly released information about Paycheck Protection Loans. The agencies disclosed business names, addresses, dollar ranges for loan amounts and other information for PPP borrowers with loans of $150,000 or more, which account for nearly 3/4 of the dollar volume of PPP loans. For loans below $150k, the agencies did not release names but have reported loan totals, aggregated by zip code, industry, business type, and various demographic categories. Make no mistake - Anderson Brothers Bank and other PPP lenders are not publicly releasing this information and do not support its publication. Read More.
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 (EIDL)
- 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: