The Small Business
Administration’s
Paycheck Protection Program (PPP)
The Small Business
Administration’s
Paycheck Protection Program (PPP)
Updated 2/24/2021
The PPP Loan Forgiveness application portal will be closed from February 28 -- March 7, 2021 in order to update to the new forgiveness application that will be released by the SBA. When the PPP Loan Forgiveness application reopens, it will be a more user-friendly and easy application process for our customers.
The Biden Administration has created an exclusive processing window only for PPP loan requests for sole proprietors and companies with fewer than 20 employees. The new limited SBA PPP processing window begins on February 24 and is scheduled to end after 14 days. As such, we will hold applications from businesses that do not meet these requirements and submit them to the SBA once the processing window re-opens. For more information, please visit the SBA website.
The Small Business Administration’s Paycheck Protection Program has provided essential relief to businesses affected by the pandemic by offering low-interest, forgivable loans to eligible borrowers through approved lenders like Bank of the Sierra.
An additional round of funding for the PPP was made available through the Consolidated Appropriations Act passed by Congress at the end of 2020. Bank of the Sierra is participating in this new round of PPP loans to help small businesses in our communities.
Bank of the Sierra is now accepting PPP Round 2 loan applications. Business customers with any questions should email the Bank’s dedicated lending team at PPP@bankofthesierra.com.
Manage your money on the go with these resources.
Important Disclaimer: Bank of the Sierra wants to support our business customers by providing information and reminders about the Paycheck Protection Program (PPP), which are based on guidance from the Small Business Administration (SBA). Please note that the information we provide is for informational purposes only. We are not guaranteeing its accuracy. We are not endorsing the program nor providing business, legal, or tax advice. There are still uncertainties about the program, and the SBA is expected to release additional guidance. Current information can be found on the SBA’s Paycheck Protection Program webpage.
