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Paycheck Protection Program

Paycheck Protection Program & other Resources for Small Business & Non-profits


August 10, 2020 – PPP Debt Forgiveness Update

The SBA has announced that they will begin accepting PPP Debt Forgiveness Applications beginning August 10, 2020.

Click here to find information on the Standard and EZ applications.

The criteria for determining whether you are eligible for use of the EZ application can be found in the instructions for the EZ application.  Please note that loan size is not one of the determining factors of eligibility for the EZ application.

For customers who obtained a PPP Loan with Providence Bank & Trust, you will receive a communication from the commercial lending team with information needed to file your application.

If you have any questions regarding your PPP Loan with Providence Bank & Trust, please call us at 888-923-5664 to speak with your commercial officer.

 

Communication Updates

April 27, 2020 – PPP Update from Providence Bank & Trust


Providence Bank & Trust is committed to the success of our neighborhood businesses and non-profits and the community members employed by those businesses. As we continue to navigate these unprecedented times, it is important to remember that we are all in this together. Being a community-oriented bank, Providence Bank & Trust is working at its full capacity to help our business and non-profit customers navigate the details of the SBA Paycheck Protection Program (PPP). We are working diligently to process these loans and answer questions and, to date, have processed over 400 PPP loans for our customers totaling $100 million. These loans will be funded in accordance with SBA required deadlines.

 

The SBA will resume accepting Paycheck Protection Program applications on Monday, April 27, 2020 at 10:30am EDT.  With this in mind, we continue to work on this important initiative and are now accepting additional applications from businesses and non-profits in the communities that we serve.  

For any additional inquiries about an approved loan, pending application or general questions, you may contact us by phone at 888-923-5664 or email at info@providencebank.com and a member of our team will be ready to assist you. You may also visit our coronavirus webpage by clicking here for up to date information.

 

We are committed to helping you through this process as quickly and easily as possible to get you the assistance that you need.  We appreciate your business and thank you for partnering with Providence Bank & Trust.

For more information from the SBA, click here.

April 16, 2020 update


Lapse in Appropriations Notice: The SBA is unable to accept new applications at this time for the Paycheck Protection Program or the Economic Injury Disaster Loan (EIDL) COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding. 

Unfortunately, this means that we are unable to fund or approve any additional PPP loans at this time.  We will continue to work with our clients and update you as we continue to receive updates from the SBA. 

Click here for more information from the SBA.

April 2020 – Providence Bank & Trust participates in Paycheck Protection Program


Providence Bank & Trust is participating in the SBA Paycheck Protection Program (PPP) to assist our non-profit & small business community in accessing this vital capital source during these unprecedented times we are currently experiencing. In addition to the PPP, there is additional guidance and loan resources available to you through the SBA as well as the U.S. Department of The Treasury.

 

SBA Resources

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Coronavirus Relief Options

Paycheck Protection Program

 

U.S. Department of the Treasury Resources

How the Treasury Department is Taking Action

Assistance for Small Businesses

Paycheck Protection Program (PPP) Information Sheet: Borrowers

 

 

Our Relationship Managers are ready to help you navigate through these challenging times.  As a community relationship-oriented Bank, we have placed the utmost priority on assisting you through this process and getting your application submitted as quickly as possible. We are currently prioritizing applications for the PPP with our current customers.  As we continue to work through the high demand of these loans, we will continue to assess our ability to take on additional requests from non-profit and small businesses that do not currently have a relationship with our Bank.

 

Current Customers may contact us by calling 888-923-5664 or emailing info@providencebank.com.  Your inquiries will place you in the queue for your Relationship Manager to contact you regarding the PPP and assist you with any questions and/or concerns you may have within 1-2 business days.

 

We are committed to helping you through this process as quickly and easily as possible to get you the assistance that you need.  We appreciate your business and thank you for partnering with Providence Bank & Trust.