Small Business Administration Paycheck Protection Program

April 27, 2020

April 27, 2020

The SBA/PPP portal opened up at 10:30am on April 27th to start receiving applications again. Please know, if you are a customer who has already submitted an application for this funding, that we are working diligently on processing your applications for approval. Our lenders will be in touch with you if they should have any questions about your application. 


April 24, 2020

On Thursday, April 23, the House approved additional funding for the PPP CARES Act benefit. Once the legislation is signed by President Trump and the application portal is opened, we will then begin to process applications that were submitted to our bank before the funds were depleted on April 16. After those applications have been processed, we will then follow with any applications we have received since then. We are committed to helping your business during this time. We appreciate your patience and understanding as we work through this system. 

April 17, 2020

At this time the SBA PPP funds have been exhausted and the government is no longer accepting applications for this CARES Act benefit.

We are very optimistic that this program will receive additional funding. If the program is reactivated, we will submit applications that were in process before the funds were depleted and then follow with applications that have come in after the April 16th date.

We encourage you to contact your lawmakers to emphasize that more funding is needed right away.  


April 3, 2020

During these unprecedented times, we know that many businesses are experiencing increased difficulty with remaining open, supporting employees and still paying the bills. The Napoleon State Bank is available to help our customers access and navigate the Small Business Administration (SBA) Paycheck Protection Program (PPP), which provides the funding customers may need to support their business and employees.
 
We are continually evaluating the guidance published on April 2, 2020 from the SBA and the U.S. Treasury as it continues to change daily. We encourage our customers to visit https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses  for detailed information for borrowers, a borrower application form and the latest information put out by the SBA.
 
The Napoleon State Bank is committed to caring for our customers, and we are here to help navigate this evolving program to ensure the continued success of our customer’s businesses now and into the future. As always, please reach out to your local branch with any additional questions.
 
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