Paycheck Protection Program

BankPlus is committed to serving small businesses, therefore we plan to participate in the next round of the Paycheck Protection Program (PPP) funding. We will post additional information as soon as guidance is published by the SBA. Please contact your BankPlus representative or your nearest BankPlus location for information regarding the next round of PPP funding.

First Time PPP Borrower

  • Expands eligible borrowers to include housing cooperatives, newspapers, broadcasters, and radio stations.
  • Excludes publicly traded businesses.

Second Draw PPP Borrowers

  • Maximum loan amount of $2,000,000.
  • Available to businesses with 300 or fewer employees.
  • Available to businesses that sustained a 25% drop in revenue for any 2020 quarter versus the same quarter in 2019.
  • Available to businesses that have used 100% of the initial PPP loan.

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