Paycheck Protection Program
BankPlus is committed to serving small businesses, therefore we are participating in the Paycheck Protection Program (PPP). For an application, contact your BankPlus representative or visit your nearest location.
Visit the links below for resources regarding loan origination and forgiveness related to your existing BankPlus application.PPP Origination PPP Forgiveness
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.