PPP News & Updates
The White Hours has released reforms to the Small Business Administration (SBA) Paycheck Protection Program (PPP). A 14-day period during which only certain businesses may apply begins Wednesday, February 24, 2021. Read the full press release.
We will post updates as the SBA provides additional guidance.
On January 19, 2021, the Small Business Administration (SBA) released new guidance and forms for the Paycheck Protection Program (PPP) loan forgiveness process. Among the changes are new forgiveness application forms.
If you haven’t yet applied for loan forgiveness, you may want to consider waiting until we clarify the most recent guidance and update our process and forms accordingly. If you have applied and did not receive a decision, we will continue to process your application and contact you by email if additional information is required.
We are now accepting PPP applications. Visit our PPP Applications page to view requirements and apply.
The SBA has announced that banks, including Fulton Bank, can begin submitting PPP first and second draw applications beginning Tuesday, January 19, 2021. Continue to check back for updates.
The SBA, in consultation with the U.S. Treasury Department, opened the Paycheck Protection Program loan portal to participating CFIs on Monday, January 11, 2021 at 9 am ET. CFIs include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries.
The SBA has not yet announced when larger banks, including Fulton Bank, will be permitted to take PPP applications.
Continue to check back for updates as additional information becomes available.
On December 27, 2020, legislation was enacted adding additional funding and making other changes to the Small Business Administration (SBA) Paycheck Protection Program (PPP). We recognize how important this program is to businesses like yours and want to provide an update.
- Fulton Bank will be a participating bank.
- Our PPP team is diligently working to develop our process as information continues to come in from the SBA on the guidance for this program.
- We anticipate applications will be accepted soon.
- Our customers will receive an email communication when our application is available.
- We will continue to update our website so check back often.