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Paycheck Protection Program (PPP) Update – 05-04-2021

by Matthew | May 4, 2021 | News & Announcements

As of May 4th, the SBA depleted all funds for PPP lending and abruptly shut the application portal. We are no longer accepting new applications for PPP funds. Should Congress decide to allocate more funds to this program, we will reopen the application process....

Paycheck Protection Program (PPP) Update – 03-23-2021

by Matthew | Mar 23, 2021 | News & Announcements

The PPP round 2 is scheduled to close on March 31st! FORGIVENESS – For first-round loans, all borrowers have been sent a forgiveness application to sign electronically. The SBA has forgiven 100% of the loans applied to date. TAX IMPLICATIONS – You need to work...

Paycheck Protection Program (PPP) Update – 01-11-2021

by Matthew | Jan 11, 2021 | News & Announcements

The PPP reopened Monday, January 11, 2021! FORGIVENESS – For loans under $150,000 there will be a new one-page form to sign for complete forgiveness. The SBA has until January 20th to release this form, so it is NOT available this week. Just as soon as it is...

Paycheck Protection Program (PPP) Update – 08-08-2020

by Matthew | Aug 8, 2020 | News & Announcements

UPDATE – 8/8/20: Since early April, Park State Bank and Trust has reviewed over 350 PPP applications, extending 215 loans to qualified businesses totaling over $5 million in needed assistance. This program allowed PSB&T to protect 1051 local jobs. If you have any...

Paycheck Protection Program (PPP) Update – 07-01-2020

by Matthew | Jul 1, 2020 | News & Announcements

UPDATE – 07/01/20: Since April, Park State Bank and Trust has reviewed over 300 PPP applications, extending 205 Paycheck Protection Program loans for a total value of just over $5 million. This program allowed PSBT to protect 1022 local jobs with this funding. As of...
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  • Paycheck Protection Program (PPP) Update – 03-23-2021
  • Paycheck Protection Program (PPP) Update – 01-11-2021
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