SBA Paycheck Protection Program

The SBA has released their Paycheck Protection Program Loan Forgiveness Application which can be found here. As the rules are still fluid, we encourage you to visit the US Treasury and SBA websites for full details.

Please continue to check back for the most updated information.

The SBA has officially announced the reopening of the Paycheck Protection Program application process. On April 24, 2020, an additional $310 billion of funding was added to this program to assist small business owners, and a minimum of $60 billion of this funding has been set aside for community banks.

Due to the high demand for this program, we encourage you to return your completed application to Pinnacle Bank as soon as possible.

If you’ve already submitted your application to Pinnacle Bank, you do not need to submit another copy. Our team has already begun working on applications we’ve received.  

To start preparing your application, find the official SBA application here and a full list of required documentation here

Please know that we are working as quickly as possible to process the Paycheck Protection Program applications; however, due to the unprecedented amount of funding requests across the United States, the allocated funds will be depleted quickly and some applications may not be processed.

Please visit the Treasury's FAQ for the latest guidance and other guidelines regarding eligibility for Paycheck Protection Program loans.  This FAQ also provides clarification on a number of topics including forgiveness, affiliation rules, qualification and rules around large companies (FAQ #31).