Paycheck Protection Program
With the passage of the latest stimulus bill on December 27, 2020, Congress reauthorized a second round of Payroll Protection Program loans to eligible small businesses that were not able to receive a PPP loan in the first round and those that previously received a PPP loan if the business has used the full amount of its first round PPP funds on eligible expenses. Businesses (including, sole-proprietors, independent contractors, and other self-employed individuals) with fewer than 300 employees are eligible for the Paycheck Protection Program.
With the second round of PPP loans, eligible expenses include payroll, rent, utilities, interest on mortgages, and additional expenses such as personal protective equipment for employees, costs associated with outdoor dining, supplier costs, costs associated with software, cloud computing and other human resources and accounting needs.
The deadline to apply for the new round of the Paycheck Protection Program loan is June 30, 2021.
We encourage you to contact your local bank or credit union for more information about filing, or view our list of member banks and credit unions below to learn more about their PPP and SBA loan options.
Centric Bank is accepting applications from our customers, AND businesses who are not customers of the bank already. Details of their PPP process are available HERE. Centric Bank has established a Centric Center for people to call if they have questions about their existing loan, or about this new round of lending. They can be reached at CentricCenter@CentricBank.com or 717.686.4973.