An additional $310 billion in new funds has been allocated to the PPP. The SBA started accepting applications again on Monday, April 27, 2020.
The Paycheck Protection Program (PPP) was established through the CARES Act for small businesses and nonprofits to apply for SBA loans. Here is the latest PPP Loan Application.
If you are an existing Northeast Bank business customer and interested in a PPP Loan, please complete the brief form below and we will send you an update when the PPP is accepting applications again.
For non-Northeast Bank customers, we invite eligible borrowers to leverage the Lendio national network of approved SBA lenders to submit your PPP Loan application and documentation at www.lendio.com.
Here are some things to note:
- Borrowers can submit their application to Lendio now in advance of the SBA reopening for applications.
- It is estimated that the process to submit the required information should take less than 15 minutes.
- All the required data and documentation for the PPP Loan Application will be collected.
- You will have the ability to attest to the required borrower certifications for a PPP Loan through this portal.
- Information submitted is encrypted and secured.
- Live help is available on the portal for borrowers with questions via chat, phone and email.
- Your loan application will be made available to a network of authorized and approved SBA lenders:
- PPP deals sent to the Lendio Network are taken on a first come, first served basis.
- There is an established network of approved SBA lenders in place.
- During the first round of PPP, over 70,000 PPP loans were approved through Lendio.
- Due to the high demand nationally for PPP Loans, we cannot guarantee when loan requests submitted via this portal will processed.
Again, applications submitted through the secure Lendio Portal will not be processed by Northeast Bank. They will be routed through the Lendio Lending Network to be picked up by an approved SBA Lender for processing.
You can access additional information about relief programs and resources on our website: HERE.