Since the loan program's messy rollout last Friday, banks and other financial institutions are gradually coming online to lend to small businesses in need.
This article will be updated periodically so please check back for the latest.
The Small Business Administration’s Paycheck Protection Program loan launched on Friday, April 3—to a very mixed bag of results.
Banks and lenders were hard pressed to get systems and application processes in place before the deadline, having only received further guidelines about how to actually issue and process the loans late on the eve of the program’s launch. And as of early Friday morning, the day of the launch, only one major bank—Bank of America—was able to begin accepting applications on its portal.
Since then, several banks and other lenders have begun accepting applications. Here’s where you can currently apply:
Bank of America was the first major bank to get its portal up and running around 9:00am ET on Friday. Applicants can apply for the PPP loan on their site.
JPMorgan Chase followed suit about midday on Friday, opening up applications for small businesses, after initially telling customers they would not be accepting them on Friday. The bank’s website for accepting applications is currently down for improvement as of midday Monday, but you can apply here.
Wells Fargo was accepting expressions of interest in the PPP loans through April 5, and will begin accepting applications from that pool (the bank is not accepting any more expressions of interest at this time, according to their site). Wells Fargo notes on the site it will “provide updates in the coming days.”
Sunrise Banks is now accepting PPP loan applications on its site. You can apply here.
Silicon Valley Bank, or SVB, is participating in the SBA PPP loan program, and expects to begin accepting applications on Monday afternoon, April 6.
Ameris Bank is currently accepting PPP loan applications on their site. The bank services Alabama, Florida, Georgia and South Carolina, and has mortgage-only locations in Alabama, Georgia, Florida, South Carolina, North Carolina, Virginia, Maryland and Tennessee.
PNC Bank is currently accepting PPP loan applications from applicants with an existing business deposit or lending relationship with PNC, according to their site. You can apply here.
Atlantic Capital Bank, based in Atlanta, Georgia, is now accepting applications from existing customers. Applicants who are current clients and filled out an information request should now get emails with the application.
Celtic Bank, based in Salt Lake City, Utah, is accepting PPP loan applications on their site.
FirstBank, servicing Colorado with locations also in Arizona and California, is accepting PPP loan applications. You can download the application and send it to your FirstBank banker along with necessary documents, according to their site.
Peapack-Gladstone Bank is accepting applications from current clients now. See their site for details and the application.
First Commonwealth Bank is accepting application from existing business customers. You can apply here.
First Home Bank, based in Tampa, Florida, has currently suspended accepting applications for the PPP loan due to volume, but provides a contact form on their site if they resume accepting applications.
Blue Ridge Bank, based in Virginia, has now opened up its PPP loan application process. You can apply with an account with the bank here.
Midwest BankCentre is now accepting PPP loan applications. You can apply through your relationship manager or local branch, or apply through the bank’s site and email the application following the instructions.
US Bank is now accepting PPP loan applications from those who filled out an inquiry form on their site. The bank is starting with emailing current US Bank customers, beginning with single-owner businesses. The bank will be accepting non-US Bank client applicants as well, but encourages applicants to use a bank they have a relationship with.
West Town Bank & Trust is currently accepting pre-application forms for the PPP loan, and applicants will be sent an email once applications are accepted.
Univest Bank and Trust Co., headquartered in Pennsylvania, is currently accepting applications from current Univest customers only.
Old National‘s existing clients with an active account or loan prior to March 31 can apply for the PPP loan now. Applicants can also apply by contacting their existing Old National commercial loan officer.
Pinnacle Bank is now accepting applications for the PPP loan. The bank recommends reaching out to your Pinnacle financial advisor or a branch. You can find more information here.
Umpqua Bank, based in Oregon, was accepting PPP loan applications from current customers, but has since suspended acceptance due to a high volume. Prospective applicants can check back in here.
First United Bank applicants in Texas and Oklahoma can apply for the PPP loan here.
Fulton Bank is accepting PPP loan applications from existing business customers on their site.
America First Credit Union is accepting applications. You can apply on their site. The credit union requires applicants to have a current business account.
Fountainhead SBF, a non-bank lender, is also accepting PPP loan applications. According to their site, they are one of only 14 non-bank lenders licensed to make SBA 7(a) loans. You can apply for the loan on their site.
Ready Capital, a non-bank lender, is accepting inquiry forms for applications on their website.
Kabbage, a direct funding fintech, is also accepting Paycheck Protection Program loans. Applicants can apply on the fintech’s site.
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