We’re Here to Help
Determining the most appropriate assistance program for your small business due to the impact of the
COVID-19 pandemic is one of the many challenges you face as a Small Business Owner. On December
21st, Congress approved a comprehensive bill as a provision related to the Paycheck Protection Program (PPP), and it is our intention to help you be prepared. The SBA has also extended the application deadline for their Economic Injury Disaster Loans (EIDL) Program until 12/31/2021.
Key PPP Updates
The new bill included the following expansions and changes:
For first-time borrowers, PPP loans will be available to businesses with 500 or fewer employees that
have not previously received a PPP loan to help with payroll, rent, utilities, healthcare costs, and more.
Second-time borrowers are generally eligible for a loan if the borrower:
See info on the right for access to PPP applications and helpful resources...
Applying for Assistance
Depending on which assistance package you ultimately select, the U.S. Small Business Administration (SBA) and/or VeraBank, N.A. will provide the conduit to receiving assistance funds. For more information, choose from the options below, or call us at 877-566-2621.
First-time PPP Borrowers
Second-time PPP Borrowers
Please submit your applications to firstname.lastname@example.org.
The Independent Bankers Association of Texas (IBAT) has provided a detailed summary of the Paycheck Protection Program updates.
We will continue to communicate program updates as we get additional information on the program from the SBA. In the meantime, please contact your banker if you have questions or need more information.
This reflects the most current information available at this time. However, since the SBA guidance may update frequently, we encourage you to continue to monitor the SBA guidance releases for the most up-to-date information.