2021 PPP Loan Applicants
PPP Funding has run out for all new applications. Feel free to call the Bank of Brodhead and speak to Adam Sommer with any questions regarding the program.
- Paycheck Protection Program (PPP): [https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program]
Paycheck Protection Program
- First Draw PPP Loans [https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program/first-draw-ppp-loans]
First Draw PPP Loans
- Second Draw PPP Loans [https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program/second-draw-ppp-loans]
Second Draw PPP Loans
2020 PPP Forgiveness Process
For any PPP loans written in calendar year 2020 please call Adam Sommer if you have not submitted a forgiveness application.
2021 PPP Forgiveness Process – COMING June 15, 2021
For customers that have received an SBA PPP loan from Bank of Brodhead in 2021, we will be utilizing an online portal for the preparation of the SBA Application for Forgiveness (SBA Form 3508, 3508 EZ, and 3508S) as well as for uploading of supporting expense documentation.
Borrowers will receive an invitation to apply for forgiveness when eligible. For borrowers without access to email, our lenders will reach out when you are eligible for forgiveness to start the process. Any questions should be direction to Adam Sommer.
The Treasury and SBA have created and published updated resources (https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program#section-header-5(opens in a new window)) for borrowers regarding the program. You may find the following information helpful to you as you plan what expenses to pay with the PPP loan proceeds and any other actions you need to take to maximize your loan forgiveness.
- SBA Application for Forgiveness (SBA 3508)(opens in a new window)
- SBA Application for Forgiveness EZ (SBA 3508 EZ)(opens in a new window)
- SBA Application for Forgiveness (SBA 3508S)(opens in a new window)
Information provided is on the PPP administered by SBA. Loan terms are set by the SBA and may be subject to change at any time by SBA without notice to you or the Bank of Brodhead. Approvals are subject to SBA requirements at the time of loan origination. Loans are subject to the availability of funding by SBA. PPP details provided by Bank of Brodhead are accurate as of the time of posting and are subject to change by the SBA solely at their discretion and without notice to your of the Bank of Brodhead. The most up to date information is available on the SBA website.