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2021 PPP Loan Applicants


We are now accepting applications for the Small Business Administration’s Paycheck Protection Program (PPP). This SBA forgivable loan program has been developed to assist small business in meeting payroll and other expenses. PPP loans require the borrower to certify that current economic uncertainty requires the funds to support their operations.
For customers that did not receive a PPP loan in 2020, you are again eligible under the First Draw Program. For customers that received a PPP loan in 2020, you are eligible for the Second Draw Program. This program is targeted at customers who had a reduction in revenue of 25% or more in 2020 as compared to the same quarter in 2019.

Click the link below to apply now.  This will lead you to our online PPP Application developed by StreetShares, a business partner of our core processing provider, Fiserv.  This online portal will guide you through the application process.


Please visit the following webpages for more information and instructions on the program from SBA.


2020 PPP Forgiveness Process


For customers that have received an SBA PPP loan from Bank of Brodhead in 2020, 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.
 
To apply for forgiveness of a PPP loan originated in 2020 click here:
 
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) 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.
 
 
 
 Additional helpful resources on forgiveness:
Fiserv portal video tutorial for borrowers Click Here
 
DISCLAIMER:

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.

Applications will only be accepted while the PPP is open and funding is available. It is possible that you may submit an application and PPP funds are no longer available, the PPP is discontinued, and/or technical communication difficulties prevent Bank of Brodhead from conducting transactions with the SBA’s website. In this case your application will not be submitted to the SBA. By submitting your application to Bank of Brodhead you acknowledge the PPP is administered by SBA and you agree to hold Bank of Brodhead harmless against any and all claims resulting from you not receiving a loan, funding, or forgiveness under the PPP.
 
Bank of Brodhead does not provide tax or legal advice. Please consult a competent, experienced, licensed professional for tax or legal advice.