LATEST NEWS – January 19, 2021
The new coronavirus relief package provides another $284 billion for the Paycheck Protection Program (PPP) in 2021. These funds are allocated for both new PPP borrowers and additional money to 2020 PPP loan recipients. In addition, updates to further simplify PPP loan forgiveness are coming soon for borrowers with PPP loans up to $150,000.
The Small Business Administration re-opened its doors for accepting PPP applications on January 11, 2021 with a phased-in approach for lenders, beginning with designated community development institutions. Civista Bank began submitting completed customer applications from the Civista PPP Portal on Tuesday, January 19, 2021.
The online Civista PPP Portal guides borrowers step-by-step through completing the application, uploading supporting documentation and electronically signing loan documents following SBA approval - no paper applications!