Important Updates to the Paycheck Protection Program (PPP)
The PPP Extension Act of 2021 was signed into law in March 2021. This legislation allows SBA to continue to receive applications until May 31, 2021 and to review applications until June 30, 2021, subject to funds being available. Funds are expected to be exhausted before these deadlines.
At this time, First State Bank’s lending team is committed to assisting the businesses, farmers, non-profit organizations, and other eligible borrowers who have recently applied for PPP loans. Please contact us for more updated information on processing times and available funding if you are interested in a PPP loan.
First Draw PPP Loans
If you have not received a PPP loan before, a First Draw PPP Loan may be available to you.
Second Draw PPP Loans
If you have previously received a PPP loan, certain businesses may be eligible for a Second Draw PPP Loan.