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Paycheck Protection Program

Loan Application & Loan Forgiveness Information 

We're Here. For Businesspeople & Farmers Navigating COVID-19. 

We’re making it fast and easy to apply for PPP loans and loan forgiveness. Companies with 1 to 300 employees hit hard by COVID-19 may be eligible. Deadline for applications is May 31.

We processed more PPP loans in 2020 than any other locally owned community bank. Turn to us for an easy and fast online application process. Contact us if you have questions about PPP.

APPLY FOR PPP LOAN

Learn How Eligibility for PPP Loans Has Expanded
Learn More About Eligibility for Farmers
Learn More About First-Time PPP Applications
Learn More About Second-Time PPP Applications
Learn More About Loan Forgiveness

Heritage Bank is here to help small businesses survive the pandemic and set them up to thrive during the recovery. Whether you’re a long-time customer or someone just learning about Heritage Bank, don’t hesitate to reach out with questions.

Steven Caddell SMALL

Steven Caddell                 

Phone Number: (859) 869-2450
Email Steven

C-Bankers - Lance Smaltz

Lance Smaltz

Phone Number: (513) 538-6331
Email Lance

What About PPP Loan Forgiveness?

Go ahead and apply for PPP Loan Forgiveness through our convenient online portal.

 APPLY FOR PPP LOAN FORGIVENESS

Instructions on how to complete your forgiveness application can be found at the links below:

SBA 3508 SBA 3508EZ SBA3508S                                               

Updated PPP Loan Application Guidelines

The COVID relief bill signed into law at the end of December 2020 includes approximately $285 billion for additional PPP lending and streamlined forgiveness. Loans are available to qualified applicants whether they are first-time borrowers or 2020 borrowers still experiencing COVID- related financial distress. The program’s criteria, loan forgiveness limits and qualified expenses are different from the first PPP legislation. 

New Eligibility Changes -- Expanding Access To More Small Businesses
  • Sole proprietors, independent contractors and self-employed individuals may be eligible for more financial support than in previous rounds due to revisions in the PPP funding formula.
  • A bipartisan congressional proposal to eliminate restrictions on individuals with prior nonfraud felony convictions has been approved.
  • Small business owners with student loan debt delinquency are no longer ineligible.
  • Non-citizen small business owners who are lawful U.S. residents may use their Individual Taxpayer Identification Numbers (ITIN) to apply.

First Time PPP Borrowers

Loan Amount Based On Payroll Expenses
Up to $10 million, 5-year term maximum.

Qualified Expenses
Payroll costs, mortgage interest and payments, utilities, interest on pre-existing debt and operating expenses, property damage, supplier costs and worker protective equipment.

Loan Forgiveness Eligibility
Borrowers must apply for forgiveness through their lender and provide required documentation. SBA requires that at least 60% of funds be used for payroll expense in order to qualify for forgiveness.

Second Time PPP Borrowers                                                                               

Requirements

  • Received a PPO loan in 2020 and applied all funds toward qualified expenses.
  • Employ no more than 300 people.
  • Document a 25% or greater reduction in gross revenue from 2019 quarters to comparable 2020 quarters.
Loan Amount Based On Payroll Expenses                                                                                                                              Up to $2,000,000, 5-year term maximum. 

Qualified Expenses
Payroll costs, mortgage/lease interest and payments, utilities, interest on pre-existing debt, operating expenditures, property damage, supplier costs, worker protective equipment.

Loan Forgiveness Eligibility
Borrowers must apply for forgiveness through their lender and provide required documentation showing 100% of the funds were applied to qualified expenses. SBA requires that at least 60% of funds be used for payroll expense in order to qualify for forgiveness. A streamlined process for forgiveness up to $150,000 has been approved.

LEARN MORE ABOUT PPP LOANS FOR FARMERS
For more information, review FAQs on the web sites of federal agencies responsible for overseeing the PPP Program.

Small Business Administration

U.S. Treasury

 We encourage you to consult with your accountant or legal counsel.

Beware Of Email Fraud.

Please be extra diligent. PPP borrowers are being targeted by email fraudsters. All legitimate SBA emails are sent from a sba.gov address. Contact Heritage Bank with questions about PPP-related emails.

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