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Paycheck Protection Program

Loan Application & Loan Forgiveness Information 

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

The U.S. Small Business Administration is prioritizing applications from employers with fewer than 20 employees from February 24 to March 10.

Does your business fit this description? Welcome to our PPP page. We’ve made it easy to apply for a PPP loan or PPP loan forgiveness from our website. Scroll down this page for more details on how the most recent COVID relief legislation impacts PPP eligibility and loan forgiveness, instructions for applying for loan forgiveness and an alert about email fraud.


Help Spread The Word. 

If you know someone running a small business hit hard by COVID-19, make sure you mention they are the focus for federal relief from Wednesday, February 24 to Wednesday, March 10. Encourage them to apply through their bank or give Heritage Bank a call. Business owners who might not understand how PPP funds could help them include sole proprietors and small companies your company depends on for specialized services and products, or even small business owners you frequent as a consumer. Let’s make sure we all help the smallest of small companies survive the pandemic.

Learn more about the PPP rules have changed to open opportunities for more super small businesses and sole proprietors.

What Does This Mean For Companies With 20 or More Employees

If you are considering applying for a PPP loan, please contact your Heritage Banker. We can answer questions about qualifications and help you identify the paperwork you’ll need for a smooth application. Starting March 10, your application will be ready to submit. The overall application process with the SBA is running much faster than the first round of PPP lending, and Heritage Bank has automated its process to ensure working through us is easy and efficient.

Who Do I Contact If I'm Not a Heritage Bank Customer? 

Indiana and Kentucky: Steven Caddell at (859) 869-2450
Ohio: Lance Smaltz at (513) 538-6331 

What About PPP Loan Forgiveness?

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


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

SBA 3508 SBA 3508EZ SBA3508Z                                               

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                                                                                 


  • 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.

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 address. Contact Heritage Bank with questions about PPP-related emails.

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