America First knows that many businesses are facing challenges created by the COVID-19 pandemic. We can help businesses cut costs, manage their cash flow, or adapt to current circumstances, through timely business services including:
Important PPP Loan Application Update
The Small Business Administration (SBA) Paycheck Protection Program (PPP) officially ended on May 31, 2021. If you have an existing PPP loan, you may be eligible for loan forgiveness. Please see the PPP Loan Forgiveness section below for details and for information about beginning the forgiveness application process.
The SBA still offers a number of COVID-19 relief options, and you can find more information about them on the SBA’s website.
PPP Loan Forgiveness
The application portal for Small Business Administration (SBA) Paycheck Protection Program (PPP) loan forgiveness is open and available for submissions. The following resources will help you prepare for the application process:
The SBA is now accepting forgiveness applications for both first- and second-draw PPP loans. If it has been at least eight weeks since the funding date of your loan, you can apply for forgiveness. Once you have reviewed the resources above and collected the necessary documents, please proceed to the SBA PPP loan forgiveness application portal.
Once you have reviewed the resources above, and have collected the documents you will need to apply for loan forgiveness, please proceed to the SBA PPP loan forgiveness application portal.
If you have questions about the loan forgiveness application or your PPP loan, please visit the SBA’s official PPP web page or call our dedicated business hotline at 801-215-5557.
The IRS has also released information related to the SBA PPP loan forgiveness, which can be found in IRS Notice 2020-32.
America First is accepting both First and Second Draw PPP loan applications. To apply, you must be a Business Account Holder with America First. (Click here for a business application.)
Your business must have been in operation as of February 15, 2020 and not be permanently closed to be eligible for a PPP loan.
First Time Program Participants
Businesses who have previously received a PPP loan
Yes, however to obtain a 2nd draw PPP loan,
(1) Your 1st draw PPP Loan must be fully disbursed, and
(2) you have used, or will use, the full amount of the First Draw PPP Loan on or before the expected date on which the Second Draw PPP Loan is disbursed to the borrower, and
(3) the covered periods for a First Draw PPP Loan and a Second Draw PPP Loan cannot overlap. The minimum covered period is eight weeks.
Please note if you did not apply with America First for your first draw PPP loan, you will need to obtain your SBA loan number from your previous lender.
Member’s must apply through our online portal. Applications will not be accepted by email or at our branch locations.