February 11, 2021 | Business Success

Applying for Your First PPP Loan? Here’s What You Should Know

For information about the February 24 through March 9 exclusive PPP application access window for businesses with fewer than 20 employees, as well as other changes upcoming to the program click here.

 

As you prepare to apply for your first PPP loan, here’s a quick Q&A to help you better understand the program.

The U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) provides much-needed economic relief for qualifying small businesses at a time when they need it most. We’re here to help; our PPP application process is open, and we issued over 17,000 PPP loans worth over $2 billion to small businesses in 2020 alone.

If you’re considering applying for your business’s first PPP loan, below is a quick Q&A video with some of our experts to get you the information you need to help you have a smoother application process.

Topics covered include,

  • The types of businesses eligible to apply.
  • The types of expenses that may be covered.
  • Information you should have on-hand before applying.
  • How loan amounts are determined (especially for businesses with only one employee).
  • Tips for completing your application.

Applying for Your First PPP Loan through Umpqua Bank

  • If you’re already an Umpqua Bank customer, you can access the application web portal through your Online Banking account or from your local banker or store.
  • If you’re not an Umpqua Bank customer, you can request information about a first PPP loan application from one of our bankers or stores in your area. Click here to schedule an initial appointment.

More Information

The following are links to additional resources referenced in the video above: