PPP Loan Program – Application Acceptance Update
Wednesday, January 13th—We are pleased to announce Oregon Pacific Bank is now accepting applications from existing clients for the SBA’s Paycheck Protection Program (PPP).
Today the SBA has announced they will start accepting applications from financial institutions on Friday, January 15th. Oregon Pacific Bank has decided to accept applications starting Wednesday, January 13th, to help our clients prepare for the Friday opening date and subsequently allow for our clients to obtain PPP financing as soon as possible.
We are utilizing an online application portal to make the experience easy and convenient for you.
- If you are currently a client of Oregon Pacific Bank and would like to apply for a PPP Loan, please contact your relationship banker to access our online application portal.
We understand the urgent need that many of our business clients have for these economic relief funds, and our team is doing everything we can to streamline this process efficiently for you.
As mentioned in our previous communication, the SBA’s approval turnaround time will be longer than before. Previously, the SBA would issue an approval immediately after successful submission. SBA approvals for all lenders and borrowers could take one to five business days with this round. This is a significant change by the SBA, but we will continue to operate as we did in the past and with the same goal of submitting applications to the SBA on the same day a completed application is received.
If you have any questions or need any help with the application process, please don’t hesitate to reach out to your local relationship banker at any time. We are here to help in any way can.
Thank you again for placing your trust in us.