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SBA Paycheck Protection Program (PPP)

BLC will continue to support our nation's small businesses which are facing an unprecedented economic disruption due to the Coronavirus (COVID-19) outbreak. The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll.


PPP Loan Forgiveness

PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

  • Employee and compensation levels are maintained
  • The loan proceeds are spent on payroll costs and other eligible expenses; and
  • At least 60 percent of the proceeds are spent on payroll costs

Download Loan Forgiveness Applications and Instructions:

Form 3508S (under $50,000)

 

* Information adapted from sba.gov and is current as of January 14, 2021. BLC Community Bank is a federally insured SBA 7(a) loan program approved lender.

Meet Our PPP Lenders

Our experienced lenders are ready to provide you with personal, friendly service to help you obtain the PPP financing you need.