Paycheck Protection Program Loan
We are currently processing new Paycheck Protection Program loan applications. You are more than welcome to fill out an application; you will be in the queue as we continue processing applications.
Here is the Small Business Administration - PPP Loan application to fill out: Click here:
Message from Ken Bertrand, President and CEO of Allied First Bank
I’m encouraged to see businesses start to rebound and continue to be impressed by the resilience and dedication of so many small business owners in our community.
We continue to work with the SBA on the Paycheck Protection Program and Forgiveness as it makes updates and improvements.
Business owners now have more time and flexibility to spend PPP funds to qualify for forgiveness. And the new 3508EZ forgiveness application form will make it easier for some businesses. We’ll let you know when you can start to apply.
You may be able to use the EZ form if you meet one of the following:
• Are self-employed and have no employees
• Did not reduce the salaries or wages of your employees by more than 25% and did not reduce the number or hours of your employees
• Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of your employees by more than 25%
We’ll help you navigate the process, including whether you can use the new 3508EZ form.
We’ll keep in contact with the SBA and expect to start accepting Forgiveness requests for Paycheck Protection Program loans by mid-August. Remember you’ll need to request Forgiveness through the lender that funded your PPP loan.
Please don’t worry about rushing to apply for Forgiveness; it’s most important now to take the time to focus on your business and document your PPP spending through your Covered Period.
If there’s a portion of your loan that is not forgiven, payments won’t be due until the after the SBA has made their Forgiveness decision or remits the funds or 10 months after the end of your Covered Period.
We’ll keep providing you with the very latest information. Please continue to check here for the latest updates.
Best wishes and be SAFE! Enjoy the start of summer.
If you are not receiving emails from us about Forgiveness, please check your spam folder and email privacy settings.
OPEN A BUSINESS ACCOUNT
Please fill out this Business Account Application to get started:
In addition to the online form above, we will need a copy of the following:
• A copy of a photo ID (driver’s license, passport) and a secondary ID (social security card, birth certificate, firearm card) for each signer.
• Copy of the Department of Treasury EIN form
• Articles of Organization from the Secretary of State
• Copy of the Operating Agreement
Minimum of $250.00 to open the account
Plus Support Documents to Open New Business Account to upload, click or go here:
PLEASE NOTE: Your Paycheck Protection Program Loan Forgiveness Application will not be processed until all required supporting documents are uploaded and will be added to the queue for review.
SECURE FILE UPLOAD
ShareFile allows you to send us sensitive documents in a secure and encrypted fashion with no limitation on document size to the bank without making a trip to our brick and mortar location.
Support Documents for PPP to upload, click or go here:
Providing Allied First Bank with any documents through this secure document upload, portal or through any other means does not create automatic government funding or guaranteed loans. Still, by submitting your documents through this secure portal you are added to the queue for us to review your documents with a staff member assigned to your file.
We hope this helps, if not please contact us for more information or answers to your questions.
(630) 554-8899 or CustomerService@AlliedFirst.com