We are committed to helping businesses who have been impacted by COVID-19. ACCESSbank is offering interest only options, payment deferrals and fee waivers where appropriate for commercial loan clients who request it.  Please contact your banker to complete the necessary paperwork. If your current situation demands something different, our business bankers can customize a solution to meet your needs.  

Paycheck Protection Program Potral Status

January 15, 2021 at 10:54 am -We have encountered issues that affect a portion of users. We are working rapidly to resolve the underlying problem. We apologize for the inconvenience and thank you for your patience.

Paycheck Protection Program (PPP) News | Applying for Round Two:

January 15, 2021: The Paycheck Protection Program portal is now open to lenders with $1 billion or less in assets to begin processing both new and second draw loan applications. ACCESSbank will only accept applications for this round of PPP loans via our online platform. We will send out the application link to apply for the second round of PPP once we are able to start accepting round two applications.
If you are new to ACCESSbank and want to learn how to apply for a PPP loan, connect with our Commercial Team today.

First-time PPP Borrowers:

Second-time PPP Borrowers:

The second round of PPP will close on March 31, 2021. If your business already received a PPP loan during the first round, you may be eligible for a second round loan IF you utilized all first round PPP funds appropriately and experienced a 25% drop in revenue in 2020.  Below is a summary of the second round parameters:
  • Applicants must demonstrate at least a 25% decrease in revenues measured in one of two ways:
    • A 25% revenue drop in one quarter of 2020, compared to the same quarter in 2019.
    • A 25% annual revenue drop in 2020 compared to 2019 (this option can be utilized for borrowers who do not complete quarterly financial statements).
  • New loans are capped at $2 million, versus $10 million previously.
  • Applicants must have no more than 300 employees, versus 500 previously.
  • Previously receiving a PPP loan will not alone disqualify a borrower from applying.
  • Using 2019 payroll or the prior 12 months payroll, borrowers can apply for 2.5 times the average monthly payroll. Restaurants and other hospitality businesses are eligible for 3.5 times the average monthly payroll.  To be eligible for the 3.5 times payroll, your business must have a NAICS code that begins with 72. Click here to learn more
  • If you did NOT receive a PPP loan in Round 1, the requirements for you to apply will be generally the same. Visit the Treasury Website for more information on first-time applications.
  • ACCESSbank will only accept applications for this round of PPP loans via our online platform. We will send out the application link to apply for the second round of PPP once we are able to start accepting round two applications.

December 29, 2020: Recently, the House and Senate passed legislation to supply the latest round of COVID-19 relief, authorizing more than $900 billion in economic aid to small businesses and consumers—the second largest stimulus in history, behind only the CARES (Coronavirus Aid Relief and Economic Security) Act that Congress enacted in March.

Simplified Forgiveness Application. While legislation has been enacted to simplify the Paycheck Protection Program (PPP) Forgiveness Application for those borrowers with loans under $150,000, the SBA has not released an updated form to accommodate the change. We anticipate this to occur during the first half of January 2021 and would recommend you delay applying for PPP forgiveness until these changes are complete in order to simplify both the application and review process.


December 7, 2020: As a result of a court order following lawsuits brought by media organizations seeking the data, the Small Business Administration (SBA) released public data on December 1st about Paycheck Protection Program (PPP) borrowers—specifically, the borrowers’ name, address, exact loan amount and who their PPP lender was.

We want you to know that we, as your bank, did not publicly disclose the data and played no role in the court decision. Our commitment to protect your privacy is paramount, and we follow all applicable laws and regulations.

Unfortunately, we have heard that some third-party businesses are using information from the court-ordered data release to market themselves to PPP customers. These communications may reference ACCESSbank’s name and may even imply that we have some kind of relationship.

You should be aware that we will communicate directly with you about your PPP loan and the forgiveness process. If you have any doubt, please call us directly. As always, our commitment is to your business’s financial health. 

Paycheck Protection Program (PPP) Forgiveness: 

Forgiveness Information for PPP Loans less than $50,000

The Small Business Administration released a streamlined loan forgiveness application for Paycheck Protection Program loans totaling $50,000 or less.

The simplified forgiveness application, Form 3508S, includes certifications from the borrower but does not require calculations to be submitted with the application. Applicants must submit documentation verifying forgivable payroll and non-payroll expenses. Borrowers are required to retain the documentation supporting their certifications for six years.

We are in the process of sending the forgiveness application link to all customers who have a PPP loan less than $50,000. If you have questions, please contact your Business Banker.

Forgiveness Portal Instructions

Loan Forgiveness Form (3508S)    Loan Forgiveness Instructions (3508S)

Forgiveness Information for PPP Loans from $50,000 or greater.

The Small Business Administration (SBA) Paycheck Protection Program (PPP) Forgiveness Platform opened and started accepting forgiveness applications on August 10, 2020.  

We have sent the forgiveness application link to all customers who have a PPP loan in excess of $50,000. If you are unable to locate this email, please contact your Business Banker.

Forgiveness Portal Instructions

Loan Forgiveness Form & Instructions (3508)    Loan Forgiveness Instructions (3508EZ Form)

Extended Deferral Period

The Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act) extended the deferral period for borrower payments of principal, interest, and fees on all PPP loans to the date that SBA remits the borrower’s loan forgiveness amount to the lender (or, if the borrower does not apply for loan forgiveness, 10 months after the end of the borrower’s loan forgiveness covered period). The extension of the deferral period automatically applies to all PPP loans.

Lenders are required to give immediate effect to the statutory extension. The Small Business Administration does not require a formal modification to the promissory note. 

Paycheck Protection Program (PPP) Knowledge Center

For helpful tips on the basic guidelines and concepts related to the Paycheck Protection Program (PPP), please visit the knowledge center. 

PPP Knowledge Center

Emergency Injury Disaster Loan (EIDL): 

This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. Click here(Opens in a new Window) to learn more. 

To explore options for your business, connect with our business banking team.


Additional Tools & Resources

  • For modifications to existing SBA loans or Emergency loans needed as a result of COVID-19, click here.
  • For assistance with understanding options to help prevent layoffs of employees, click here. 

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what our clients are saying

"Hats off to ACCESSbank for being there for me during the entire PPP application process. At a time when small businesses need more help than ever, ACCESSbank was there."  - Guinio Volpone, Owner of Concierge Live
"I would like to thank Mike Corrigan at ACCESSbank for his help and advice over the last several weeks. If you're looking for a banker that will email you on a Saturday night for help with paperwork due on Monday, Mike is your guy." - Robert Miller, President of CenterPoint Group, Inc.
Thanks to ACCESSbank's help with obtaining PPP funds, we can ensure our employees will receive their wages and continue to service clients as normally as possible. I would like to thank Jacques Smith, Taylor Severin, Paul Holubeck, Brittani Clatanoff, and the rest of the team that assisted us. We look forward to working with you in the future." - Kris Roath, President, Sirkdot