CARES Act

First PREMIER Bank

Paycheck Protection Program (PPP) Loans

The CARES Act Paycheck Protection Program (PPP) allocated nearly $660 billion to assist small businesses, eligible organizations and self-employed individuals amid the COVID-19 pandemic and economic turndown. The program has seen several modifications since its initial passage and President Trump recently signed into law the Paycheck Protection Program Flexibility Act. This act created greater flexibility for the program and will result in a greater portion of PPP loans receiving full forgiveness. The legislation also provides an option to extend the time period for spending PPP funds to 24 weeks and reduces the payroll expenditure requirement from 75% to 60%.

Please note the PPP application deadline was June 30, 2020. Based upon recent guidance, we are preparing to assist you with the program’s forgiveness phase. In the meantime, we ask for your continued patience as we wait to receive SBA direction on how to submit forgiveness decisions for payment. Below you will find links to programmatic information and application forms. We will update this page as new information and guidance becomes available.

PPP Forgiveness
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Applications, Conditions and Documents

  • For loan forgiveness information and FAQs, CLICK HERE

 

To contact a First PREMIER Business Banker, visit our team page HERE or send an email to: cares@firstpremier.com.

For additional guidance related to PPP Forgiveness, contact your banker or one of our PPP specialists at 800-581-1304 between 8 a.m. and 5 p.m. CDT Monday through Friday or email us at: pppforgiveness@firstpremier.com.

SBAExpress, 7(a) and More

Fund growth with short-or-long-term, fixed or variable rate, secured or unsecured loans with great rates and terms. Qualified businesses enjoy no minimums and no prepayment penalties on loan amounts up to $5 million. Speak to a loan officer for more information.

SBA 504 Loans

Great for businesses interested in purchasing commercial real estate, refinancing and/or extracting equity from owned real estate. Low down payments preserve working capital.  Available funds support operation and investment back into your business. Find out more today. 

Speak to a Loan Officer Today

We can help you navigate the complicated lending landscape, find competitive loan products and help you apply. Click below to contact a loan officer near you.

A Proud Supporter of Business & Community

Serving Small Businesses

 

  • Attorneys, Accountants
  • Construction Firms
  • Consulting Practices
  • Independent Contractors
  • Medical and Dental Practices
  • Manufacturers
  • Retailers
  • Service businesses
  • Restaurants
  • And more
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Disclosure

{1} SBA loans are backed by the U.S. Small Business Administration.

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