Paycheck Protection Program

The Paycheck Protection Program (“PPP”) recently authorized an additional round of $284 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis.

Savers Bank is ready to assist our current and new business customers in applying for the latest round of the Small Business Administration Paycheck Protection Program (PPP) loan program. The funds are limited and we recommend you apply quickly to insure allocation of funds. Please note, submitting an application does not guarantee approval. Below we have provided a brief overview of the PPP.

The CARES Act’s Paycheck Protection Program Loan offers small businesses another round of assistance during this unprecedented time. Under this program, the SBA backs small-business loans through local lenders.

All loan terms will be the same for everyone. Please visit sba.gov for more details on the program eligibility and requirement. We also recommend visiting the sba.gov website often as they are updating their site frequently for the latest guidance.

To start your applications, please select “Start My Application” to submit your PPP application for review. To start an application you must have a new or existing Savers Bank business checking account. You can call one of our convenient branch locations to open an account. Our local commercial lending team is also available if you need assistance by emailing them at commercial@saversbank.com.

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