COVID-19 Updates

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COVID-19 Updates

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The Paycheck Protection Program Has Reopened

The Paycheck Protection Program is now open! In addition to initial PPP Loans, the Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan. 

 

The deadline to apply for a 1st Draw or 2nd Draw Paycheck Protection loan is March 31,2021. Please follow the link below for access to the most current PPP Application Form as well as information on the rule including eligibility requirements:

 

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

 

Yoakum National Bank has a team dedicated to handle the Paycheck Protection Program Loans. Please contact Jennifer Mancha or Melinda John to apply for a PPP loan, ask any questions and/or to be added to our email list to receive up to date information on the status of the Paycheck Protection Program. 

 

Jennifer Mancha
Main Line: 361-293-5225
Direct line: 361-541-6399
Cell Phone: 210-835-4253
Email jmancha@yoakumnationalbank.com.

 

Melinda John
Main Line: 361-293-5225
Email: mjohn@yoakumnationalbank.com

Paycheck Protection Program changes for Farmers and Ranchers!

Farmers and Ranchers who run their operations as sole proprietors, independent contractors, or otherwise self-employed individuals have newly expanded access to the Paycheck Protection Program (PPP) under changes made in the COVID stimulus package Congress approved last month.

 

Please contact Yoakum National Bank for additional information on the changes.

Paycheck Protection Program Forgiveness Guidance and Applications updated January 2021.

If you have received a Paycheck Protection loan, the SBA provided revised forgiveness applications in January 2021 and has also added additional revisions to the rule. For additional information on the forgiveness requirements and/or to locate the application, instructions and the rule go to:

 

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program/ppp-loan-forgiveness

Paycheck Protection Program Remains Open

The deadline to apply for a Paycheck Protection Program is June 30, 2020.

 

Please follow the link below for access to the most current PPP Application Form as well as information on the rule including eligibility requirements:
https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses

 

Yoakum National Bank has a team dedicated to handle the Paycheck Protection Program Loans. Please contact Jennifer Mancha to apply for a PPP loan, ask any questions and/or be added to our email list to receive up to date information on the status of the Paycheck Protection Program.

 

Jennifer Mancha
Main Line: 361-293-5225
Direct line: 361-541-6399
Cell Phone: 210-835-4253
Email jmancha@yoakumnationalbank.com.

Economic Injury Disaster Loans (EIDL) now Accepting New Applications

The Small Business Administration’s (SBA) Economic Injury Disaster Loans and Advance Program has been reopened to all eligible small businesses and non-profits impacted by the COVID-19 pandemic. For additional information and eligibility guidelines, go to:

 

https://www.sba.gov/funding-programs/disaster-assistance/coronavirus-covid-19

 

You can also download and view a press release with more information on the reopening of this program.

 

Download PDF

Paycheck Protection Program Forgiveness Process Application Updates Effective June 16, 2020

If you have received a Paycheck Protection loan, the SBA provided revised forgiveness applications on June 16, 2020 and has also added additional revisions to the rule. For additional information on the forgiveness requirements and/or to locate the application, instructions and the rule go to:

 

https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses