SBA Staggers Roll-Out of PPP Loans

SBA Staggers Roll-Out of PPP Loans

January 8, 2021 – The $284 billion restart of the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) will officially reopen Monday, January 11, 2021, targeting only “first-draw” loans from businesses that have yet to receive a PPP loan, and only accepting applications from lenders signaled by SBA as “community financial institutions (CFI).”  

Firstrust Bank does not fall under the definition of a CFI, which includes Community Development Financial Institutions, Minority Deposit Institutions, Certified Development Companies and Microloan Intermediaries. 

We are proactively working towards opening up a PPP loan application portal to begin accepting loans. When we are ready to accept PPP loan applications, we will let you send you an email alert.

In the meantime, continue to visit the COVID-19 Resource Center. We will be posting updates and adding resources and guides to help streamline your PPP application experience.