Find Community Banks That Can Help You With a PPP Loan


PAYCHECK PROTECTION PROGRAM LOANS

Small businesses & nonprofits: get help making payroll & rent through the Paycheck Protection Program

The Paycheck Protection Program (PPP) – a SBA loan that helps businesses keep their workforce employed during the COVID-19 crisis — has been expanded. Applications are being received now. Apply via a bank that is eligible to extend U.S. Small Business Administration 7(a) loans.

Below is a link to all banks eligible to make PPP loans, based on public data. You can filter your search by geography to see banks near you or your business. Not all banks are accepting new customers. See below for updates on how to navigate this information.


More information from the Department of the Treasury

In addition to the PPP loan, other loans available from the Small Business Administration. For more information, visit the SBA’s website.

Updated 07-02-2020:

  • Money is still available from the SBA for businesses looking for PPP loans. Many smaller loans are left to be funded. Community-focused banks specialize in working with small businesses to make these types of small business loans

  • If you currently have an application in with your current bank, it’s worth connecting with a banker to learn if your application has been submitted to the SBA, or if it’s held up in review because it’s determined to have missing information, or if it hasn’t been reviewed yet. If your application has been submitted to the SBA, your best path is to continue with your current bank. If it hasn’t, we’ve heard of people having luck in reaching out to smaller banks focused on working with small businesses in their geography to see if they have the capacity to help. These banks will sometimes be able to go above and beyond to help local small businesses, because doing so is their mission and expertise.

  • Many banks specialize in working with underserved populations — banks specializing in serving communities of greatest economic need (those operating within low to moderate income census tracts), and those focused on building Native American equity, African American equity, Hispanic American equity, Asian American equity, and women’s equity. Consider reaching out to these banks if your organization is part of one of these underserved communities to access resources for information and help. You can search for these banks using the above button.

  • Remember: while you may be interested in finding a right-sized relationship bank for your business long-term, you may want to balance this with looking for where your application may be able to be processed the fastest. We’ve heard of small businesses having luck submitting applications to online lenders — so you may want to get an application in there while following up with banks in your area to identify if those banks can serve your business now and/or into the future. Read more in our blog: Three Things the Paycheck Protection Program Teaches Small Businesses and Nonprofits about Bank Relationships

 

Accepting applications from new customers across the US (while capacity lasts)

OPTUS BANK

When you bank with this bank, 65% of your money is invested in communities · funds African-American Equity + 3 other causes · money is based in South Carolina

Email bank via Mighty

Apply for a PPP loan

Accepting applications from cooperatively-owned organizations across the US (while capacity lasts)

NATIONAL COOPERATIVE BANK

77% of your money is invested in communities · funds Sustainability + 2 other causes · money is based in Ohio

Assistance by email/phone:

  • Financial hardship questions

  • Homeowner’s assistance for those with difficulty making mortgage payments

  • Loan restructuring options for commercial customers

  • Banking requests,

Email bank via Mighty

Accepting applications from new customers across the US (while capacity lasts)

VISTA BANK

See bank profile on Mighty

Apply for a PPP loan

Accepting applications from new customers across the US (while capacity lasts)

Square

Kabbage

Radius Bank

Sofi

BlueVine

Lendio

 

Accepting applications from individuals, nonprofits and businesses within the following counties: California Alameda, Contra Costa, Sacramento, Sonoma, Marin, Napa, San Francisco, Santa Clara, San Mateo, Los Angeles, Tulare, Kern, Fresno Oregon Clackamas, Multnomah, Washington, Yamhill Washington Clark, King, Thurston, Pierce, Snohomish.

BENEFICIAL STATE BANK

See bank profile on Mighty

Apply for a PPP loan

Due to high demand, new customer applicants will be limited to those that support or manage activities that are mission-aligned or mission-neutral. Please visit the bank’s Foundation site to learn more about the bank’s Harm to None commitment.

Accepting applications from businesses in Alamosa, Colorado (while capacity lasts)

FIRST SOUTHWEST BANK

When you bank with this bank, 67% of your money is invested in communities · funds Small Business + 3 other causes · money is based in Colorado

See bank profile on Mighty

Apply for a PPP loan

Welcomes inquiries from small businesses in Chicago, Illinois and Northwest Indiana

PROVIDENCE BANK & TRUST (SBA eligible lender for Paycheck Protection Program)

77% of your money is invested in communities · funds Small Business + 3 other causes · money is based in Southside Chicagoland + Northwest Indiana

Assistance by phone:

  • Financial hardship questions

  • Banking requests

  • Safe deposit box access

Online / Drive-Thru Services:

  • Open new accounts online

  • Make mobile deposits & loan payments

Email bank via Mighty

Welcomes inquiries from small businesses in Chicago, Illinois

BURLING BANK (SBA eligible lender for Paycheck Protection Program)

90% of your money is invested in communities · funds Small Business + 3 other causes · money is based in Chicago

Assistance by phone:

  • Financial hardship questions

  • Banking requests

Online & Mobile App Services:

  • Inquire about opening up a new account via remote

  • Make mobile deposits & loan payments

  • View transactions & check balances

  • Find a surcharge-free ATM

Email bank via Mighty 

Accepting applications from businesses in Oklahoma (while capacity lasts)

CITIZENS BANK OF EDMOND

See bank profile on Mighty

Apply for a PPP loan

May be accepting applications from new customers in Virginia (while capacity lasts)

VCC

See bank profile on Mighty

Apply for a PPP loan

May be accepting applications from new customers in Washington DC (while capacity lasts)

CITY FIRST BANK

Your money funds Sustainability, Areas of Greatest Need + Small Business · money is based in DC

Assistance by phone:

  • Financial hardship questions

  • Speak to a live customer service agent 24/7, from anywhere

Contact bank via Mighty

OTHER BANKS THAT MAY BE ACCEPTING NEW PPP LOANS, AS OF 5/21/2020
Inquire with the bank to learn if there are any geographic restrictions.

 

READ MORE

Recent coverage of Mighty helping people find banks making PPP loans in Next City and Forbes