Which banks are ready for the Paycheck Protection Program?
The below list will continue to be updated as more information is made known. Sources of information include Gusto Payroll Service and users. This information should not be taken as legal or financial advice. Since rules and regulations change over time and can vary by location, consult a legal or financial advisor for specific guidance.
Participating Banks
1st Bank
Suspended applications. More information.
America First Credit Union
Suspended new applications. More information.
Ameris Bank
Suspended new applications. More information.
Bank of America
Accepting applications only for existing customers who also have taken out a loan or a credit card with hem. From Bank of America: "You may be seeing reports that the Small Business Administration (SBA) has said the initial $349 billion in the Paycheck Protection Program has been committed. In hopeful anticipation that additional funds are provided by Congress, we will continue to process applications." More information.
Bank of George
Suspended applications. More information.
Bank of Hope
Suspended new applications. The Bank will shortly notify applicants on the status of their PPP applications received by Bank of Hope. More information.
Bank of the James
May have suspended new applications. More information.
Bank of the West
Suspended new applications. More information.
BBVA USA
Suspended new applications. More information.
Berkshire Bank
Suspended new applications. More information.
BMO Harris
Suspended new applications. More information.
Byline Bank
Suspended new applications. More information.
Cadence Bank
Appears to have suspended new applications. More information.
Capital One
Still accepting applications. More information.
Celtic Bank
Still accepting new applications. More information.
CenterState Bank
Still accepting new applications. "As the current Paycheck Protection Program has ended, we are no longer taking registrations or applications. Should the Program resume, we will notify you then." More information.
Citi Bank
Accepting applications from existing customers only. From the bank: "On April 16, 2020, the Small Business Administration announced that funding for its Paycheck Protection Program had been fully allocated. However, at this time, we are continuing to accept and process applications from our Small Business Banking clients. If you decide to submit an application at this time, we will hold that application for processing for up to 30 days in the event that additional SBA funding becomes available under the same terms and conditions. There can be no assurance that additional funding will become available or that it will be available under the same terms and conditions" More information.
Citizens Bank
Accepting applications; existing customers only. Existing customers can contact their Citizens Bank relationships manager to start an application. More info here.
Commonwealth Business Bank
Accepting applications from existing customers only. From the bank: "Due to the overwhelming demand for small business relief amid the COVID-19 pandemic, the Small Business Administration Paycheck Protection Program (PPP) has exhausted its $350 billion supply of stimulus funding sooner than it had expected. Due to this development, we will continue to take applications but cannot commit to funding." More info here.
Cross River Bank
Still accepting new applications. From the bank: "Cross River Bank will be accepting new applications but will be unable to offer any commitments on underwriting approvals and timing until Congress approves additional funding." More info.
Fifth Third Bank
Suspended new applications. From the bank: "Given the overwhelming number of applications already submitted to Fifth Third Bank and other lenders across the United States, and the limited dollars available through the SBA Paycheck Protection Program, it is highly likely that not every qualified applicant will receive funding. An application has no guarantee of receiving funding if the resources allocated to the Paycheck Protection Program run out." More info.
First Bank
Still accepting applications. From the bank: "IMPORTANT INFORMATION: We are processing applications as quickly as possible to help as many of our customers as we can and look forward to helping you under the PPP. We will leave the application link accessible provided funding for the PPP continues to be available. Funding of your loan is not confirmed until we receive a confirmation from the SBA that funds have been reserved for your business. Thank you for your patience." More info.
First Commonwealth Bank
Suspended new applications. From the bank: "We are processing Paycheck Protection Program applications that were received by April 15, 2020 and are no longer accepting new applications at this time. This will allow us to be relentlessly focused on the customer applications that we have in process. We are also anxiously awaiting additional federal funding to support the CARES Act." More info.
First Home Bank
Suspended new applications. More info.
First IC Bank
Suspended new applications. More info.
First Republic Bank
Suspended new applications. More info.
First Savings Bank
Not accepting applications. More info.
First United Bank
Suspended new applications. More info.
FirstBank
Suspended new applications. More info.
Five Star Bank
Suspended new applications. More info.
Fountainhead SBF LLC
Suspended new applications. More info.
Frost Bank
Suspended new applications. More info.
Fulton Bank
Accepting new applications. More info.
Fundera
Still accepting applications. More info.
Hana Small Business Lending
Not participating. More info.
Hanmi Bank
Suspended new applications. More info.
Harvest Small Business Finance
Suspended new applications. More info.
Huntington National Bank
Suspended new applications. More info.
Idaho Central Credit Union
Still accepting applications. More info.
Incredible Bank
Suspended new applications. More info.
Independent Bank
Still accepting applications; existing customers only. From the bank: "At this time the SBA has stopped approving new loan requests under the Payroll Protection Program due to lack of funding. However, we are still accepting applications from current customers and will submit to the SBA for approval if additional funding becomes available." More info.
Intuit QuickBooks
Accepting new applications. From Intuit: "We are actively monitoring the situation, and hope more funding will become available. We recommend that you complete your application now with QuickBooks Capital. If and when we are able, we will submit your application to the Small Business Administration." More info.
JPMorgan Chase
Suspended new applications. More info.
Kabbage
Still accepting applications. More info.
Key Point Credit Union
More info.
Key Bank
Suspended applications. More info.
Liberty Bank
Suspended new applications. More info.
Live Oak Bank
Suspended new applications. More info.
Manufacturers and Traders Trust Company
Suspended new applications. More info.
MetroCity Bank
Suspended new applications. More info.
Midwest BankCentre
Suspended new applications. More info.
Midwest Regional
Not participating. More info.
Navy Federal Credit Union
Seems to still be accepting applications; existing customers only. More info.
NewTek Small Business Finance
Still accepting new applications. From the company: "We are processing PPP loans. However, given the backlog, we cannot guarantee that a submission will be handled in any reasonable time." More info.
Old National
Suspended new applications. More info.
Open Bank
Not accepting applications. More info.
Pacific City Bank
Not accepting applications. More info.
Pacific West Bank
Suspended new applications. More info.
PayPal
Still accepting applications. From them: "The initial $349B in funding allocated by the US Government for the Paycheck Protection Program has been depleted. We will continue to accept new loan applications and process existing applications for submission to the SBA in anticipation of additional funding for the program." More info.
Peapack-Gladstone Bank
Accepting applications; existing customers only. You must be a current Peapack client to apply. From the bank: "In preparation for potential new funding, please visit our new PPP Online Loan Application to submit your information. It's quick, easy and fully-automated, and will allow businesses and banks to more quickly move through the SBA application process toward loan approval." More info.
Pinnacle Bank
Suspended applications. More info.
PromiseOne Bank
Not currently participating. More info.
Radius Bank
Suspended new applications. More info.
Ready Capital
Suspended new applications. More info.
Seacoast Commerce Bank (via Kabbage)
Accepting new applications. From the bank: Kabbage is still accepting and reviewing PPP loan applications
The SBA is not currently accepting new PPP loan applications. Based on our contact with the government, we're confident more funds will be available soon.** We're continuing to review applications so there's no delay in processing once additional funding is approved. More info.
Silicon Valley Bank
Suspended applications. More info.
Solera National Bank
Accepting applications. From the bank: "We’re currently working with two different banks to provide these loans. Select your bank from the options below to get started." More info.
Stearns National Bank
Suspended applications. Will likely not open up for applications even after second round of funding. From the bank:"We understand your business may need immediate financial help. Due to the unprecedented demand for a limited supply of SBA funding, we recommend you reach out to another lender for PPP loan assistance." More info.
Sunflower Bank
Suspended applications. More info.
Sunrise Bank
Suspended new applications. More info.
TD Bank
Suspended applications. From the bank: "The U.S. Small Business Administration has announced that funds under the Paycheck Protection Program (PPP) have been exhausted; therefore, we are no longer accepting PPP applications. In the event that additional PPP funding becomes available, we will communicate more information at that time."
More info.
Truist (BB&T/Suntrust)
Suspended new applications. More info.
U.S. Bank
Suspended applications. More info.
Umpqua Bank
Suspended applications. More info.
Union Bank
Not participating. More info.
United Community Bank
Accepting some applications. From the bank: "We are currently accepting new PPP applications for small businesses who have registered to receive an application link. Our goal is to help as many small businesses as possible, but we anticipate that this second round of funding will run out very quickly. We will process as many PPP loans as is humanly and technologically possible before funding is once again exhausted. " More info.
United Midwest Savings Bank
Still accepting applications; existing customers only. More info.
Univest Bank and Trust Co.
Suspended new applications. "More info.
VelocitySBA
Suspended new applications. More info.
Wells Fargo
Still accepting new applications. From the bank: "In anticipation of additional approved funds, Wells Fargo continues to take and prepare customers’ PPP loan applications for submission to the SBA."
More info.
West Town Bank & Trust
Suspended applications. More info.
Zions Bank
Still accepting applications. From the bank: "We are happy to accept new Paycheck Protection Program applications from any small business that qualifies and has not yet applied for a loan through this program. To begin your application, please contact your local Zions Bank branch or call our Contact Center at 1-888-307-3411."
More info.