Flexible Small Business LoansSBA Small Business Loans

The Small Business Administration offers several loan programs to help you grow your business by offering more flexible financing options, including a lower down payment and longer amortizations.

If you are looking to expand your business, purchase real estate and equipment, or need assistance with cash flow or succession financing our experienced lenders will guide you through this complex process every step of the way.

PPP Loan Program Update

SBA has announced that they have stopped accepting applications as funds have been exhausted in the general PPP fund. As part of the legislation funds were set aside for underserved borrowers. Funds are still available to some borrowers through certain small lenders, including both small banks and credit unions and CDFI’s. A list of those have been provided by SBA at the links below. If you have submitted an application with us and it is in process an email will be sent to you regarding the status of your specific application. 

• Community Development Financial Institutions
• Credit Unions
• Banks

IMPORTANT UPDATE: New SBA Paycheck Protection Forgiveness Application Information

If you received your loan in April or May of 2020 your first payment has been deferred to June 15, 2021. Under the Paycheck Protection Program Flexibility Act of 2020 borrowers were provided greater flexibility in choosing a longer covered period as well as an extension in the deferral period before the first payment.  SBA later released guidance that allows lenders to extend the maturity date without formally executing a change in terms agreement. If your first loan payment is coming due, you will receive written notice of the payment deferral via email.  

We are currently processing Forgiveness Applications in a queue. You will receive an email invitation to apply for forgiveness with detailed instructions specific to your loan approximately six weeks prior to your first payment due date.  

We are updating the forgiveness application submission portal and it will be available soon in this section of our website. If you have received your invitation, please compile the information requested. We will send an email to notify you when the portal has been opened for your forgiveness application. 

If you have any questions, please email us at [email protected]WESTconsincu.org.