PAYCHECK PROTECTION PROGRAM
PAYCHECK PROTECTION PROGRAM UPDATE
UPDATE: May 6, 2020 7:00 P.M. MT
Over the past several weeks, Vectra Bank has helped thousands of businesses receive much-needed funding through the Small Business Administration’s (SBA) Paycheck Protection Program.
As of May 6, Vectra Bank has obtained approval and/or funding for 3,171 loans totaling $486.4MM.
With funding for the Paycheck Protection Program still available, we are continuing to accept new applications. We are happy to accept new Paycheck Protection Program applications from any small business, independent contractor, self-employed individual or non-profit that qualifies and has not yet applied for a loan through this program.
As an SBA-preferred lender, Vectra Bank is well positioned to help you efficiently navigate the loan application process.
PLEASE NOTE: New applications that are incomplete and inaccurate, or do not include an accurately calculated and properly documented loan amount, requisite ownership and other eligibility information and an accurate 6-digit NAICS (North American Industry Classification System) code for your business, will not be processed. You will also be required to have a current transactional (e.g., checking) account with us bearing the same legal name under which your business applies for the loan, in order for us to deposit the loan proceeds.
The SBA has published important information about the Paycheck Protection Program. This information is updated frequently, and we recommend you refer to it periodically. Click here to visit the Treasury website (to which SBA information is posted), including Frequently Asked Questions posted under Program Rules, as well as other resources.
* Subject to SBA approval. Restrictions may apply. Contact a banker for details.