On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021.  This Bill authorizes approximately $284 billion in new funding for first and second forgivable PPP loans. The Small Business Administration (SBA) is currently working to build program guidance and processes. We are accepting applications now. Please review the information below - 
 
If you have any questions, please don't hesitate to reach out to at Covid-19sbaloans@vapartnersbank.com
 

CARES Act Information

Small businesses and eligible nonprofit organizations, veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.


First Draw PPP Information Second Draw PPP Information

The new PPP funding allows business to take out “first draw” PPP loans through March 31, 2021 (or until the SBA’s funding for such loans runs out). If you did not receive a PPP loan the first time around, please check out the links below:

For more details about who is eligible for this program and more information, a topline overview about the First Draw PPP can be found  HERE

An application for the First Draw PPP loans can be found HERE

We are accepting applications. Please review the information and submit your application by emailing it to us at Covid-19sbaloans@vapartnersbank.com

The new PPP funding will allow certain PPP borrowers to obtain a second loan from the Paycheck Protection Program, called a “second draw” loan. The "second draw" loans will be available for smaller and harder-hit businesses.

For more details about who is eligible for this program and more information, a topline overview about the Second Draw PPP can be found HERE

An application for the Second Draw PPP loans can be found HERE

We are accepting applications. Please review the information and submit your application by emailing it to us at Covid-19sbaloans@vapartnersbank.com  

  •  For more information about the Paycheck Protection Program, please visit the SBA Program Page HERE
  • A list of FAQs can be found HERE

Virginia Partners Bank/Maryland Partners Bank is an approved SBA Express Lender and a designated SBA 7(a) lender and we stand ready to support you.