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Business Banking

Paycheck Protection Program

Nearing Max funds:

The current new allotment of $310 billion in PPP funds is approaching maximum availability. If you wish to continue to submit your application, please be advised funds may no longer be available from SBA.

Government releases an additional $310 billion in SBA loans for the Paycheck Protection Program Loan for businesses.

Savers Bank is ready to assist business customers in applying for the Small Business Administration Paycheck Protection Program (PPP) loan program. The funds are limited and we recommend you apply quickly to insure allocation of funds. Please note, submitting an application does not guarantee approval. Below we have provided a brief overview of the PPP.

The CARES Act’s Paycheck Protection Program Loan offers small businesses a source of assistance during this unprecedented time. Under this program, the SBA backs small-business loans through local lenders.

The Paycheck Protection Program (“PPP”) authorized an additional $310 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. Please visit sba.gov for more details on the program eligibility and requirement. We also recommend visiting the sba.gov website often as they are updating their site frequently for the latest guidance.

To start your applications, please select “Start My Application” to submit your PPP application for review. To start an application you must have a Savers Bank business checking account. You can call one of our convenient branch locations to open an account. Our local commercial lending team is also available if you need assistance by emailing them at commercial@saversbank.com.

Find a Savers Bank branch location near you. Savers Bank Branch Locations

Apply for a Paycheck Protection Program loan.


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