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ION BANK IS ACCEPTING APPLICATIONS FOR THE CURRENT ROUND OF PAYCHECK PROTECTION PROGRAM LOANS

Businesses have two options for applying:

  • First Draw: for first time borrowers to the PPP program.
  • Second Draw: for those that previously received funds in 2020.

Apply Now

Have an existing PPP Loan with Ion Bank?
Loan Forgiveness Application

Or get more information on applying for a PPP loan below.

 

Icon PPP Information
PPP Loan Details
General application & key program updates.

 

 

Icon PPP Eligibility
Determine Your Eligibility
Find the loan option that fits your business.

 

 

Icon Ready to Apply for PPP
Ready to Apply
Get started with your application.

 

Paycheck Protection Program Details

The Consolidated Appropriations Act of 2021 has made available an additional $284 billion in funding for forgivable loans through the Paycheck Protection Program (PPP) for both first draw and second draw borrowers.The key updates include:

  • Provide an opportunity for businesses to receive a PPP loan if they did not apply in 2020
  • Allow existing PPP borrowers (except for borrowers who have already received forgiveness) to spend proceeds on additional forgivable expenses, including business software, personal protective equipment, and other operating or capital expense to comply with public health directives
  • Create an easier forgiveness process for loans under $150,000
  • Allow small and hard-hit businesses to apply for a second loan, known as “PPP Second Draw” loans

Determine Your Eligibility

Business Requirements for PPP loan

There are two different options to apply for PPP funding depending on your business needs.
Before you apply, please review the information below.

First draw PPP loan (PPP funding not received in 2020)

Second draw PPP loan (PPP funding received in 2020)

How to Apply

Please choose the appropriate loan below.

First draw PPP Loan Application

Second draw PPP Loan Application

If you have questions regarding the process, please call us at 203.729.4442.

Apply Now

For more information, please visit these links from the SBA.

Accessing Capital for Minority Underserved, Veteran and Women-Owned Business Concerns Guidance
Interim Final Rule #1 – PPP as Amended by Economic Aid Act
Interim Final Rule #2 – PPP Second Draw Loans
Procedural Notice: 5000-20074 PPP Forms (Modifications to PPP SBA Forms 3506, 3507 and 750 CA)
Procedural Notice – SBA Procedural Notice on Repeal of EIDL Advance Deduction Requirement


Proud Partner of Local Business

The entire team at Ion Bank has never been more determined and focused to do everything we can to help our customers navigate the challenges of COVID-19.

Above and Beyond
“When the PPP loan program was announced, the first people we reached out to were our partners at Ion Bank”
– Brandon Dufour,
Founder & CEO, The Next Street

Relief
“They got us approved and funded in record time”
– James McCowan,
Owner, J&M Automotive

Sustain
“We applied for the paycheck protection program through Ion Bank to help us sustain during this extraordinary time”
– Donna Palomba,
President & Founder, Jane Doe No More