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SBA Paycheck Protection Program

Now Accepting Round 2 Applications

The Federal Government has added an additional $284.6 billion in Paycheck Protection Program (PPP) funding for loans to small businesses, including for borrowers who have previously received a PPP loan. Kish Bank will again be supporting local businesses impacted by COVID-19 through the next round of the Paycheck Protection Program loans and forgiveness.
   

 

Kish Portal Login Instructions


The Kish Bank Online PPP Portal is used for both new loan applications and loan forgiveness. The loan application process has been fully automated from start to finish for a simple, easy experience with a digital application, e-signatures, and electronic document submission.

At any time, applicants and past borrowers can return to our Portal and enter their login credentials in the “Pick up where you left off” box to the right.

 

Returning Kish PPP Borrowers Applying for Round 2

Please review the Second Draw Eligibility below to understand the 25% revenue loss requirement and other changes to the program. Please understand that due to major changes by the SBA, many documents you provided in Round 1 will be required to be uploaded again in Round 2. You will also be required to upload organizational documentation for the SBA even though Kish Bank may already have it on file. This will greatly speed up the process of submission and approval through the new SBA portal.
  • Accessed Before: If you previously accessed the Kish Portal for your Round 1 forgiveness application, please use the same credentials (email and password) by clicking Sign In.
  • Never Accessed: If you have not yet accessed the Kish Portal for your forgiveness application, that is okay. Round 1 borrowers do not need to complete forgiveness before applying for Round 2. Simply click here to sign up and register by providing your email and a password. You will use these credentials to login later to complete your forgiveness application.


New PPP Borrowers to Kish Bank

Please see the below to understand how to calculate your loan amount and what documentation you will need. If this is a Second Draw loan, please see the Second Draw Eligibility below to understand the 25% revenue loss requirement and other changes to the program.

Click here to sign up and register by providing your email and a password.

Please note that Kish Bank will be giving priority to our existing borrowers and all local businesses in our market area of Mifflin, Juniata, Huntingdon, Centre, and Blair Counties. If you have any questions, please email us at [email protected].

 

Existing Kish PPP Borrowers Applying for Loan Forgiveness

Please note that recent changes in the program have simplified the forgiveness process for loans up to $150,000, and the SBA has announced the use of Form 3508S for simplified forgiveness below $150,000. See Forgiveness Information below for more information.

If you have not yet accessed the Kish Portal for your forgiveness application, follow the instructions below. If you have logged in to apply for a Round 2 loan, use the same credentials and click on "Start a Forgiveness Application," and start at Step 2 below.

View our full PPP Forgiveness Instructions document for detailed instructions.
 
Step 1:

Click on the following link to access the Kish Bank Forgiveness Portal: https://kishbank.lenderscooperative.com/ (We recommend the use of the Chrome or Edge Web Browser.)

Step 2:

Enter the Company Tax ID number or Social Security number (Sole Proprietors) into the EIN or SSN box.

Step 3:

Enter the SBA Loan Number (with no dashes) into the SBA Loan Number box. You can find the loan number at the bottom of page 4 of your loan Note document. This number will also be emailed to the primary signer on the loan documents.

Step 4:

Click on “Find Your Loan” and verify it by selecting the correct loan amount.

Step 5:

Complete your login by entering an email address and password. (Note, if you are accessing multiple loans, you should use the same email and password.) Now you are ready to begin the forgiveness process.


Please take note of these special points about Portal Users:

  • Multiple individuals can create their own individual portal login for the same company, and share access to the forgiveness application.
  • One individual can access forgiveness applications for multiple loans. Follow the steps below for each loan and be sure to use the same email and password every time. You will then be able to toggle between different loans.


If you have questions, please use the secure communication function built into the portal to communicate with your Kish Bank forgiveness reviewer. If you have more general questions or if you have any issues logging in, please email [email protected].

 


 

Program Details

(NEW UPDATES for Forgiveness, EIDL, and Round 2 Eligibility)


Types of PPP Loans

There are two types of PPP loans:
  • "First Draw" Loans – loans made to businesses who did not apply for (or qualify for) PPP loans during the first two rounds in 2020
  • "Second Draw" Loans – loans made to borrowers who originally received PPP funds in 2020 and who have fully used the proceeds of those loans

The process of applying for new PPP Loans will be different depending on which of these two types of loans you are applying for. Both will be handled through our Online PPP Portal, and the entire application and approval process will happen electronically. We plan to accept applications through the expiration of the PPP Program on March 31, 2021.

 

Document Checklist

To be prepared to apply for loans through our PPP Portal, use the following checklists to gather all relevant documents:
 

Second Draw Eligibility

You're a business, independent contractor, eligible self-employed individual, sole proprietor, nonprofit organization, veteran’s organization, Tribal business concern, housing cooperative, small agricultural cooperative, eligible 501(c)(6) organization, or eligible nonprofit news organization that:
  • Has 300 or fewer employees, unless you're a business that satisfies the North American Industry Classification System (“NAICS”) code beginning with 72 or an eligible news organization with more than one physical location.
  • Received a First Draw PPP Loan and have used, or will use, the full amount of the First Draw PPP Loan on or before the expected date on which the Second Draw PPP Loan is disbursed to the borrower.
  • Experienced a revenue reduction of 25% or greater in any one quarter of 2020 relative to the same quarter in 2019. You will be required to show evidence of this drop in revenue.
The maximum loan amount is 2.5 times the average monthly payroll based on the 2019 calendar year or a one-year look back, capped at $2 million. Hotel and Restaurant businesses (NAICS code starting with 72 - Accommodations and Food Services) can receive 3.5 times average monthly payroll, capped at $2 million.

 

Forgiveness Information

We are currently accepting forgiveness applications through our Kish Bank Forgiveness Portal (instructions above), and processing them through the SBA.

Recent legislation added several expenses to what is allowable and forgivable. Covered operations expenditures, covered property damage costs, covered supplier costs and covered worker protection expenditures. Existing First Draw Loans that have not been forgiven can include these new eligible expenses as part of their forgiveness applications, for which the period has been extended to March 31, 2021.

The simplified forgiveness process for all loans under $150,000 is still available. This application is called Form 3508S (S being for simple). We know this may be confusing as they are also still using Form 3508EZ (EZ being for easy), and the original Form 3508 full application. Please refer to the following for clarification:
  • The new Form 3508S is only used for loans under $150,000*.
  • The Form 3508EZ should be used for loans over $150,000 where the FTE count has been maintained and no one employee has been paid less than 75% of their normal wages (exemption rules apply).
  • The full Form 3508 must be used for all other borrowers.

*Please note, applications for loans under $150,000 which have already been started or submitted using form 3508EZ or the full application do not need to be changed or resubmitted, unless you wish to do so.

The new legislation also extended the deferral period for borrower payments on all PPP loans to the date that SBA remits the borrower’s loan forgiveness amount to the lender (or, if the borrower does not apply for loan forgiveness, 16 months after the end of the borrower’s loan forgiveness covered period). Previously, the deferral period could end after 10 months. Kish Bank recently processed a system-wide update that extends all PPP deferments from 10 months to 16 months. The SBA does not require a formal modification to the promissory note. For more information on these changes please read below.

 

Changes to the EIDL Advances

The new legislation repeals the section of the CARES Act that requires PPP borrowers to deduct the amount of their EIDL advance from their PPP forgiveness amount, clarifies this change is retroactive to the start of CARES, and requires SBA to make borrowers whole if they have already received forgiveness and the EIDL Advance was deducted from that amount.

PLEASE NOTE: The SBA will be working directly with Kish Bank to send the adjustments for borrowers who received partial forgiveness for a PPP loan due to a EIDL advance. Kish Bank will be required to process these adjustments and re-amortize the PPP loan, and return any funds used to paydown or payoff the loan. The SBA has not determined when they will do this, and Kish Bank is working on a process for how we will return funds to borrowers. We will update this as the SBA provides more information.

 

SBA Information Sharing

On November 5, a federal judge ordered the Small Business Administration (SBA) to release the names, addresses, and precise loan amounts for all Paycheck Protection Program (PPP) loan recipients and all COVID-19-related Economic Injury Disaster Loan (EIDL) recipients. The SBA did not appeal the ruling and publicly released this information on December 1.

It is important for PPP borrowers to understand that this was not a decision made by Kish Bank, nor was Kish Bank the origin of the information shared by the SBA.

After the data release, the American Bankers Association was made aware that some third-party businesses were using the publicly released data to solicit business from PPP borrowers, specifically referencing the name of the lending institution—in some cases not disclosing that they are unaffiliated with the PPP lender, while others are implying a business relationship with the bank where none exists.

PPP borrowers are encouraged to consult with their financial advisers, attorneys or Commercial Relationship Managers about their PPP loan and the forgiveness process. Borrowers should be very wary of responding to unsolicited communications or sharing information about their PPP loan with businesses or individuals not affiliated with their bank.

Kish Bank will continue to support small business customers and do our part to help spur the economic recovery and limit the economic damage from this pandemic.

If you have questions, please contact your Commercial Relationship Manager.

For more information on COVID-19-related small business guidance and loan resources, please visit: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

 

 


 

Additional Resources


We have added the following sections for your reference.
 

Reference Tools

SBA & Treasury Guidance

Contact and Support Information

Please contact your relationship manager or email us at [email protected].

 

Paycheck Protection Program Flexibility Act

SBA, in consultation with Treasury, will promptly issue rules and guidance, a modified borrower application form, and a modified loan forgiveness application implementing these legislative amendments to the PPP.  These modifications will implement the following important changes:

Extend the covered period for loan forgiveness from eight weeks after the date of loan disbursement to 24 weeks after the date of loan disbursement, providing substantially greater flexibility for borrowers to qualify for loan forgiveness.  Borrowers who have already received PPP loans retain the option to use an eight-week covered period.

  • Lower the requirements that 75 percent of a borrower’s loan proceeds must be used for payroll costs and that 75 percent of the loan forgiveness amount must have been spent on payroll costs during the 24-week loan forgiveness covered period to 60 percent for each of these requirements. If a borrower uses less than 60 percent of the loan amount for payroll costs during the forgiveness covered period, the borrower will continue to be eligible for partial loan forgiveness, subject to at least 60 percent of the loan forgiveness amount having been used for payroll costs.
  • Provide a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees for borrowers that are unable to return to the same level of business activity the business was operating at before February 15, 2020, due to compliance with requirements or guidance issued between March 1, 2020 and December 31, 2020 by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to worker or customer safety requirements related to COVID–19.
  • Provide a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees, to provide protections for borrowers that are both unable to rehire individuals who were employees of the borrower on February 15, 2020, and unable to hire similarly qualified employees for unfilled positions by December 31, 2020.
  • Increase to five years the maturity of PPP loans that are approved by SBA (based on the date SBA assigns a loan number) on or after June 5, 2020.
  • Extend the deferral period for borrower payments of principal, interest, and fees on PPP loans to the date that SBA remits the borrower’s loan forgiveness amount to the lender (or, if the borrower does not apply for loan forgiveness, 10 months after the end of the borrower’s loan forgiveness covered period).

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