On May 4th, 2021, the SBA announced that the funds allocated for Round 2 of the Paycheck Protection Program (PPP) have been exhausted and the SBA portal for applications is now closed. Therefore, CRBT can no longer accept applications for PPP.
On December 1, the Small Business Administration released public data about Paycheck Protection Program borrowers—specifically, the borrowers’ names, addresses, exact loan amounts and who their PPP lenders were. This was done by court order following lawsuits brought by media organizations seeking the data. We want you to know that we, as your bank, did not publicly disclose the data and played no role in the court decision. Our commitment to protect your privacy is paramount, and we follow all applicable laws and regulations. Unfortunately, we have heard that some third party businesses are using information from the court-ordered data release to market themselves to PPP customers. These communications may reference our bank’s name and may even imply that we have some kind of relationship. You should be aware that CRBT will communicate directly with you about your PPP loan and the forgiveness process. If you have any doubt, please call us directly at 319.862.2728.
CRBT SBA Paycheck Protection Program
Welcome to the Cedar Rapids Bank & Trust Paycheck Protection Program (PPP) information page. The PPP is a federal loan program administered by the Small Business Administration (SBA) that helps businesses affected by COVID. Under the PPP, businesses are eligible to receive an SBA loan to cover costs for payroll and certain other expenses and may be eligible to have the loan forgiven. As of May 4, 2021, the SBA funds allocated for PPP loans were exhausted. Therefore, CRBT can no longer accept new applications for PPP loans.
CRBT is proud to serve our communities as a SBA Paycheck Protection Program lender, helping clients with to obtain their PPP loans and with forgiveness of those loans. If you are visiting us to apply for forgiveness of your PPP loan, please click the button below:
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