The next phase of PPP Loans are now available. Please click here for more information.

Online Banking

Close

Paycheck Protection Program

 

PPP Loan Applications

We are pleased to inform you that New Peoples Bank is participating in the next round of PPP funding recently approved by Congress to provide your business with the additional resources it needs during these difficult times.

Please click below to apply for your PPP Loan online. (Please note that the link does work better in Google Chrome or other modern internet browsers)

PPP Loan Online Application




If you have any issues with the link you can utilize the following applications to apply for a PPP loan and then submit it to your local NPB lender along with any supporting documents.

PPP First Draw Application

First Draw Application


PPP Second Draw Application

Second Draw Application




First Draw PPP Loan Information:


Businesses that did NOT receive a PPP loan in prior rounds, and have 500 or fewer employees are eligible, however there are exceptions.

Complete information on terms and eligibility requirements for the First Draw PPP Loan can be found on the SBA website.


Documentation needed to apply for a First Draw PPP Loan:

  • 2019 or 2020 IRS quarterly 940, 941, or 944 payroll tax reports
  • 2019 or 2020 payroll reports for a twelve-month period, which show the following:
    • Gross Wages for each employee, including officer(s) if paid W-2 wages
    • Paid time off for each employee
    • Vacation pay for each employee
    • Family medical leave for each employee
    • State and local taxes assessed on an employee's compensation
  • Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan
    • Include all employees and the company owners.
  • Document the sum of all retirement plan funding that was paid by the company owner(s);
    • Do not include funding that came from employees out of their paycheck deferrals
    • Include all employees and the company owners
    • Include 401K plans, Simple IRA, SEP, IRA's
  • K-1's for General Partnerships
  • 2019 or 2020 Form 1040 schedule C with supporting 1099-MISC detailing nonemployee compensation, invoices, bank statement, or book of record that establishes are you self-employed. You must provide a 2020 invoice, bank statement, or book of record to establish you were in operation on or around February 15, 2020.
  • 2019 or 2020 Form 1040 schedule F. You must provide a 2020 invoice, bank statement, or book of record to establish you were in operation on or around February 15, 2020.


Second Draw PPP Loan Information:


The Paycheck Protection Program now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan.

Business must have no more than 300 employees and demonstrate a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

Complete information on terms and eligibility requirements for the Second Draw PPP Loan can be found on the SBA website.


Documentation needed to apply for a Second Draw PPP Loan:

  • 2019 or 2020 IRS quarterly 940, 941, or 944 payroll tax reports
  • 2019 or 2020 payroll reports for a twelve-month period, which show the following;
    • Gross wages for each employee, including officer(s) if paid W-2 wages
    • Paid time off for each employee
    • Vacation pay for each employee
    • Family medical leave for each employee
    • State and local taxes assessed on an employee's compensation
    • Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan
      Include all employees and the company owners
  • Document the sum of all retirement plan funding that was paid by the company owner(s)
    • Do not include funding that came from employees out of their paycheck deferrals
    • Include all employees and the company owners
    • Include 401K plans, Simple IRA, SEP, IRA's
  • K-1's for General Partnerships
  • 2019 or 2020 Form 1040 schedule C with supporting 1099- MISC detailing nonemployee compensation, invoices, bank statement, or book of record that establishes are you self-employed. You must provide a 2020 invoice, bank statement, or book of record to establish you were in operation on or around February 15, 2020.
  • 2019 or 2020 Form 1040 schedule F. You must provide a 2020 invoice, bank statement, or book of record to establish you were in operation on or around February 15, 2020
  • If the loan amount is greater than $150,000, documentation demonstrating at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020;
    • 2019 and 2020 federal tax return
    • 2019 and 2020 company prepared income statements
    • 2019 and 2020 quarterly company prepared income statements

    Additional Resources:

    Below are some additional links to help guide you through the PPP loan forgiveness process.


  • Treasury's PPP Webpage

  • US Small Business Administration's PPP Webpage

  • PPP First Draw Loan Information

  • PPP Second Draw Loan Information



  • All of us at NPB trust that your PPP loan has helped to assist your small business. Please stay safe as we all navigate these difficult times.







EnableDisable Accessibility Mode

Close

Enable Accessibility Mode

Supporting visitors with disabilities is important to us so we've enhanced our site to increase contrast of some elements based on user preference.

Do you need high contrast styles?

Yes No, thanks