vectra bank ppp loan application

On December 28th, 2020, posted in: Uncategorized by

Login to your Customer Portal Customer Account. Bank of the Sierra VECTRA MEDICAL, INC. received a Paycheck Protection Loan of $104,015 through Bank of the Sierra, which was approved in April, 2020. You can only compare three products at a time. Launched April 2, the initial funding was … These favorable loan terms are the same for everyone who applies and is approved as long as they satisfy two requirements: It's important to note that payroll costs are capped at $100,000 for each employee on a yearly basis. 120% higher than Vectra Medical, Inc.'s reported 5 employees, and received an average PPP loan of $102,098, 2% lower than this company's loan of $104,015. These third-party websites are not affiliated with Vectra Bank or Zions Bancorporation and may have a different privacy policy and level of security. You will also need to use a . With the loan, small businesses are expected to pay their employees during the COVID-19 pandemic. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. On April 3, 2020 small businesses and sole proprietorships were encouraged to apply for and receive PPP loans through existing Small Business Administration lenders, the Treasury explained. According to the Steamboat Springs Chamber, Yampa Valley Bank, Alpine Bank, Vectra Bank and Mountain Valley Bank filed 800 applications for businesses, which resulted in $62 million for Routt County. Toll Free ( 800) 737-6620 All rights reserved. A local lending officer will help you complete the loan application package. Many businesses have had to cut down on their operations whether by necessity or state regulations. For example, for loans up to $350,000, the lender would receive a 5% origination fee; the agent who’d helped prepare the application would receive 1%, which would come out of that 5%. Funding opportunities highlighted by Community Resource Center . Step 3. So far, Vectra Bank has processed 3,642 loans for a total of $482 million. The SBA approved of 41,635 PPP loans worth more than $7.39 billion for Colorado-based small businesses. 8] As of April 5, 2020, this was the right loan application for SBA Section 7(a) Loans under PPP, though the forms have not been clearly date/time stamped and there were several iterations so … If your bank is not offering PPP loans, consider the following Colorado and national lenders that are accepting applications from non-customers or may work with new customers on a limited basis. The deadline to apply for a Paycheck Protection Program (PPP) loan has been extended to August 8, 2020. The biggest change is that the loans … Unselect an account or use clear all to start over. “My accountant informed me that I was obliged to pay a tax of $ 45,000 on my phantom income because of the’income’of the forgiveness part of the PPP loan,” … Vectra Bank Colorado Residential Lending Group NMLS #467014. Applicants may apply online using the Electronic Loan Application (ELA) ... PPP, and other federal loans and programs. In fact, more than 87% of the PPP loans administered by Vectra Bank have been made to businesses with fewer than 50 employees. Vectra Bank Colorado, his commercial bank, still hadn’t opened its online loan application site as other banks pumped out billions of dollars in emergency loans. As a community bank that serves a number of clients in the mountain resort community, officials expect that many will benefit from a second loan. Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. (Your privacy is important to us—see our Privacy Notice). The Colorado Sun received a PPP loan. Loans at $50,000 and below made up 12% of the $525 billion total approved for small businesses. Certification requirements are more stringent than those you needed to qualify for the loan, and if you just observe how the landscape is evolving, more uncertainty is on its way. Member FDIC | Equal Housing Lender. For five days, Steven Marks, who runs a counseling practice, has waited anxiously to apply for a loan under the new federal Paycheck Protection Program. We are well positioned to help small businesses efficiently navigate the loan application process, so contact us today to learn more. Additionally, applicants should include information on mortgage, lease and utility obligations that may be covered by the loan as well. PPP Loan Account Setup You can not set up a bank type account as a loan, call it wht you will but it is still treated as an asset. The PPP is helping small businesses pay their employees as part of the coronavirus relief plan. STEP 3: Sign Up and Log In. 1. His federal Paycheck Protection Program loan contained an unexpected string. Oxnard, CA, Pure Sports Medical Corporation Vectra Bank Colorado, his commercial bank, still hadn’t opened its online loan application site as other banks pumped out billions of dollars in emergency loans. For businesses with fewer than 500 employees, PPP can provide the financial assistance needed during these times to help keep companies running. The loan amount was used to cover payroll costs (and most mortgage interest, rent and utility costs) over the 8 week period the loan was made. Rates and products offered may differ from state to state. A division of Zions Bancorporation, N.A. Step 1. Vectra Bank Colorado, his … Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods. for each loan requested. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. PPP Loan - Banks Accepting Applications. Oxnard, CA. 2. Click here to apply. La Mer Psychiatric Medical Group April 2, the initial funding was … Quotes are vectra bank ppp loan application affiliated Vectra. Applying for a full explanation of PPP loan and below made up %!, lease and utility obligations that may be delayed up to 20.... Information loan … a local lending officer will help you complete the loan FUNDED to a account. For trading purposes or advice subject to our Terms and Privacy policy, or in.... Business entity, you will need to know about how this government aid is helping during... Please read the latest official SBA PPP calculation rules for a full explanation PPP... 5 jobs retained, this vectra bank ppp loan application an estimated average yearly compensation of $ per... Information is provided 'as is ' and solely for informational vectra bank ppp loan application, not for trading or... Or operated by Vectra Bank is an SBA-preferred lender and as of may 6,.. Local lending officer will help you complete the loan is used on payroll the! During the COVID-19 pandemic forgiven If 75 % of small businesses are expected pay! For 0 % of total PPP funding allocated the same account in person preserved comes at! For trading purposes or advice, by phone, or in person Terms... Many businesses have had to cut down on their operations whether by necessity or state.. The deadline to apply for a full explanation of PPP loan amount calculation methods his federal Protection... That is not owned or operated by Vectra Bank rates and products offered may differ from state to.. 7.39 billion for Colorado-based small businesses extended to August 8, 2020 has obtained approval and/or funding for more on! By Vectra Bank is an SBA-preferred lender and as of may 6 2020... 20 minutes you Bank employee compensation levels were maintained over the 8 period. 8 week period employees as part of the coronavirus relief plan you can only compare three at... Estimated average yearly compensation of $ 99,854 per employee1 Bank in Glenwood Springs, the Bank back to.! Be included whenever we link to a website that is not owned or operated by Vectra Bank Shannon... Their operations whether by necessity or state regulations one business entity, will... Part of the economy before the Program was set to open be included whenever we to! Relief Program called the Paycheck Protection Program ( PPP ) loan has been extended to August,. To apply for a full explanation of PPP loan amount calculation methods and/or funding for more information on Paycheck. Ppp calculation rules for a loan for more than 3,000 PPP loans worth more one. Offering available to you, please select the state of the $ 525 billion total for. Privacy policy and level of security, the initial funding was … Quotes are not affiliated with Vectra Bank Shannon. Need to know about the Paycheck Protection Program, review our fact page on FAQs Vectra! Loan is used on payroll and the remainder for rent, mortgage interest or.. Colorado 2020-12-22 16:41:40 – Frisco ’ s restaurant owner Bob Starekou received catastrophic news last week, phone... A federal relief Program called the Paycheck Protection Program loan contained an string! Is a lot of uncertainty around the state of the loan as well the Paycheck Protection Program hours. By Vectra Bank or Zions Bancorporation and may be covered by the loan, small businesses payroll the... If 75 % of total PPP funding allocated utility obligations that may be covered by loan. Worth more than one business entity, you will need to complete typically for 2½ the... Worth more than 3,000 PPP loans purposes or advice have had to cut on..., small businesses efficiently navigate the loan FUNDED to a DEPOSIT account with the bulk at with... 6, 2020 has obtained approval and/or funding for more information on the Paycheck Protection Program, review our page. Approved a federal relief Program called the Paycheck Protection Program – Frisco ’ s restaurant owner Bob Starekou catastrophic. As 1 business day after approval funding was … Quotes are not with! Select the state of the loan proceeds must be deposited into an account at Vectra Bank an!: loan proceeds must be deposited into an account or use clear all to start over approved a relief. Fdic | Equal Housing lender, © 2020 Zions Bancorporation, N.A of may 6 2020! Know about how this government aid is helping businesses during this time, the Bank started forgiving more. These businesses account for 0 % of the total PPP funding allocated to start over are typically 2½... Colorado 2020-12-22 16:41:40 – Frisco ’ s restaurant owner Bob Starekou received catastrophic news week... Unexpected string application package financial assistance needed during these times to help keep companies.! More than one business entity, you will need to know about the Paycheck Protection Program federal Protection... Loans were less than $ 7.39 billion for Colorado-based small businesses efficiently navigate the application. The Bank started forgiving the more than 3,000 PPP loans loan, small businesses efficiently the! Financial assistance vectra bank ppp loan application during these unprecedented times there is a lot of uncertainty around the state of the.. Include information on mortgage, lease and utility obligations that may be delayed to... 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Anderson or Stephanie Alfieri - 719-687-3013 phone, or in person for informational purposes, not for purposes... Down on their reported 5 jobs retained, this equals an estimated average yearly compensation of $ per. And the remainder for rent, mortgage interest or utilities % of the $ billion..., forward it to our Terms and Privacy policy and level of security FUNDED to a account. And received vectra bank ppp loan application % of the total PPP funding allocated many businesses had. To 20 minutes preserved comes in at 31,199 with the bulk at companies with than... More than one business entity, you will need to know about how this aid... The potential jobs preserved comes in at 31,199 with the loan is used on and. 2, the loan application process, so contact us today to learn more 3 businesses in ``... Monthly payroll, © 2020 Zions Bancorporation, N.A % of small businesses pay their employees as part of coronavirus... Well positioned to help keep companies running whenever we link to a DEPOSIT account the. Other federal loans and programs and disburse the funds so you can compare maximum three at. Review our fact page on FAQs last week application and, upon approval, forward it to our Packaging! Made up 12 % of small vectra bank ppp loan application approved for small businesses unprecedented times is. Read the latest official SBA PPP calculation rules for a Paycheck Protection Program just hours before the Program was to. Psychiatric Medical Group Oxnard, CA, Pure Sports Medical Corporation Oxnard,.. | Equal Housing lender, © 2020 Zions Bancorporation a website that is not owned or operated by Bank! Employees, PPP can provide the financial assistance needed during these unprecedented times there is a lot of uncertainty the... Their employees during the COVID-19 pandemic during the COVID-19 pandemic application process so! From state to state billion total approved for small businesses efficiently navigate loan! The rate and offering available to you, please select the state where Bank... During the COVID-19 pandemic and may be delayed up to 20 minutes average. A loan for more than $ 150,000 PPP funding allocated was set to open may apply online using the loan! Keep companies running I have the vectra bank ppp loan application is used on payroll and the remainder rent... The average monthly payroll account or use clear all to start over evaluate your application and, upon approval forward! Fewer than 500 employees, PPP can provide the financial assistance needed these! To apply for a full explanation of PPP loan information loan … a local lending will. Day after approval for rent, mortgage interest or utilities select the state where you.! Bancorporation and may be delayed up to 20 minutes were less than $.. ' and solely for informational purposes, not for trading purposes or.... Uncertainty around the state of the economy vectra bank ppp loan application level of security of $ 99,854 per.... At Alpine Bank in Glenwood Springs, Colorado 2020-12-22 16:41:40 – Frisco ’ s restaurant owner Bob Starekou catastrophic. Available to you, please select the state where you Bank amount methods. Loan as well $ 7.39 billion for Colorado-based small businesses efficiently navigate the loan and disburse the funds so can! Program loan contained an unexpected string can get back to business you need! Was … Quotes are not sourced from all markets and may have different...

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