PPP Resources

Paycheck Protection Program (PPP) 

We will continue to communicate program updates through email and our new private Facebook group as we get additional information on the program from the SBA. Please contact us with any questions.

 

PPP1 Forgiveness

Loan forgiveness is still available! Heartland Bank thanks the small businesses that trusted us to help them secure funding via the U.S. Small Business Administration’s (SBA) Paycheck Protection Program.  We know some customers have met program requirements and are ready to begin the forgiveness phase and we have made an electronic process available to facilitate that action.  For others, as we monitor proposed legislation that could further streamline the process, it may make sense to wait to initiate the forgiveness phase.  Our priority is making sure you understand your options and that we are here to help you in any way we can. 

Click the orange Apply link below to begin your Forgiveness Application. Be sure to check out the Helpful Hints before you begin!

 

Apply for Forgiveness Today!

 

PPP First Draw Notes

  • SBA began accepting applications from Heartland Bank PPP Portal on Tuesday, January 19
  • Program Highlights and Eligibility:
    • New funding is available through March 31, 2021, or until new funds are exhausted
    • $10 million maximum loan amount
    • Less than 500 employees; some exceptions exist
  • Loan Features:
    • 1% APR
    • Up to 100% forgiveness
    • 5 year note with 10 month payment deferral
    • No fees
  • PPP Loan Funding must be deposited into a Heartland Bank depository account
  • Additional information can be found here 

 

Click here for Heartland Bank fact sheet on Eligibility, Required Documentation, and Loan Calculations 

Click here for FAQ’s

 

 

If you are a first time Heartland PPP borrower, you will select the following: “Not an existing customer? Click here to get started”

It is Heartland Bank’s goal to take care of our customers and support the communities we serve.  If you are not an existing client, we hope to serve you, but will be processing customer applications first.

 

PPP Second Draw Notes

  • SBA began accepting applications from Heartland Bank PPP Portal on Tuesday, January 19
  • Program Highlights and Eligibility:
    • New funding is available through March 31, 2021, or until new funds are exhausted
    • $2 million maximum loan amount
    • Certain industries, such as restaurant and hospitality businesses (registered with a NAICS code beginning with 72), may now quality for 3.5x their average monthly payroll for 2nd Draw PPP loans; all other industries remain at 2.5x monthly payroll
    • Less than 300 employees
    • Have used all of your original PPP loan funds on eligible expenses
    • Gross revenue reduction of 25% or more during any quarter of 2020 compared to the same quarter 2019, or annual comparison 2019 and 2020
  • Loan Features:
    • 1% annual percent rate
    • Up to 100% forgiveness
    • 5 year note with 10 month payment deferral
    • No fees
  • PPP Loan Funding must be deposited into a Heartland Bank depository account
  • Additional information can be found here

 

Click here for Heartland Bank fact sheet on Eligibility, Required Documentation, and Loan Calculations 

Click here for FAQ’s

 

 

If you are a first time Heartland PPP borrower, you will select the following: “Not an existing customer? Click here to get started”

It is Heartland Bank’s goal to take care of our customers and support the communities we serve.  If you are not an existing client, we hope to serve you, but will be processing customer applications first.