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Small Business Administration (SBA) Loans

Paycheck Protection Program (PPP) 

Timberline Bank, a Small Business Administration (SBA) preferred lender, is ready to process new borrowers and certain existing PPP borrows as funding becomes available. Timberline Business Bankers are here to assist our local businesses with the Paycheck Protection Program (PPP).

Evolving from the initial round of PPP loans in 2020, Timberline Bank partnered with a software agency to produce an efficient application and funding portal. Timberline Bank stands ready and focused on helping any & all local Small Businesses apply for the Payroll Protection Plan Loan to help during this time of uncertainty. Our focus has been and always will be on the Communities We Serve!

For more information, contact our Business Bankers.

 

The SBA has officially stated that it is no longer accepting new applications due to exhaustion of allocated funds. 

While new applications can not be submitted to the SBA, Timberline Bank will continue to accept new PPP requests and is closely monitoring guidance from the SBA should any additional funds be allocated. 

 

APPLY HERE

 


Frequently Asked Questions

  • You do not need to include your 1st round of Paycheck Protection Program (PPP) loan funds in your 2020 income when applying for your 2nd round PPP loan.
  • Loan amount to be calculated with 2.5x of average monthly payroll OR 3.5x if NAICS code begins with a 72.
  • Eligible businesses will have a maximum number of employees (including affiliates) of 300 (headcount and not FTEs).
  • For the 25% reduction calculation, you need to use a calendar quarter in 2019 and compare it to that same quarter in 2020.
  • For entities not in business in 2019 but in operation on February 15, 2020, gross receipts in the 2nd, 3rd, OR 4th quarter of 2020 need to be at least 25% lower than the first quarter of 2020 to qualify for the 25% reduction requirement.
  • You will need your 1st draw PPP loan amount and SBA loan number when applying for your 2nd draw PPP loan.
  • If you are a non-profit, the “owners” of the business are the directors and officers, and whoever can execute documents on behalf of the non-profit will need to show as a 20% owner.
  • A Timberline Bank bank account is not required to apply for a 2nd wave PPP loan, yet we are happy to assist with one.

     

 

 

 

Online Portal FAQs 

  • NAICS code for your business is required. You can find your NAICS code on your business tax returns, or you may use the lookup tool on https://www.census.gov/eos/www/naics/.

  • When you get to the “additional information page,” please note that it is a checkpoint for the entire application. If anything is missing, you will not be able to go past this final checkpoint. If you scroll to the top, any progress bar showing red will need to be complete before you can move onto the document section.

  • Ownership (minimum of 20%) must be disclosed. If you are a non-profit, the “owners” of the business are the directors and officers, and whoever can execute documents on behalf of the non-profit will need to show as a 20% owner.

  • Physical addresses (not P.O. Boxes) are required for business location and bank information.

  • The SBA loan number from your 1st draw PPP loan is required—not to be confused with the financial institution’s loan number. Contact the 1st draw PPP financial institution for the number if you cannot locate it in your records. If your 1st draw PPP loan was closed with Timberline Bank, we would look it up for you upon receipt of the application.

  • When you get to the “additional information page,” please note that it is a checkpoint for the entire application. If anything is missing, you will not be able to go past this final checkpoint. If you scroll to the top, any progress bar showing red will need to be complete before you can move onto the document section.

 

 

 

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Routing # (ABA): 102107063

SWIFT: TIMNUS55

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