Investar is committed to continuing to help small businesses navigate the COVID-19 loan relief options.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. On December 27, 2020, the President signed into law a bill that provides an additional $284B of funding for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) and extends the program through March 31, 2021. To apply online for a first or second draw PPP loan, click here or the button below. NOTE: the username and password is not your Investar online banking login info. If you are a returning PPP loan customer seeking a second draw, you can use the same info as you did previously.
What you need to know
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing loans toward job retention and certain other expenses.
Learn the latest by reviewing the U.S. Department of the Treasury website, click here.
How can I prepare?
For more information, please visit the Small Business Administration’s (SBA) website to familiarize yourself with the revised PPP loan details. You can also reach out to your local Investar banker to discuss the program further.
Since the launch of the program, the SBA and U.S. Treasury have made a number of updates to the PPP. We recommend that you continue to monitor their website for changes to the program which could impact your eligibility.
PPP Loan Forgiveness
SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.
Click here for guidance provided by the SBA to assist you with gathering your paperwork for the loan forgiveness process. They have three different form options so please review the instructions before choosing one.
For PPP loans $150,000 or less, please review the updated Form 3508 S (revised 1/19/2021) and click the button below to download the SBA PPP Loan Forgiveness application with instructions.