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.

Investar's staff is working diligently to process applications to meet the SBA's deadlines. We are no longer accepting new applications at this time.

If you have already started your application and need to access into the PPP Loan Portal, please check your email for access info. If you need further assistance, please contact your local branch or banker.

About the SBA's PPP

Key points Include, but are not limited to:

  • PPP loans have an interest rate of 1%.
  • Loans issued prior to June 5, 2020 have a maturity of two (2) years. Loans issued after June 5 have a maturity of five (5) years.
  • Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower's loan forgiveness amount to the lender. If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (8 to 24 weeks).
  • No collateral or personal guarantees are required.
  • Neither the government nor lenders will charge small businesses any fees.

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.

SBA Form 3508 S

For your convenience, click on the buttons below to download the two SBA PPP Loan Forgiveness applications with instructions (revised 1/19/2021).

SBA Form 3508

Call 866.604.2006 to connect with your Banker.